Partially Completed Mixed Use Project

203 Monmouth St, Independence, OR

$2,200,000

Price

56,735 sqft

Building Size

0.675 acres

Lot Area

Overview
Building Size
56,735 sqft
Lot Area
0.675 acres
Year Built
2004
Description

Situated in Independence, Oregon's Downtown Historic district, this partially-completed mixed-use project is a stone's throw from Riverview Park, known for its amphitheater, playground, and the scenic Willamette River attractions. The development is primed to house 35 residential units, retail spaces on the ground floor and basement, and storage amenities. Spanning a net rentable area of 56,735 RSF and appraised at $9,640,000 in September 2022, the property also boasts $620,036 in paid SDC credits. With the added benefit of a 20% property tax credit per residential floor for ten years, it represents a prime investment opportunity in a bustling locale.

Corner lot on Monmouth Street and S 2nd Street.

Highlights
  • $9,640,000 As-Is Appraised Value (10/17/22)
  • 56,735 RSF of Existing Improvements
  • $620,036.00 of Paid SDC Credits in Place
  • Traffic Impact Analysis Completed July 2021
  • 20% Property Tax Credit per floor of Residential (10-year credit)
  • MUPC Zoned Property
Documents
Location