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)
Lot & Building Features
ConstructionMetal Frame, Metal Siding
HeatingOther
Parking DescriptionOn Site, Paved
SewerPublic Sewer
WaterPublic Water
Price History of 2859 AVALON ST, Klamath Falls, OR
Date
Name
Price
Difference
07/25/2024
Listing Price
$1,195,000
N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.
2859 AVALON ST (MLS #24552204) is a commercial listing located in Klamath Falls, OR.
This commercial listing is 18,679 sqft and on a lot of 75,794 sqft (or 1.74 acres) and is 59 years old. This property was listed on 07/25/2024 and has been priced for sale at $1,195,000.
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Listing information courtesy of: Realty Marketing / Northwest