multnomah lodge no. 1

INVESTMENT REAL ESTATE SERVICES

MATT LYMANSenior Broker, Office & Industrial Properties503.225.8454 (O) | 503.507.4880 (C)[email protected]

JACK SCHAUBBroker, Office & Industrial Properties503.225.8481 (O) | 607.592.1356 (C)[email protected]

Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.

MULTNOMAH LODGE NO. 1707 - 709 MAIN STREET | OREGON CITY, OR 97045

SEPT 2021

OFFERING MEMOR ANDUM

CONFIDENTIAL

INVESTMENT REAL ESTATE SERVICES Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.INVESTMENT REAL ESTATE SERVICES

503.223.3171 • NORRIS-STEVENS.COM

HISTORIC NO 1 MASON LODGE707 - 709 MAIN STREETOREGON CITY, OR 97045

Executive SummaryHistorical Floor PlansProperty PhotosLocation MapFinancial InformationLocation Overview

CONTENTS

CONTACT INFOMATT LYMANSenior Broker, Office & Industrial Properties503.225.8454 (O)503.507.4880 (C)[email protected]

JACK SCHAUBBroker, Office & Industrial Properties503.225.8481 (O)607.592.1356 (C)[email protected]

INVESTMENT REAL ESTATE SERVICES Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.

OFFERING MEMORANDUM



MULTNOMAH LODGE NO. 1 | OREGON CITY, OR 97045

EXECUTIVE SUMMARY

Address: 707 - 709 Main Street

City/State: Oregon City, OR

Property Size: ± 29,700 SF

Year Built: 1907

Zoning: MUD

Site Size: ± 0.16 Acres (6,970 SF)

Property Taxes: $8,019

Stories: 5

Construction: Reinforced Concrete

Vacancy: 0%

Asking Price: Unpriced

HISTORYMultnomah Lodge No. 1 Ancient Free and Accepted Masons is the first Masonic Lodge constructed west of the Rocky Mountains. It was originally chartered by the Grand Lodge of Missouri in 1846 to be called Multnomah Lodge No. 84. When the Grand Lodge of Missouri failed to organize it as one of the Grand Lodges of Oregon in 1851, it became known as Multnomah Lodge Number 1.

PROPERTY SUMMARY


OFFERING MEMORANDUM




HISTORICAL FLOOR PLANS


OFFERING MEMORANDUM




PROPERTY PHOTOS

INVESTMENT REAL ESTATE SERVICES Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction.INVESTMENT REAL ESTATE SERVICES


