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    488 Main St Springfield, OR 97477

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    For Sale
    $4,950,000

    New mixed-use property with apartments, retail, and live/work spaces.

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    New Mixed-Use Development in Springfield

    Rivett on 5th & Main is a mixed-use development completed in December 2024 in the Eugene/Springfield metro area. The property features 12 townhouse-style apartments on the second floor, along with two retail spaces and one live/work unit. The property is architecturally designed and includes top-of-the-line amenities. There is a 10-year property tax freeze on the apartments, excluding the commercial units. Lease-up has recently begun, and at the asking price, the seller will lease back any apartment unit not leased by closing.
    Location Intelligence

    Current Use by Public Records

    Live-work space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Lane
    State
    Oregon
    Longitude
    -123.0193346
    Latitude
    44.0463673

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    FAQs

    What type of property is this?
    Live-work space - New mixed-use property with apartments, retail, and live/work spaces.
    Where is this live-work space located?
    The property is located at 488 Main St Springfield, OR.
    What is the asking price?
    The asking price for this property is $4,950,000.
    What are key features of this property?
    This property features: - New construction completed December 2024 in the Eugene/Springfield metro area.; - Enjoy a 10-year property tax freeze on apartments.; - Seller will lease back any unleased apartment units at closing.
    Request Owner's contact information
    488 Main St Springfield, OR 97477
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    Springfield, OR 97477
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    Realmo Value Estimation

    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.

    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.

    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
    488 Main St Springfield, OR 97477
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