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15310 Highway 238
37.11 Acres of Commercial Land Offered at $2,200,000 in Grants Pass, OR 97527
Investment Highlights
- Currently Leased Until 2029
- 37.11 Acres Zoned EFU
- Lease Has Built-In Escalation
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
Property Facts
| Price | $2,200,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 37.11 AC |
| Price | $2,200,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 37.11 AC |
1 Lot Available
Lot
| Price | $2,200,000 | Lot Size | 37.11 AC |
| Price Per AC | $59,283.21 |
| Price | $2,200,000 |
| Price Per AC | $59,283.21 |
| Lot Size | 37.11 AC |
Description
Unique investment opportunity with a great ROI! This rural farm property has a true NNN lease to one of Oregon's largest and successful Cannabis farms. The current monthly lease rate is $18692.73 per month and the tenant covers all expenses. The lease has a built in Escalation of 4.5% annually and the current lease runs into 2029. The initial ROI for 2024 at the list price is 10.2% and increases as follows - 2025 10.65%, 2026 11.13%, 2027 11.64% and 2028 12.16%. The investment is anchored by a 3000 square foot residence on 37 acres of prime irrigated farmland in the heart of Southern Oregon's Premiere Wine Region. This sale does not include the cannabis business or assets on the property, it is a sale of the Real Estate and lease income only. Call listing agent for details.
PROPERTY TAXES
| Parcel Number | 10634642 | Improvements Assessment | $714,860 (2024) |
| Land Assessment | $49,438 (2024) | Total Assessment | $764,298 (2024) |
PROPERTY TAXES
zoning
| Zoning Code | EFU |
| EFU |
Presented by
15310 Highway 238
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