Retail Building on Fenced
For Sale
Contact for pricing
121 River Ave, Eugene, OR
4,640 SF retail building on 0.80 acres for sale.
Property Size4,540 SF
Lot Size0.81 Acres
Price / SF$219.16
Days on Market1164
Property Features for 121 River Ave
General Information
Standard status
Active
Size
4,540 SF
Lot size
0.81 Acres
Property subtype
RETAIL
Listing Agency:
Evans, Elder, Brown & Seubert
(541) 345-4860
Listed By:
Jeff Elder
Source:
Moodyscre
Added: Jun 14, 2023
Changed: Aug 8
Last Checked: May 20 at 9:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Evans, Elder, Brown & Seubert
Investment Insights
Based on property information with market context.
This is a 4,640 square foot retail building situated on 0.80 acres. The property is zoned Community Commercial (C-2) and is fully fenced.
Key Highlights
- 4,640 square foot retail building
- Zoned Community Commercial (C‑2)
- 0.80 acres fully fenced
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,899
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,317,980
$1.3M
Cap Rate 7%
$941,414
$941.4K
Cap Rate 9%
$732,211
$732.2K
Market Conditions
NOI Build-Up for 4,540 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$98.1K $21.60/SF
− Vacancy
−$3.9K −$0.86/SF
EGI
$94.1K $20.74/SF
− OpEx
−$28.2K −$6.22/SF
NOI
$65.9K $14.52/SF
Area
Eugene, OR
Vacancy
4.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,317,980
Cap Rate 7%
$941,414
Cap Rate 9%
$732,211
Alternative Uses
Best Use
Retail
$941.4K
$823.7K – $1.10M
NOI $65,899 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,885 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
363k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Groceries 33%
Shops & Services 30%
Apparel 2%
Fred Meyer
Groceries
70,184 visits/mo
0.2 miles
Albertsons
Groceries
31,438 visits/mo
0.4 miles
McDonald's
Dining
27,656 visits/mo
0.0 miles
Fred Meyer Gas Station
Shops & Services
27,383 visits/mo
0.2 miles
Dollar Tree
Shops & Services
25,088 visits/mo
0.1 miles
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 4,640 SF retail building on 0.80 acres for sale.
Where is this retail space located?
The property is located at 121 River Ave Eugene, OR.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,640 square foot retail building; Zoned Community Commercial (C‑2); 0.80 acres fully fenced
