Investment Highlights
10,000+- square feet that can easily be demised, plus a large basement
High ceilings, beautiful interior design features, multiple access points
Off-street parking lot with 22 stalls plus public parking lot one block away
Multiple use options: office, entertainment, restaurant, retail, service, and more
Fully refurbished?HVAC, roof, fixtures, and much more, in the early 2000's
Seller needs to lease back for a year or so; good for owner users and investors
Executive Summary
If you were to tour all of the downtowns across Central Oregon and then list the most impressive buildings by character, location, and present-day quality, 405 SW Sixth Street would easily make that list. Simply, this Main and Main property is iconic.In 1917, retail shop owners M.A. Lynch and J.R. Roberts built the northern half of this building to house their general merchandise business, which they had started in a smaller building down the street a few years earlier. In 1923, they doubled the building size by adding a matching space to the south. Today, the property helps showcase Redmond?s history while presenting multiple modern amenities. Consider: 10,000+- square feet that can easily be demised, plus a large basement Multiple use options: office, entertainment, restaurant, retail, service, and more Seller needs to leaseback for a year or so; good for owner users and investorsHigh ceilings, beautiful interior design features, multiple access points Centrally located in the heart of Redmond with easy access from all directionsFully refurbished?HVAC, roof, fixtures, and much more, in the early 2000'sWell-maintained, with primarily a single-use owner for the past 20+ years Off street parking lot with 22 stalls plus public parking lot one block away405 SW Sixth Street offers several unique benefits to an investor or user-buyer. This property has numerous features that make it a viable option for many potential uses: Parking: Unlike most downtown properties, this building has its own 22-stall parking lot immediately adjacent to the west, and a City-owned parking lot one block to the south. Corner Location Plus Alley Access: The intersection of Deschutes Avenue and Sixth Street is ground zero in downtown Redmond. The two block stretch from Deschutes to Forest Avenue are the most widely visited in Redmond for strolling to restaurants, retail shops, offices, and more. Downtown Renaissance: Redmond?s downtown has experienced an unparalleled revival over the past 10 years. With a movie theater, fully renovated boutique hotel, diverse new and long-term restaurants, plus two dozen new retail establishments, this area is booming. When you add to this the streetscape and building fa?ade makeovers that created a pedestrian friendly ambience, downtown Redmond is a great place to spend time.Multiple Redesign Options: The building presently has two access points on Sixth Street and two access points from the alley, non-weight bearing walls, centrally-located restrooms and kitchen areas, and gorgeous tall ceilings. When you add to this the finished basement for additional uses and ease of systems renovations, this building offers a buyer multiple use and/or demising opportunities.Sale Leaseback: The present owner is relocating to a new parcel just west of downtown. They are doing this in part in recognition of this building being much better suited for more traditional downtown uses. Since their new location is to be constructed, the seller is interested in a leaseback transaction, providing a buyer with an income stream during the transition from the existing use to future uses.
