INVESTMENT REAL ESTATE SERVICES MATT LYMAN Senior Broker, Office & Industrial Properties 503.225.8454 (O) | 503.507.4880 (C) [email protected]JACK SCHAUB Broker, Office & Industrial Properties 503.225.8481 (O) | 607.592.1356 (C) [email protected]Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction. MULTNOMAH LODGE NO. 1 707 - 709 MAIN STREET | OREGON CITY, OR 97045 SEPT 2021 OFFERING MEMORANDUM CONFIDENTIAL
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Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.
MULTNOMAH LODGE NO. 1707 - 709 MAIN STREET | OREGON CITY, OR 97045
SEPT 2021
OFFERING MEMOR ANDUM
CONFIDENTIAL
INVESTMENT REAL ESTATE SERVICES Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.INVESTMENT REAL ESTATE SERVICES
503.223.3171 • NORRIS-STEVENS.COM
HISTORIC NO 1 MASON LODGE707 - 709 MAIN STREETOREGON CITY, OR 97045
JACK SCHAUBBroker, Office & Industrial Properties503.225.8481 (O)607.592.1356 (C)[email protected]
INVESTMENT REAL ESTATE SERVICES Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.
OFFERING MEMORANDUM
INVESTMENT REAL ESTATE SERVICES
503.223.3171 • NORRIS-STEVENS.COM
MULTNOMAH LODGE NO. 1 | OREGON CITY, OR 97045
EXECUTIVE SUMMARY
Address: 707 - 709 Main Street
City/State: Oregon City, OR
Property Size: ± 29,700 SF
Year Built: 1907
Zoning: MUD
Site Size: ± 0.16 Acres (6,970 SF)
Property Taxes: $8,019
Stories: 5
Construction: Reinforced Concrete
Vacancy: 0%
Asking Price: Unpriced
HISTORYMultnomah Lodge No. 1 Ancient Free and Accepted Masons is the first Masonic Lodge constructed west of the Rocky Mountains. It was originally chartered by the Grand Lodge of Missouri in 1846 to be called Multnomah Lodge No. 84. When the Grand Lodge of Missouri failed to organize it as one of the Grand Lodges of Oregon in 1851, it became known as Multnomah Lodge Number 1.
PROPERTY SUMMARY
INVESTMENT REAL ESTATE SERVICES Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.
OFFERING MEMORANDUM
INVESTMENT REAL ESTATE SERVICES
503.223.3171 • NORRIS-STEVENS.COM
MULTNOMAH LODGE NO. 1 | OREGON CITY, OR 97045
HISTORICAL FLOOR PLANS
INVESTMENT REAL ESTATE SERVICES Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.
OFFERING MEMORANDUM
INVESTMENT REAL ESTATE SERVICES
503.223.3171 • NORRIS-STEVENS.COM
MULTNOMAH LODGE NO. 1 | OREGON CITY, OR 97045
PROPERTY PHOTOS
INVESTMENT REAL ESTATE SERVICES Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.INVESTMENT REAL ESTATE SERVICES
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LOCATION
N
MULTNOMAH LODGE NO. 1
OREGON CITYOREGON CITY
WEST LINNWEST LINN
MCLOUGHLIN BLVD
MCLOUGHLIN BLVD
MAIN ST
MAIN ST
OREGON CITY ARCH BRIDGE
OREGON CITY MUNICIPAL ELEVATOR
MI FAMIGLIA WOOD OVEN PIZZARIA
BLACK INK COFFEE
OREGON CITY GRILL
THE VERDICT BAR & GRILL
FOOD MART
MESA FRESCA NEBBIOLO RESTAURANT & WINE BAR
WEINHARD GRILL
SCHMIZZA PUBLIC HOUSE
COIN CORNER HOBBIES
OFFERING MEMORANDUMMULTNOMAH LODGE NO. 1 | OREGON CITY, OR 97045
INVESTMENT REAL ESTATE SERVICES Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.
OFFERING MEMORANDUM
INVESTMENT REAL ESTATE SERVICES
503.223.3171 • NORRIS-STEVENS.COM
MULTNOMAH LODGE NO. 1 | OREGON CITY, OR 97045
FLOOR TENANT RATE (MONTHLY) SIZE
4th Confidential $5,600 NNN ± 4,500 SF
2nd & 3rd Clackamas County $13,120 NNN ± 11,500 SF
Main Confidential $945 NNN ± 700 SF
Main Confidential $2,450 NNN ± 2,000 SF
Main Confidential $4,221 NNN ± 2,500 SF
Basement Confidential $2,400 NN —
Basement Confidential $75 NN —
Basement Confidential $125 NN —
Monthly Gross Income $28,936
Annual Gross Income $347,232
OPERATING EXPENSES
Management $13,889
Janitorial $3,000
Annual Gross Expenses $16,889
NET OPERATING INCOME $330,343
RENTAL INCOME
FINANCIAL INFORMATION
INVESTMENT REAL ESTATE SERVICES Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.
