1750-1760 3rd St SW - Office FOR SALE


Corvallis, OR 97333
$5,200,000 USD
503-200-2031
1750-1760 3rd St SW, Corvallis, OR for Sale
$5,200,000 USD
Office - FOR SALE
1/6
null | 7.51% Cap Rate

1750-1760 3rd St SW
Corvallis, OR 97333


HIGHLIGHTS

  • Low Vacancy Market
  • Brand New Roofs on Two Buildings
  • NNN Lease Structure

OVERVIEW

MARCUS & MILLICHAP HAS BEEN EXCLUSIVELY CHOSEN TO MARKET CORVALLIS MILLRACE, a versatile mixed-use property located in Corvallis, OR. This dynamic complex offers a blend of retail, office, and industrial spaces, built in 1973 and renovated in 1997. Spanning 41,478 square feet on a generous 2.95-acre lot, it provides ample room for diverse business operations. Recent improvements include a brand new roof installed on building 1750 in 2024, a three-year-old warrantied roof on building 1760, and a brand new roof installed on building 1780 in 2026. Additionally, the parking lot has been recently redone, new gas packs have been installed on the roof of building 1750, and a wireless fire suppression system is being implemented to eliminate monthly phone line charges. A flood designation removal is also in progress, and a 10-year transferable warranty is available. Corvallis Millrace Center boasts an impressive roster of tenants, including prestigious institutions like Oregon State University, as well as established companies such as Acute Engineering and Kohler Design Corporation. Its strategic location near Oregon State University’s campus, home to over 37,000 students and 9,000 faculty and staff, ensures a steady flow of potential customers and employees. With 78 on-site parking spaces, multiple points of ingress and egress, and prominent signage, the center offers excellent visibility and accessibility for tenants and visitors alike. Building 1780 is further enhanced with a 3-phase 480 amp power supply. This prime positioning, combined with its flexible spaces and diverse tenant mix, makes Corvallis Millrace Center an attractive option for businesses looking to establish or expand their presence in the thriving Corvallis market.

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$1,677 USD /SF

CAP RATE

7.51%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

undefined, Service, Light Distribution

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.95 AC

LAND SF

128,502 SF

ZONING

MUE

APN/PARCEL ID

158752

ASK ABOUT THIS PROPERTY

Eric GarskeMarcus & MillichapMore Info
503-200-2031

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Eric GarskeMarcus & MillichapMore Info
503-200-2031

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.