Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Spruce St unit Tl2502 Florence, OR 97439

    View on Map
    Claim this Listing
    For Sale
    $350,000

    LAND - Florence, OR

    Type:Single Family Residence
    Lot size:
    11.95 Acres
    Added:
    Jan 26, 2026
    Days on Market:
    76
    Last Refresh:
    Apr 12 at 2:06 am

    Property Features for Spruce St unit Tl2502

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    MRF2BD
    Standard status
    Active
    APN
    1909413
    Lot size
    11.95 Acres

    Taxes and HOA fees

    Tax Description
    18-12-11-00-02502
    Tax Annual Amount
    2664

    We can help!

    Listing Contact
    Maureen Hewlett

    Listing agent Maureen Hewlett

    Listing office West Coast Real Estate Service 1870 Hwy 126, Suite A, Florence, OR

    Listing date Jan 26, 2026

    MLS# 347940119

    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.

    Overview

    Florence Land Development Opportunity

    This 11.95-acre parcel presents a development opportunity with north-south frontage along undeveloped Spruce Street. Situated directly north of Parcel 1, where Spruce Street is partially developed, the property benefits from utilities already available at the southwest corner of Parcel 1, offering nearby access for future infrastructure extension. Zoned MRF2BD, the property allows for a minimum lot size of 5,000 square feet and permits up to two attached living units per lot, making it suitable for townhome or duplex-style residential development.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Florence
    County
    Lane
    State
    Oregon
    Longitude
    -124.09687
    Latitude
    44.015336

    Nearby Similar for Sale

    • $700,000
      6,500 SF

      Highway 101 Visible Commercial Property

      Commercial property in Florence with highway visibility and flexible zoning.
      1130 Quince Street, Florence, OR 97439
      View Details
    • $745,000
      3,168 SF

      Modern Florence Multifamily Investment Property

      Well-maintained 4-plex near park and schools, turnkey rental portfolio.
      1610 19TH St, Florence, OR 97439
      View Details
    • $300,000

      Siuslaw Riverfront Lot in Florence

      Riverfront lot in gated community, ready for custom home.
      59 SHORELINE Dr unit: 59, Florence, OR 97439
      View Details
    • $458,000

      Highway Frontage Commercial Lot

      Prime commercial lot with highway frontage in Florence, Oregon.
      1073 HIGHWAY 101, Florence, OR 97439
      View Details
    • $339,000

      Prime Commercial Land Near Highway

      Commercial land near Highway 101, close to amenities.
      TL 2000 HIGHWAY 101, Florence, OR 97439
      View Details
    • $145,000

      Oregon Coast RV Ready Land

      RV-ready land with amenities in gated coastal community.
      71 CASTAWAY, Florence, OR 97439
      View Details
    • $395,000

      Commercial Land in Florence, Oregon

      2.45 acres of commercial land with utilities available.
      5301 HIGHWAY 101, Florence, OR 97439
      View Details
    • $40,000

      Coastal Land Investment Opportunity

      Five lots near the beach in gated community.
      Shoreline Dr unit: 116-120, Florence, OR 97439
      View Details
    • $129,000

      Corner Parcel in Woahink Ridge

      Corner lot in Florence's desirable Woahink Ridge Estates.
      5591 CHITTUM Loop, Florence, OR 97439
      View Details
    • $128,500

      Charming Coastal Living in Florence

      Furnished RV in gated community near Oregon Coast.
      83 MANZANITA Way, Florence, OR 97439
      View Details
    • $137,000

      Land with Travel Trailer Included

      Lot in gated community with included travel trailer.
      248 HORSESHOE BEND, Florence, OR 97439
      View Details
    • $450,000

      Residential Land Development Opportunity

      Development opportunity in Florence, Oregon, suitable for townhomes or duplexes.
      Spruce St unit: Tl2503, Florence, OR 97439
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential development land with utilities nearby in Florence, Oregon.
    Where is this residential land & home lot located?
    The property is located at Spruce St unit Tl2502 Florence, OR.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Development opportunity with north‑south frontage on Spruce Street.; Utilities are available nearby at the southwest corner of Parcel 1.; Suitable for townhome or duplex‑style residential development.
    (541) 991-7794
    We can help!
    Listing Contact
    Maureen Hewlett
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!