Corvallis Millrace Center — Sale in Corvallis, OR

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Corvallis, OR 97333
  • Year built: 1973

Photos

Corvallis Millrace Center — Sale in Corvallis, OR, photo 1 of 2
Corvallis Millrace Center — Sale in Corvallis, OR, photo 2 of 2

Investment Figures

Cap rate
6.92%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

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 Ferrellgas 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: • Strategically near Oregon State University, home to 37,000+ students and 9,000 staff, the property attracts steady customers and employees, ensuring strong demand for retail, office, and industrial. • With tenants like Oregon S

Market Context

This mixed use in Corvallis, OR is listed for sale. It is offered at an approximate 6.9% capitalization rate, a key benchmark for income-producing mixed use assets. The building dates to 1973. Compare it against other mixed use listings for sale in Corvallis, OR — view the full market.

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