261 MONMOUTH ST Independence OR 97351-2425

The subject portfolio consists of 5 properties on a single block in downtown Independence, Oregon. The properties consist of a recently renovated retail asset, which was re-purposed from the old town hall and fire station into a local brewery, as well as a partially occupied office building, a partially constructed office/multifamily property and two vacant homes. The homes were to be demolished and the lots were to be used as parking space for the mixed use building.

The properties are prominently situated in the center of Independence, in the heart of the Independence Vision 2040 initiative. This project will add momentum to the city’s continued success and vitalization.

Taken as a whole or as separate projects, each building has unique potential and many possibilities for growth. The former Independence City Hall at 240 Monmouth has been occupied by the local brewery, with significant tenant provided improvements and equipment, and has been open for business since Summer 2019.

The small office building including 258, 260 and 290 Monmouth is still partially occupied, and could easily become a strong cash-flowing asset. Across the street, 203 Monmouth is a substantial project which is well on its way to becoming a prominent mixed-use or multifamily hub located in the heart of the city. Included with 203, the homes on 261 and 275 Monmouth can be resold to the right buyer or redeveloped, yielding parking to the soon thriving area.

Investors are encouraged to submit offers before the deadline, as the seller may accept your offer and pull your preferred asset(s) from this marketing event with an executed PSA and a 10% deposit. Please ensure that you account for a 5% purchaser's premium in your asset pricing.

• Former Independence City Hall has been partly retrofitted to accommodate intended tenant Parallel 45 Brewing LLC
• Small commercial property down Monmouth Street from the new brewery is host to small commercial tenants and is partially leased
• Large, multi-story steel building has not been completed, but is intended to become a mixed use space of offices and apartments.
• Small, older SFRs adjacent to large steel structure were planned to be sold and moved, to make way for additional park space for the future development