New Dream Family Center 1244 W 17th Ave 12,769 SF Retail Building Eugene, OR 97402 $2,837,000 ($222.18/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Stable Tenant – Operating since 2009, New Dream Family Center provides essential childcare services to the community and is a non-profit organization
- Strategic Location – Situated in a high-demand area with 8,355 children under five years old within a 5-mile radius, with limited competition.
- Value-Add Potential – Below-market lease with no renewal options, giving new ownership significant upside at lease re-negotiation.
EXECUTIVE SUMMARY
NEW DREAM FAMILY CENTER in Eugene, OR presents an exceptional investment opportunity with significant upside potential. The 12,769 SF property, featuring three buildings on a 24,523 SF site, is leased to the well-established 501(c)(3) nonprofit New Dream Family Center until 2028. The current lease, priced below market rent, offers a valuable value-add opportunity for new ownership. With no renewal options in place, new owners can optimize rental rates, tenant expenses, and implement standard escalations or explore new leasing opportunities. Recent capital improvements include a solar panel installation, upgraded roofing, and energy-efficient systems, ensuring operational efficiency and cost savings. The property's campus-like setting, extensive playgrounds, and multiple classrooms create a welcoming environment for the licensed capacity of 133 children. This is an excellent campus-like facility ready for an investor today or an owner-user seeking a facility that will be ready for them in a few years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
12,769 SF
Year Built/Renovated
1990/2023
Price
$2,837,000
Price Per SF
$222.18
Cap Rate
6%
NOI
$170,230
Tenancy
Single
Building Height
1 Story
Building FAR
0.52
Lot Size
0.56 AC
Zoning
R-1 - Single-Family Residential w/Conditional Use Permit
Walk Score®
Very Walkable (71)
Bike Score®
Biker's Paradise (95)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0488955 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $588,524 |
