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Pacific City Oregon Real Estate - DOC

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Pacific City Oregon Real Estate document sample

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									Tualatin River & Pacific Highway Frontage

Prime Commercial Acreage in Tualatin, Oregon




                    Contact
                  Ken Streater
        Re/Max Land and Homes Real Estate


800-311-4234 | www.PacificHwyProperty.com | 541-325-2027
   Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage


Introduction
The Tualatin River and Pacific Highway frontage prime commercial acreage is located adjacent
to the City of Tualatin, at 17865 Pacific Highway (Hwy. 99), in Washington County, Oregon.
Tualatin is located along the Interstate 5 corridor, approximately 15 minutes south of Portland.
The four-lane Pacific Highway is the primary artery from a series of communities west of
Tualatin to the Interstate 5 corridor and the cities of Beaverton, Tigard, and Portland. Daily
commuter and recreational vehicle traffic is substantial. This parcel is found on the northeast
corner of Pacific Highway and 124th Avenue and consists of 11.61 acres of which approximately
600 feet lie along the Tualatin River. It is made up of three separate tax lots, three zoning
designations, and has historically recognized ingress and egress points to the Pacific Highway.

The land is presently the site of the 30-unit Mobile La Vista Court manufactured home park
owned by the Espedal Family Trust. The park is slated for closure in October 2007. This date was
determined and deemed legally appropriate as the result of lawful closure processes by the
members of the Espedal Family Trust, measures recognized by the State of Oregon.

Originally designated as part of the Hazelbrook Farm, in 1973 Russell and Helen Espedal
purchased their first section of land here and began excavation work to allow for development.
Russell was a professional heavy equipment operator and jack of all trades who ultimately
terraced the property to create three development plains. They later added additional parcels that
led to the full 11.61 acres included today. In the early 1990’s Russell and Helen formed the
Espedal Family Trust and placed all of this land in that name. After their passing their children
took ownership of the land via the Trust and now offer it for sale.

Zoning and Annexation
As noted above, this property is presently located in Washington County and not yet in the
incorporated portion of the City of Tualatin. It is currently zoned by Washington County as FD-
10. FD-10 is an umbrella designation that allows for future development on a 10-acre or larger
site. FD-10 regulations state that:

        “The FD-10 District applies to the unincorporated portions of some city active
        planning areas where these cities are the only available source of urban services.
        The FD-10 District is in limited agricultural, forest, or residential use. The FD-10
        District recognizes the desirability of encouraging and retaining limited interim uses
        until a need for more intensive urban land use activities develops and such lands are
        annexed to a city.”

The City of Tualatin has shown a preference for this area to be zoned for mixed commercial
and/or high density residential use. It concludes that this region is unique in terms of recreation,
commercial, and historical use. It summarizes its preferred land use objectives by claiming that
this area:

        “…is unique in character and history. It has served the needs of the traveling and
        recreating public for many years and forms a part of the history of the Portland
        metropolitan area. It is appropriate to continue the general land use pattern of highway
        and recreation oriented commercial activity in this area, even including the provision of
        housing in a mixed-use type of development.”


        800-311-4234 | www.PacificHwyProperty.com | 541-325-2027
    Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage


Based on the above historical, practical, and philosophical finding this property is presently
considered by the City of Tualatin to be best zoned for High Density Residential, Commercial
General and Recreational Commercial uses. As reflected in the code and the above statement
of purpose, a wide variety of developments would likely be considered and allowed.

There is no formal timeline for annexation into the City as directed by City officials, but
indications are this property is very sought after by the City for inclusion into its incorporated
area. The City has stated that intended development of this property will drive the annexation.

Potential Development
There are several exceptional reasons and many different opportunities on this prime
development land. Considered uses for this large acreage parcel include a restaurant row,
boutique motel, mixed retail and residential, and upscale multi-unit residential housing.

Numerous strong property assets allow for consideration of a variety of developments:

   Location on a major commute and recreation highway
   Adjacency to the Tualatin river and open space
   Proximity to major metropolitan areas and large population bases
   Size of the parcel allows for mixed use or larger single development
   Topography that renders unique design opportunities
   Population boom in the northwest such as the 3000% growth in Tualatin from 1970 to 2000

Price
$4,900,000.00

Additional Information
For additional information please contact Ken Streater, RE/MAX Land and Homes; 1730 SW
Parkway, Redmond, Oregon, 97756; 800-311-4234 or 541-325-2027; FAX: 541-923-7495;
email Ken@CommercialPropertyOregon.com

Financial statements for the manufactured home park are available. A confidentiality agreement
included at the end of this packet must be signed and returned prior to receiving these statements.

Other sources of information include:
This property’s website (available 11/1/06): www.PacificHwyProperty.com

Tualatin Zoning and Development Code:
http://www.ci.tualatin.or.us/city/departments/legal/images/tdc/TDC6.pdf

Washington County Zoning and Development Code:
http://www.co.washington.or.us/deptmts/lut/LAND_DEV/CDC/comdev.htm

Subsequent Pages
Following are plat maps, property demarcations, and tax and ownership information and the
confidentiality agreement.



        800-311-4234 | www.PacificHwyProperty.com | 541-325-2027
Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage




   800-311-4234 | www.PacificHwyProperty.com | 541-325-2027
Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage




   800-311-4234 | www.PacificHwyProperty.com | 541-325-2027
Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage




   800-311-4234 | www.PacificHwyProperty.com | 541-325-2027
Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage




   800-311-4234 | www.PacificHwyProperty.com | 541-325-2027
Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage




   800-311-4234 | www.PacificHwyProperty.com | 541-325-2027
Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage




   800-311-4234 | www.PacificHwyProperty.com | 541-325-2027
   Tualatin River & Pacific Highway Frontage Prim e Commercial Acreage


                        CONFIDENTIALITY AGREEMENT
             IN CONTEMPLATION OF REAL ESTATE/BUSINESS PURCHASE

AGREEMENT and acknowledgement between Espedal Family Trust/Mobile La Vista Court
(Company) and _______________________________________ (Undersigned).

Whereas, the Company agrees to furnish the undersigned certain confidential information relating
to the affairs of the Company for purposes of purchasing said real estate/business;

Whereas, the undersigned agrees to review, examine, inspect or obtain such information only for
the purposes described above, and to otherwise hold such information confidential pursuant to the
terms of this agreement;

BE IT KNOWN, that the Company has or shall furnish to the undersigned certain confidential
information and may further allow the undersigned the right to inspect the business of the
Company and/or interview employees or representatives of the Company, all on the following
conditions:

1. The undersigned agrees to hold all confidential or proprietary information or trade secrets
   ["information"] in trust and confidence and agrees that it shall be used only for the
   contemplated purpose, shall not be used for any other purpose or disclosed to any third party,
   except for accountants, attorneys, and other parties directly involved with determinations
   related to the purchase of the Company.

2. No copies will be made or retained of any written inf ormation supplied.

3. At the conclusion of our discussions, or upon demand by the Company, all information,
   including written notes, photographs, memoranda, or notes taken by you shall be returned to
   us.

4. This information shall not be disclosed to any employee or consultant unless they agree to
   execute and be bound by the terms of this agreement.

5. It is understood that the undersigned shall have no obligation with respect to any information
   known by the undersigned or generally known within the industry pr ior to date of this
   agreement, or becomes common knowledge within the industry thereafter.

Signed:


________________________________                         ________________________________
Espedal Family Trust Member                              Your Name Here

______________________Date______                         ______________________Date______
Espedal Family Trust                                     Your Signature Here



       800-311-4234 | www.PacificHwyProperty.com | 541-325-2027

								
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