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    Oversized Lot in Ferry Street Title is generated by Realmo AI

    Butte Ln, Eugene, OR 97401

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    Claim this Listing
    For Sale
    $475,000

    LAND - Eugene, OR

    Lot size:
    0.70 Acres
    Added:
    Apr 23, 2024
    Days on Market:
    775
    Last Refresh:
    Jun 6 at 7:06 pm

    Property Features for Butte Ln

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R1
    Standard status
    Active
    APN
    1879186
    Lot size
    0.70 Acres

    Taxes and HOA fees

    Tax Description
    Map & Taxlot: 17-03-19-43-00306
    Tax Annual Amount
    4287

    We can help!

    Listing Contact
    Brek Splittgerber
    Brek Splittgerber

    Listing agent Brek Splittgerber License #201212408

    Listing office Keller Williams Realty Eugene and Springfield 2645 Suzanne Way Suite 2A, Eugene, OR

    Listing date Apr 23, 2024

    MLS# 24524400 Listing URL

    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.

    HighLights

    • Oversized .70 acre buildable lot in Ferry Street Bridge.
    • Sewer and waste water lines connected for two home sites.
    • Potential for lot division.
    • Enjoy Coast Range and city views.
    • Located on a cul de sac with little traffic and easy access.
    • Mostly cleared and gently sloped.

    Overview

    This 0.70-acre lot is located on Gillespie Butte in the Ferry Street Bridge area. The property is positioned on a cul-de-sac with easy access. The lot is mostly cleared and gently sloped. Sewer and wastewater lines have been trenched and connected to the city for two home sites. The lot may be dividable. The property offers views of the Coast Range and the city. A lot line stake is in the ground on the northeast corner just below Crenshaw Road. The property is zoned R1 and is intended for residential land and home lots. Potential land uses or lot line adjustments are subject to buyer's due diligence.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Eugene
    County
    Lane
    State
    Oregon
    Longitude
    -123.095129
    Latitude
    44.072279

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    FAQs

    What type of property is this?
    Land - Rare 0.70 acre lot in Ferry Street Bridge area.
    Where is this land located?
    The property is located at Butte Ln Eugene, OR.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Oversized .70 acre buildable lot in Ferry Street Bridge.; Sewer and waste water lines connected for two home sites.; Potential for lot division.
    (541) 556-0621
    We can help!
    Listing Contact
    Brek Splittgerber
    Brek Splittgerber
    Real Estate License ID: 201212408
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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
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