Fantastic value-add opportunity on the north end of downtown Bend, Oregon with gorgeous views of the Cascade Mountains and the Deschutes River. Potential and prime for downtown "Re-Development" that could include a Mixed-Use type development utilizing Retail/Office and Residential condo within the City zoning code height restriction. Property is situated where The Deschutes River and Cascade Mountain views could be incorporated into the redevelopment multi-story project for the enjoyment of the tenants. In the "Path of Progress" for downtown re-development, just south of the Portland Avenue intersection. (https://www.bendoregon.gov/government/departments/economic-development/opportunity zones.)
Currently is a long-standing interior storage unit facility with over 300 units on two separate floors ranging in sizes from 4'x4' to 30'x150'. Update management systems and pricing to generate higher gross sales while evaluating options to redevelop, keep as-is, or add an extra floor within the existing shell. (See performa attached in documents with additional information including floorplan et al). Zoned CL (Commercial Limited), property also falls within the Opportunity Zone for downtown Bend offering federal tax incentives for the investment of capital gains in businesses and local land development opportunities. and an excellent long term hold for future re-development, investment land hold with expansive views of the Cascade Mountain range, Deschutes River, Awbrey Butte. Parking reconfiguration would support redevelopment opportunities such as a brewpub, or boutique hospitality, indoor food lot, living space.
Current Unit Features:
-Units from 4' x 4' to 30' x 150'
(4x4) (4x7.5) (8x12) (12x12) (25x42) example of sizes
-60,000+ sq. ft. Storage Space
-Upstairs & Downstairs
-Freight Elevator
-All indoor units out of the elements
-Climate controlled units available
-Temperature moderated Wine Storage Area
-High ceilings to allow maximum capacity
-4 Loading bays
-Industrial strength carts & pallet jack
-Manager always on site
-Video surveillance 24/7
-Building is secured and alarmed
-Locks / Boxes / Packing Materials available
-Just blocks from downtown Bend
Wall Street Storage currently provides Business (Commercial), Residential, Wine and warehouse storage. Wall Street Storage is located in the Hudson Duncan Building. Hudson Duncan was a distributor of groceries and other commodities. In 1983, the building was converted to its present configuration that now houses Wall Street Storage.
Over 160,000 board feet of Ponderosa Pine was used in the construction of the building in 1939. Estimated values of these wood beams have come in at over $1 Million Dollars.
There are endless possibilities for the redevelopment future of this property utilizing the urban density landscape of downtown Bend, enjoying the cash flow of the present Storage business. (See photos).
