request_info_guest true

Stabilized Office/Medical Building in downtown Ontario, OR

$1,140,000

88 SW 3rd ave., Ontario, OR 97914

Active
Last Updated: 05/04/2025

6.48

Cap Rate

73,910

NOI

Details:
Cap Rate:    6.48%
NOI:    $73,910
Building Size:    17,420 sqft
Occupancy:    59%
Class:    B
Units:    2
Year Built:    1935
Floors:    3
Parking Spots:    25
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

Map:
Documents:
Title
Sale Flyer
View
Offering_Memorandum.pdf
View
* Documents permissions are set by the listing owner, request information to access locked documents.
Location
Gallery