Klamath Falls, OR 97603,2859 AVALON ST
Klamath Falls, OR 97603,2859 AVALON ST
Klamath Falls, OR 97603,2859 AVALON ST
4
Listed by Realty Marketing / Northwest
Bought with Fathom Realty Oregon, LLC
$1,195,000
$1,195,000
Est.Price: ?

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18,679 SqFt

2859 AVALON ST Klamath Falls, OR 97603

Est. payment /mo
SOLD DATE : 10/15/2024

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Key Details

Sold Price $1,195,000

Property Type Commercial

Sub Type Industrial

Listing Status Sold

Purchase Type For Sale

Square Footage 18,679 sqft

Price per Sqft $63

MLS Listing ID 24552204

Sold Date 10/15/24

Year Built 1965

Annual Tax Amount $8,862

Tax Year 2023

Lot Size 1.740 Acres

Property Sub-Type Industrial

Property Description

Triple net leased 18,679 square foot building on 1.73 ac site is located at 2859 Avalon Street in the southeast section of Klamath Falls, two blocks east of Washburn Way. It is leased by Desert Lake Technologies for research and quality control operations, and for storage of blue-green algae products. NOI is $114,000 with 3% increase due in November 2024 per terms of the NNN lease. The building is steel frame construction on a concrete slab. The layout includes office, R&D lab, several storage areas with roll up doors, small refrigerated area, and mezzanine with additional offices. There is a paved parking area on the northside of the building. The 1.73 acre lot has 200 feet of Avalon Street frontage and 314 feet of depth. The triple net lease includes the building and parking. It is estimated that the 20,000 square feet of excess land at the eastern end of the property is suitable for development, and could accommodate 7,000 to 8,000 square feet of industrial building, with 1,000 to 1,500 square feet for work/storage small spaces, similar to Southtowne Business Center, in Klamath Falls.Access would be from Avalon Street. Secondary access is from Maryland Avenue. All utilizes serve the site. Seller has recently reduced price to $1,195,000 (9.5% Cap Rate)

Location

State OR

County Klamath

Area _300

Zoning LI

Interior

Heating Other

Exterior

View Territorial

Garage No

Building

Story 1

Sewer Public Sewer

Water Public Water

Level or Stories 1

Others

Acceptable Financing Cash

Listing Terms Cash

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Regional Multiple Listing Service (RMLS)

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agent

Randy Byrd

Broker | License ID: 201235026

+1(541) 570-5777

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