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Listed by Land Leader
$ 1,765,000
Est. payment | /mo
7,500 SqFt
$ 1,765,000
Est. payment | /mo
7,500 SqFt
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 7,500 sqft
Price per Sqft $235
MLS Listing ID 24654846
Year Built 1919
Annual Tax Amount $8,764
Tax Year 2023
Lot Size 2,613 Sqft
Property Description
The Landaker Building - historic icon in the heart of Downtown Redmond, Oregon. Built in 1919, this approximately 7,500-square-foot, three-story mixed-use investment building is located at the prominent intersection of Evergreen Avenue and Sixth Street. The building's historical significance and strategic location in Redmond's Central Business District (CBD) make it a standout investment opportunity for those seeking both a prime location and stable income.Originally constructed as a one-story pool hall, the Landaker Building underwent significant renovations in 1932, adding two additional floors for office and apartment space. Over the years, the iconic building has housed notable businesses, including the Pastime Tavern, and played a vital role in Redmond's community life. The building remains a structure of historical significance, capturing the charm and heritage of Redmond's early 20th-century architecture. The Landaker Building is fully leased, comprising two retail units on the ground floor, two commercial units on the third floor, and 10 apartment units on the second and third floors, all serviced by an elevator. The retail tenants, including Morning Story and Salon Bliss, benefit from the high foot traffic in this bustling downtown area. The apartment units, primarily studios, ensure flexibility for future rent increases or conversion opportunities.Currently, The Landaker Building is designated as of "historical interest." These properties are not required to comply with the requirements of the Preservation of Historic Resources section of the Redmond Development Code except in the event of demolition or of a major alteration. Short Term Rentals (STRs) are permitted on C2 zoned properties, including within the Downtown Overlay District (DOD), granted applicable standards and requirements are complied with.
Location
State OR
County Deschutes
Area _320
Zoning C-2
Interior
Heating Forced Air, Wall Heater
Exterior
View City
Garage No
Building
Sewer Public Sewer
Water Public Water
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
