Map of Property

Mixed-Use Gem

203 Monmouth St, Independence, OR 97351

  • For Sale $2,200,000
  • Property Type Multi-Family
  • Property Size 56,735 SF
  • Units 0
  • Lot Size 0.68 Acre
  • Year Built 2004
  • Date Updated Apr 2, 2024
Corner lot on Monmouth Street and S 2nd Street.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.

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Attachments

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

Contacts

broker

AJ Nash | Principal Broker

Tradition Real Estate Partners

(503) 559-9279

Location

Getting Around

  • Walk Score ®

    74/100 Very Walkable

  • Bike Score ®

    61/100 Bikeable
Powered by Walk Score ®
  • City Independence, OR
  • Neighborhood Independence
  • Zip Code 97351
  • Market Eugene

Points of Interest

  • Salem Amtrak Station

    9.58 miles

  • Astro

    0.67 miles

  • Chevron

    0.98 miles

  • Shell

    2.12 miles

  • Blink

    5.62 miles

  • Chevron

    6.10 miles

  • AG West Supply Gas Station

    6.20 miles

  • Shell

    7.91 miles

  • 76

    7.93 miles

  • Chevron

    8.03 miles

  • Safeway Fuel Station

    8.11 miles

  • Rickreall Park & Ride

    5.51 miles

  • Sidney Road North Parking

    5.76 miles

  • Sidney Road South Parking

    6.04 miles

  • Mohoff Parking

    6.18 miles

  • Eagle Marsh Parking

    6.35 miles

  • Buena Vista Road South Parking

    6.36 miles

  • Buena Vista Road Middle Parking

    6.48 miles

  • Buena Vista Road North Parking

    6.56 miles

  • Restroom Parking

    6.92 miles

  • Wintel Road West Parking

    7.01 miles

  • Courtesy Inn

    2.12 miles

  • Phoenix Inn Suites - Salem

    7.96 miles

  • Riverside Inn

    8.18 miles

  • Grand Hotel

    9.40 miles

  • Howard Johnson by Wyndham Salem

    9.78 miles

  • McDonald's

    0.94 miles

  • Burgerville

    2.09 miles

  • Dairy Queen

    2.14 miles

  • Yang's Teriyaki

    2.51 miles

  • Wolf Grill

    2.55 miles

  • Cafe 22 West

    6.14 miles

  • Eola Inn

    6.64 miles

  • Gold Dragon

    7.85 miles

  • Tacos Del Sur

    7.88 miles

  • Sushi Kyo

    7.90 miles

  • Independence Elementary School

    0.22 miles

  • Henry Hill Elementary School

    0.40 miles

  • Central High School

    1.14 miles

  • Talmadge Middle School

    1.24 miles

  • Mid Valley Christian Academy

    1.45 miles

  • Ash Creek Elementary School

    1.46 miles

  • Monmouth Elementary School

    1.83 miles

  • The Mods

    2.41 miles

  • Western Oregon University

    2.61 miles

  • Sprague High School

    5.87 miles

  • Wallace Learning Center

    9.50 miles

  • Little Friends Montessori School

    9.75 miles

Frequently Asked Questions

What is the lease rate for Mixed-Use Gem?

Rental asking rate at Mixed-Use Gem is $1,100,000.00/YR.

What is the total square footage of Mixed-Use Gem?

Mixed-Use Gem totals 56,735 square feet.

When was this property built?

Mixed-Use Gem was built in 2004.

Looking for more in-depth information on this property?

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Contact Listing Broker

broker

AJ Nash | Principal Broker

Tradition Real Estate Partners

(503) 559-9279