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Property profile & analytics
OFF-MARKET Estimated value $625,000
Investment properties

424 1st SE Ave Albany, OR 97321-2766

8,619 SF 0.08 ac lot Built 1980
Trust Owned ~ Est. High Equity
Property ID
US71-0425885
Property summary
AI-generated overview

This exceptional 5,228 square foot commercial property, located at 424 1st Avenue, Unit 424 in the heart of Albany, Oregon, presents a unique investment opportunity. Built in the 1900s, this classic historical building boasts 7,264 square feet of stunning glass-front retail space, providing unparalleled visibility and street presence. The property features 50 feet of frontage on 1st Street, ensuring maximum exposure to potential customers. Currently configured as a single large space, the layout offers incredible flexibility. The open floor plan is ideal for a variety of retail or commercial uses, and the existing structure allows for easy division into multiple tenant units, maximizing rental income potential. Behind the expansive display area, ample back storage space is available, complemented by two functional loft areas, adding versatility and potential for additional office or storage space. The building's character is further enhanced by its exposed brick and glass construction, creating a unique and attractive aesthetic. The roof is a TPO membrane, approximately 10 years old, ensuring long-term structural integrity. The 0.06-acre lot provides convenient access and ample space for customer parking or outdoor displays. This property is a rare find, combining historical charm with modern functionality in a prime downtown location.

Property profile
Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1980
Total area 8,619 SF
Lot 0.08 ac (3,485 SF)
APN 11S 03W 06CD 10401
UPID US71-0425885
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Bike N Hike (Bike/Boat/Book/etc) Store
  • I.S.I World Of Roofing Roofing Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$624k
Blend (final) Blend
$625k
Owner & transaction history
Derek J Whiteside Trust
Derek J Whiteside Trust
since 2026
5 recorded transactions
2026
$475,800
2007
$284,000
2001
$270,000
2001
$240,000
2000
$210,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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