300 Ellsworth St. SW, Albany, OR 97321 For Sale

Introducing 300 Ellsworth Street SW which presents a compelling redevelopment opportunity in the core of downtown Albany. The property consists of a three-story building on a 0.32 acre parcel, offering scale, visibility, and flexibility for end users or tenant mixes.

Approximately 4,500sqft of the ground floor is occupied by WaFd Bank, who will execute a leaseback for their space at closing, providing immediate, stabilized income and enhancing the investment profile. This built-in tenancy allows an investor, developer or owner-user to execute a repositioning strategy while maintaining stabilized cash flow from day one.

The remaining vacant space in the building presents a fantastic development opportunity. Exposed brick encourages options for both executive office or more creative use ideas allowed within the HD zoning. Approximately 1,928sqft. of ground floor space and the entire second floor are currently in shell condition, creating the ability to design and deliver space tailored to market demand. Many potential uses include but are not limited to professional office, boutique retail, service-oriented businesses, or a hybrid owner-user configuration. The building's layout and downtown location support a variety of leasing strategies.

With stable tenancy anchoring the property and significant upside through lease-up and development of the vacant spaces, 300 Ellsworth Street SW is ideally suited for a developer, investor, or owner-user seeking to capitalize on both income stability and long-term value creation. The combination of an established financial institution tenancy and quality of the building positions this asset as the premier development opportunity within the Albany Oregon market.