This offering features a 4,472 square foot industrial building situated on a 0.19-acre (8,298 SF) parcel. Positioned just one block from the Oregon State University campus, the site offers a rare turn-key opportunity for immediate owner-occupancy, as well as compelling long-term potential for redevelopment into student housing or multifamily residential use to serve the expanding university population. Built in 1953 and occupied for decades by Bob Forrest Engine Rebuilders, the property is currently vacant with no active lease, allowing immediate possession in a highly supply-constrained submarket.
The property is currently zoned Corvallis GI (General Industrial). To support Oregon State University’s record enrollments, housing demand has driven substantial residential development into the surrounding neighborhood. While current industrial zoning does not permit residential or student housing by right, the parcel is uniquely positioned for investors looking to pursue redevelopment pathways (including the LI-O buffer zone, MUT zone, or OSU Zone Update).
