405 SW 6th St - Restaurant FOR SALE


Redmond, OR 97756
$2,750,000 USD
541-325-2027
405 SW 6th St, Redmond, OR for Sale
$2,750,000 USD
Restaurant - FOR SALE
1/17
null | Request Cap Rate

NEW


405 SW 6th St
Redmond, OR 97756


HIGHLIGHTS

  • 10,000+- square feet that can easily be demised, plus a large basement
  • Multiple use options: office, entertainment, restaurant, retail, service, and more
  • High ceilings, beautiful interior design features, multiple access points
  • Fully refurbished HVAC, roof, fixtures, and much more, in the early 2000's
  • Off-street parking lot with 22 stalls plus public parking lot one block away
  • Seller needs to lease back for a year or so; good for owner users and investors

OVERVIEW

If you were to tour all of the downtowns across Central Oregon and then list the most impressive buildings by character, location, and present-day quality, 405 SW Sixth Street would easily make that list. Simply, this Main and Main property is iconic. In 1917, retail shop owners M.A. Lynch and J.R. Roberts built the northern half of this building to house their general merchandise business, which they had started in a smaller building down the street a few years earlier. In 1923, they doubled the building size by adding a matching space to the south. Today, the property helps showcase Redmond’s history while presenting multiple modern amenities. Consider: 10,000+- square feet that can easily be demised, plus a large basement Multiple use options: office, entertainment, restaurant, retail, service, and more Seller needs to leaseback for a year or so; good for owner users and investors High ceilings, beautiful interior design features, multiple access points Centrally located in the heart of Redmond with easy access from all directions Fully refurbished HVAC, roof, fixtures, and much more, in the early 2000's Well-maintained, with primarily a single-use owner for the past 20+ years Off street parking lot with 22 stalls plus public parking lot one block away 405 SW Sixth Street offers several unique benefits to an investor or user-buyer. This property has numerous features that make it a viable option for many potential uses: Parking: Unlike most downtown properties, this building has its own 22-stall parking lot immediately adjacent to the west, and a City-owned parking lot one block to the south. Corner Location Plus Alley Access: The intersection of Deschutes Avenue and Sixth Street is ground zero in downtown Redmond. The two block stretch from Deschutes to Forest Avenue are the most widely visited in Redmond for strolling to restaurants, retail shops, offices, and more. Downtown Renaissance: Redmond’s downtown has experienced an unparalleled revival over the past 10 years. With a movie theater, fully renovated boutique hotel, diverse new and long-term restaurants, plus two dozen new retail establishments, this area is booming. When you add to this the streetscape and building façade makeovers that created a pedestrian friendly ambience, downtown Redmond is a great place to spend time. Multiple Redesign Options: The building presently has two access points on Sixth Street and two access points from the alley, non-weight bearing walls, centrally-located restrooms and kitchen areas, and gorgeous tall ceilings. When you add to this the finished basement for additional uses and ease of systems renovations, this building offers a buyer multiple use and/or demising opportunities. Sale Leaseback: The present owner is relocating to a new parcel just west of downtown. They are doing this in part in recognition of this building being much better suited for more traditional downtown uses. Since their new location is to be constructed, the seller is interested in a leaseback transaction, providing a buyer with an income stream during the transition from the existing use to future uses.

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$275 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Iconic Downtown Redmond Oregon Building

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Convenience Store, Loft/Creative Space, Health Club

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1917

SPRINKLERS

-

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,001 SF

ZONING

C2

APN/PARCEL ID

123415

ASK ABOUT THIS PROPERTY

Ken StreaterAligned Commercial Real EstateMore Info
541-325-2027

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Ken StreaterAligned Commercial Real EstateMore Info
541-325-2027

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