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31830627
31830628

1750 SW 3rd St, Corvallis, OR 97333

EG
OR 201235586
Marcus & Millichap - Portland
Listed by Marcus & Millichap - Portland
$5,200,000
59 days on market
Updated 10 days ago

Corvallis Millrace Center

Details
APN 12511BB00200
Property Type Industrial, Office
Sub Type Flex, Warehouse
Square Footage 41,478
Net Rentable (SqFt) 41,478
Units 11
Cap Rate 7.51%
NOI $390,304
Occupancy 100%
Tenancy Multi
Lease Type NN+
Rent Bumps Yes
Price per SqFt $125
Broker Co-Op Yes
Class C
Year Built 1973
Year Renovated 2026
Buildings 3
Acreage 2.950
Investment Type Stabilized
Ground Lease No
Loading Docks 4
Ownership Fee Simple

Below Market Rents | New Roof | Supply Constrained Market

Marketing description

MARCUS & MILLICHAP HAS BEEN EXCLUSIVELY CHOSEN TO MARKET CORVALLIS MILLRACE, a versatile mixed-use property located in Corvallis, OR. This dynamic complex offers a blend of retail, office, and industrial spaces, built in 1973 and renovated in 1997. Spanning 41,478 square feet on a generous 2.95-acre lot, it provides ample room for diverse business operations. Recent improvements include a brand new roof installed on building 1750 in 2024, a three-year-old warrantied roof on building 1760, and a roof just under five years old on building 1780. Additionally, the parking lot has been recently redone, new gas packs have been installed on the roof of building 1750, and a wireless fire suppression system is being implemented to eliminate monthly phone line charges. A flood designation removal is also in progress, and a 10-year transferable warranty is available. Corvallis Millrace Center boasts an impressive roster of tenants, including prestigious institutions like Oregon State University, as well as established companies such as Acute Engineering and Kohler Design Corporation. Its strategic location near Oregon State University’s campus, home to over 37,000 students and 9,000 faculty and staff, ensures a steady flow of potential customers and employees. With 78 on-site parking spaces, multiple points of ingress and egress, and prominent signage, the center offers excellent visibility and accessibility for tenants and visitors alike. Building 1780 is further enhanced with a 3-phase 480 amp power supply. This prime positioning, combined with its flexible spaces and diverse tenant mix, makes Corvallis Millrace Center an attractive option for businesses looking to establish or expand their presence in the thriving Corvallis market.

Investment highlights

High Traffic Industrial Corridor

Below Replacement Cost

Supply Constrained Submarket

Listing Contacts

EG
OR 201235586
Marcus & Millichap - Portland
Listed by Marcus & Millichap - Portland

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$390,304.00
$32,525.33/mo

Valuation Metrics

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DSCR
7.51%
Cap Rate
7.51%
ROI

Map

Zoning

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MUE MixedMixed UseMixed Use Employment Zone
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View all 57 uses
View all 57 uses
Last updated May 25, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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