LOCATION

N

MULTNOMAH LODGE NO. 1

OREGON CITYOREGON CITY

WEST LINNWEST LINN

MCLOUGHLIN BLVD

MCLOUGHLIN BLVD

MAIN ST

MAIN ST

OREGON CITY ARCH BRIDGE

OREGON CITY MUNICIPAL ELEVATOR

MI FAMIGLIA WOOD OVEN PIZZARIA

BLACK INK COFFEE

OREGON CITY GRILL

THE VERDICT BAR & GRILL

FOOD MART

MESA FRESCA NEBBIOLO RESTAURANT & WINE BAR

WEINHARD GRILL

SCHMIZZA PUBLIC HOUSE

COIN CORNER HOBBIES

OFFERING MEMORANDUMMULTNOMAH LODGE NO. 1 | OREGON CITY, OR 97045


OFFERING MEMORANDUM




FLOOR TENANT RATE (MONTHLY) SIZE

4th Confidential $5,600 NNN ± 4,500 SF

2nd & 3rd Clackamas County $13,120 NNN ± 11,500 SF

Main Confidential $945 NNN ± 700 SF

Main Confidential $2,450 NNN ± 2,000 SF

Main Confidential $4,221 NNN ± 2,500 SF

Basement Confidential $2,400 NN —

Basement Confidential $75 NN —

Basement Confidential $125 NN —

Monthly Gross Income $28,936

Annual Gross Income $347,232

OPERATING EXPENSES

Management $13,889

Janitorial $3,000

Annual Gross Expenses $16,889

NET OPERATING INCOME $330,343

RENTAL INCOME

FINANCIAL INFORMATION


OFFERING MEMORANDUM




LEASE COMPARABLES

507-511 MAIN STREETOregon City, OR

Tenant Mary Rose NW Boutique

Type Retail Starting Rent $36.60

Square Feet 1,800 Rent Bump % 2.0%/1 Yr

Lease Terms 3 Years Free Rent —

616 MAIN STREETOregon City, OR

Tenant Really Pr3tty Things




MAIN STREETOregon City, OR

Tenant Clackamas District Attorney

Type Office Starting Rent $12.00



719-721 MAIN STREETOregon City, OR

Tenant Good-2-Go


Square Feet 1,400 Rent Bump % —


415 CENTER STREETOregon City, OR

Tenant Illume Property Management



Lease Terms 3 Years Free Rent 1 Month


Tenant OC Taco



Lease Terms 10 Years Free Rent 3 Months


Tenant Private Investigations Office


Square Feet 2,050 Rent Bump % —


415 CENTER STREETOregon City, OR

Tenant Capital Design


Square Feet 626 Rent Bump % —


OFFICE

RETAIL

BUYER UPSIDE WITH BELOW MARKET RENTS

AVERAGE SF: 3,519 • AVERAGE STARTING RENT: $16.82

AVERAGE SF: 2,007 • AVERAGE STARTING RENT: $23.41

In addition to its location, history, and market position, Multnomah Lodge offers a buyer upside with below market rents.


OFFERING MEMORANDUM




LOCATION OVERVIEW

2 MILES 5 MILES 10 MILES

2021 Population: 39,736 146,217 598,302

2026 Population Projection: 41,342 152,077 618,264

2021 Households: 15,460 56,885 236,772

2026 Households Projection: 16,088 59,136 244,369

Median HH Income: $74,004 $80,515 $82,135

DEMOGRAPHICS

AREA OVERVIEWOregon City is located 13 miles South of Portland at the confluence of the Willamette and Clackamas Rivers. Oregon City is home to many local eateries and shops, recreational opportunities, a wide variety of historical and cultural attractions, and several interpretive centers and museums dedicated to celebrating the pioneer spirit. Oregon City was the first state capital and is the county seat of Clackamas County.

Source: orcity.org


OFFERING MEMORANDUM




MULTNOMAH LODGE NO. 1

LOCATION OVERVIEWGRAND RONDE WILLAMETTE FALLS PROJECT

On August 15, 2019, the Confederated Tribes of Grand Ronde purchased a 23-acre property at Willamette Falls that was formerly home to a Blue Heron Paper Company mill. The property, which sits on the east bank of the Willamette River in Oregon City, is located within the Tribe’s ancestral homelands land and holds significant historical and cultural importance for the Tribe.

The lands were once home to the Charcowah village of the Clowewalla (Willamette band of Tumwaters) and the Kosh-huk-shix Village of Clackamas people. They were ceded to the United States government under the Willamette Valley Treaty of 1855. Following the Willamette Valley Treaty, tribal members were forcibly removed from Willamette Falls and relocated to Grand Ronde.

THE VISION

Since acquiring the property in 2019, the Tribe has been working with a design team from GBD Architects and Walker | Macy to create a vision for the site. Focused on the central idea of healing, the vision will also be guided by the values of spirit, place, people and prosperity.

At the site itself, that vision will come to life through:

• Environmental restoration that will restore long-lost natural basalt landscape and water channels.

• Native plantings and restored riparian habitat to benefit native fish, birds and other wildlife.

• Thoughtful mixed-use development at the north end of the site that would visually and physically connect to the restored landscape.

• Opportunities include office, hospitality, institutional or educational spaces, tribal areas, public gathering spots and a long-planned riverwalk.

• Opportunities to share the story of the Tribe and its historical and cultural connection to Willamette Falls.

• Access to the falls for members of the Tribe and the general public.Content courtesy of Confederate Tribes of Grand Ronde

www.grandronde.org/press-media/project-updates/willamette-falls-project


Copyright © 2021 Norris & Stevens, Inc. Information contained herein has been obtained from others and considered to be reliable; however, a prospective purchaser or lessee is expected to verify all information to his/her own satisfaction. All photos © Joe Wilson.

MATT LYMANSenior Broker, Office & Industrial Properties503.225.8454 (O) | 503.507.4880 (C)[email protected]

JACK SCHAUBBroker, Office & Industrial Properties503.225.8481 (O) | 607.592.1356 (C)[email protected]

multnomah lodge no. 1

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