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    600 4Th St Gervais, OR 97026

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    Sponsored
    For Sale
    $3,500,000

    MULTI_FAMILY - Gervais, OR

    Property size:
    1,000 SF
    Lot size:
    0.46 Acres
    Days on Market:
    8
    Last Refresh:
    Mar 6 at 9:06 pm

    Property Features for 600 4Th St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    Zoning
    COM
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
    Bedrooms
    2
    APN
    599287
    Size
    1,000 SF
    Lot size
    0.46 Acres

    Utilities

    Cooling system
    Wall Unit(s)

    Building Details

    Year built
    2025
    Floors in Building
    3
    Number of units
    8
    Roof type
    Composition

    We can help!

    Listing Contact
    Patrick Ledbetter

    Premiere Property Group, LLC (503) 670-9000

    Listing agent Patrick Ledbetter (503) 670-9000

    Listing date Feb 27, 2026

    MLS# 594412183

    Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    New Multifamily and Retail Investment

    This property features eight new apartments and four retail/business offices in downtown Gervais. The luxury apartments are 1,000 square feet with 9-foot ceilings, kitchens, LVP flooring, granite countertops, stainless steel appliances, two bedrooms, two baths, air-conditioning, washer/dryer hookups, a balcony, and storage. The ground-level retail/office units can be divided from 2,000 square feet to 1,000 square feet or smaller. Potential uses include a hair salon, nail salon, chiropractic office, or accountant's office. The parking lot is large enough to accommodate culinary food trailers/trucks. There is an area on the south side of the parking lot approved for an 800-square-foot commercial building that is already plumbed for water and sewer. The property is located minutes from I-5, between Portland and Salem. Gervais has its own schools, from elementary through high school. The estimated time of completion is July. The property is located in Gervais, Oregon, and offers easy access to I-5 in Woodburn, between Portland and Salem. The lot size is 0.46 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Skin Care Clinic Department Store Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gervais
    County
    Marion
    State
    Oregon
    Longitude
    -122.896998
    Latitude
    45.108851

    FAQs

    What type of property is this?
    Apartment building - New 8-unit apartment and retail space in Gervais, Oregon.
    Where is this apartment building located?
    The property is located at 600 4Th St Gervais, OR.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: - Brand new construction: **8 luxury apartments** (1,000 sqft, 2 bed/2 bath) and 4 retail/office spaces.; - High income potential: Projected yearly gross income over $300,000.; - Seller financing available: Contract possible for 20 years with a sizable down payment.
    (503) 969-9958
    Request Owner's contact information
    600 4Th St Gervais, OR 97026
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    Gervais, OR 97026
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    600 4Th St Gervais, OR 97026
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    We can help!
    Listing Contact
    Patrick Ledbetter
    Real Estate License ID: 201217839
    (503) 969-9958 (503) 670-9000
    Learn more
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