47
116
PUBLISHED RESERVE: $365,000
LAST ASKING: $490,000
SIZE: 9,629± Square Foot Building on 37,000± Square Foot
Site
ZONING: C (Commercial)
PROPERTY INSPECTION:
Wednesday, October 22, 1:00 p.m. to 3:00 p.m.
Sunday, November 9, 11:00 a.m. to 1:00 p.m.
FINANCING: None – All Cash
DESCRIPTION: This former 9,629± square foot bank branch building is located in downtown Toledo,
five miles east of the coastal resort community of Newport, at the corner of Highway 20 and NE 1st
Street. The two-story building was constructed in 1994, and has an elevator.
The building’s main level is 3,948± square feet, and contains a two-story lobby atrium, private offices,
a conference room, storage room, one restroom, service-counter-teller area, and walk-in vault. The
second floor is 1,829± square feet, and contains an open-office area, break room, and two restrooms.
The basement is 3,852± square feet, and contains private offices, a storage area, open-office area, and
one restroom.
The building’s exterior is of attractive wood frame, with shingle siding. A glass drive-through teller
window is on the west side of the building. The 37,000± square foot site has twenty-eight on-site
parking spaces, and has entry from both NE 2nd and NE 1st Streets. The building is in good condition,
and could be re-used for office space, or other commercial uses including a creative renovation as a
brew pub with walk-in vault. There may be opportunity to construct an additional small building on
the eastern portion of the property using some of the unimproved land and part of the parking lot.
LOCATION: 222 NE Highway 20, Toledo, Oregon. Township 11 South, Range 10 West, Section 17, Tax
Lots 1800, 2000, 2001 and 2100
SEALED BIDS DUE NO LATER THAN 5:00 PM, NOVEMBER 19, 2014
Former Bank Branch with Walk-In Vault and with Excess Land
Toledo, Oregon
Highway 20
NE 2nd Street
To Newport
Georgia Pacific
Yaquina River
NE 1st Street
N
