Stabilized Office/Medical Building in downtown Ontario, OR
$1,140,000
88 SW 3rd ave., Ontario, OR 97914
6.48
Cap Rate
73,910
NOI
Details:
Highlights:
- - 17,240 SF property (7092 Office, 5000 basement, 5148 interior parking)
- - Prime Ontario location
- - 100% occupancy with a stable tenant
- - Well-maintained and well kept exterior/interior
- - Ample on-site parking for tenants and visitors
- - Strong rental history and income potential
- - Proximity to major transportation routes
- - Close to amenities and services
- - Potential for future expansion or reconfiguration
- - Professional property management in place
- - Excellent investment opportunity with steady appreciation
Description:
The Caldwell Building is a historic building located in downtown Ontario. This ex-auto showroom has been converted to a 3 story medical building, and is a testament to enduring quality and structural resilience.
NOI-$74k
Cap 6.5%
Upside on an additional 25% to market rent at renewal + basement rental.
Tenant pays for $4000 property tax.
Built in 1930, The 7092 sq ft two level office space (leased); in addition there is an extensive 5000 sq ft basement (leasable), and 27 interior/5 surface parking spaces.
This property has its own built-in Sally Port for security. Major update of roof, HVAC, electrical, plumbing etc performed in 2019, cost $450k.
It is professionally managed with low operating expense.
This timeless concrete structure is occupied by long term accredited tenants, at 59% (leasable % occupied space). 41% additional leasable potential with 5000 sq ft. basement.
This is an incredible investment opportunity for stable cash flow, with upside for additional 40% rental income of basement.
With its robust construction, additional leasable space, and an accredited tenant with long term lease (two 5 year renewal options), this property presents a compelling proposition for those looking to diversify their portfolio into a safe and steady investment.
NDA needed before further disclosure.
Located in beautiful Ontario, OR, the property offers a prime investment opportunity in a vibrant and growing area. With a thriving downtown district and convenient access to transportation corridors, this location presents an appealing prospect for an Office / Office Building investor seeking to become a part of Ontario's dynamic landscape.
Electrical, water
Documents:
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Sale Flyer | ||
Offering_Memorandum.pdf |
Location

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