For months, commuters on North Albany Road have driven past the closed Express Lube and car wash business at the corner of the Albany-Corvallis Highway. Now there’s a sign the corner may not remain dormant too much longer.
The Albany Planning Division on Wednesday gave public notice of a filing concerning the property, at 527 North Albany Road.
A design and development company from Irvine, Calif., filed a site plan calling for changes in the circulation pattern on the nearly one-acre property, and for the addition of vacuum stalls at the car wash.
Drawings show the business as a branch of the “Oil Stop Drive-Thru” chain. The car wash is to be called a “Happy Car Wash.”
The property is owned by The Carrington Company, a commercial property management firm based in Eureka, Calif.
Benton County tax records list the property as having a real market value of about $1.8 million, but its assessed value is only about $300,000.
After a former gas station shut down there, the property was vacant for many years. In 2005 it had a market value of $164,000 and an assessed value of $86,000. After the existing buildings were added, the county in 2006 valued the property at $401,000, and $86,000 for tax purposes.
Since then, the real market value has gone up like a rocket while its taxable value, limited by the state constitution, rose by a steady 3 percent a year. (hh)