OFFERING MEMORANDUM
INVESTMENT REAL ESTATE SERVICES
503.223.3171 • NORRIS-STEVENS.COM
MULTNOMAH LODGE NO. 1 | OREGON CITY, OR 97045
LEASE COMPARABLES
507-511 MAIN STREETOregon City, OR
Tenant Mary Rose NW Boutique
Type Retail Starting Rent $36.60
Square Feet 1,800 Rent Bump % 2.0%/1 Yr
Lease Terms 3 Years Free Rent —
616 MAIN STREETOregon City, OR
Tenant Really Pr3tty Things
Type Retail Starting Rent $20.00
Square Feet 1,540 Rent Bump % 3.0%/1 Yr
Lease Terms 3 Years Free Rent —
MAIN STREETOregon City, OR
Tenant Clackamas District Attorney
Type Office Starting Rent $12.00
Square Feet 10,000 Rent Bump % 3.0%/1 Yr
Lease Terms 11 Years Free Rent —
719-721 MAIN STREETOregon City, OR
Tenant Good-2-Go
Type Office Starting Rent $17.14
Square Feet 1,400 Rent Bump % —
Lease Terms 3 Years Free Rent —
415 CENTER STREETOregon City, OR
Tenant Illume Property Management
Type Retail Starting Rent $24.96
Square Feet 1,249 Rent Bump % 3.0%/1 Yr
Lease Terms 3 Years Free Rent 1 Month
1128 MAIN STREETOregon City, OR
Tenant OC Taco
Type Retail Starting Rent $22.00
Square Feet 2,155 Rent Bump % 3.0%/1 Yr
Lease Terms 10 Years Free Rent 3 Months
712 MAIN STREETOregon City, OR
Tenant Private Investigations Office
Type Office Starting Rent $18.00
Square Feet 2,050 Rent Bump % —
Lease Terms 5 Years Free Rent —
415 CENTER STREETOregon City, OR
Tenant Capital Design
Type Office Starting Rent $20.13
Square Feet 626 Rent Bump % —
Lease Terms 2 Years Free Rent —
OFFICE
RETAIL
BUYER UPSIDE WITH BELOW MARKET RENTS
AVERAGE SF: 3,519 • AVERAGE STARTING RENT: $16.82
AVERAGE SF: 2,007 • AVERAGE STARTING RENT: $23.41
In addition to its location, history, and market position, Multnomah Lodge offers a buyer upside with below market rents.
INVESTMENT REAL ESTATE SERVICES Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.
OFFERING MEMORANDUM
INVESTMENT REAL ESTATE SERVICES
503.223.3171 • NORRIS-STEVENS.COM
MULTNOMAH LODGE NO. 1 | OREGON CITY, OR 97045
LOCATION OVERVIEW
2 MILES 5 MILES 10 MILES
2021 Population: 39,736 146,217 598,302
2026 Population Projection: 41,342 152,077 618,264
2021 Households: 15,460 56,885 236,772
2026 Households Projection: 16,088 59,136 244,369
Median HH Income: $74,004 $80,515 $82,135
DEMOGRAPHICS
AREA OVERVIEWOregon City is located 13 miles South of Portland at the confluence of the Willamette and Clackamas Rivers. Oregon City is home to many local eateries and shops, recreational opportunities, a wide variety of historical and cultural attractions, and several interpretive centers and museums dedicated to celebrating the pioneer spirit. Oregon City was the first state capital and is the county seat of Clackamas County.
Source: orcity.org
INVESTMENT REAL ESTATE SERVICES Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.
On August 15, 2019, the Confederated Tribes of Grand Ronde purchased a 23-acre property at Willamette Falls that was formerly home to a Blue Heron Paper Company mill. The property, which sits on the east bank of the Willamette River in Oregon City, is located within the Tribe’s ancestral homelands land and holds significant historical and cultural importance for the Tribe.
The lands were once home to the Charcowah village of the Clowewalla (Willamette band of Tumwaters) and the Kosh-huk-shix Village of Clackamas people. They were ceded to the United States government under the Willamette Valley Treaty of 1855. Following the Willamette Valley Treaty, tribal members were forcibly removed from Willamette Falls and relocated to Grand Ronde.
THE VISION
Since acquiring the property in 2019, the Tribe has been working with a design team from GBD Architects and Walker | Macy to create a vision for the site. Focused on the central idea of healing, the vision will also be guided by the values of spirit, place, people and prosperity.
At the site itself, that vision will come to life through:
• Environmental restoration that will restore long-lost natural basalt landscape and water channels.
• Native plantings and restored riparian habitat to benefit native fish, birds and other wildlife.
• Thoughtful mixed-use development at the north end of the site that would visually and physically connect to the restored landscape.
• Opportunities include office, hospitality, institutional or educational spaces, tribal areas, public gathering spots and a long-planned riverwalk.
• Opportunities to share the story of the Tribe and its historical and cultural connection to Willamette Falls.
• Access to the falls for members of the Tribe and the general public.Content courtesy of Confederate Tribes of Grand Ronde