Remodeled Commercial Building with
For Sale
$349,000
Pending
612 N 1ST, Silverton, OR 97381
Remodeled vintage building suitable for commercial or residential use.
Property Size1,331 SF
Lot Size0.18 Acres
Days on Market950
Property Features for 612 N 1ST
General Information
Standard status
Pending
Size
1,331 SF
Lot size
0.18 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,637
Amenities
Central air
Composition Roof
Forced Air Heating
Heat Pump Cooling
On Site
Building Details
Year Built
1925
Listing Agency:
BELLA CASA REAL ESTATE GROUP
(503) 874-1540
Listed By:
JOSEPH GIEGERICH · License #930500235
(503) 931-7824
Source:
Corcoran
Added: Mar 27, 2024
Changed: Oct 28
Last Checked: Nov 1 at 5:31AM
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 BELLA CASA REAL ESTATE GROUP
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Investment Insights
Based on property information with market context.
This remodeled vintage home, currently operating as an acupuncture health center, is available for sale. Situated on a 7680 sq ft corner lot, the 1331 sq ft building features off-street parking for 6 cars and an ADA ramp. The property is in excellent condition and includes upgrades such as a new 40-year architectural composition roof, a heat pump with a high-efficiency furnace and air conditioner, upgraded electrical systems, and vinyl siding. The property has potential for both residential and commercial use. The seller will consider a seller contract sale with 1/3 down, 6% interest rate, 5 year term.
Key Highlights
- Prime commercial corner location with high visibility.
- Large 7680 sq ft lot with off‑street parking for 6 cars.
- Remodeled vintage home suitable for commercial or residential use.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,266
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,320
$325.3K
Cap Rate 7%
$232,371
$232.4K
Cap Rate 9%
$180,733
$180.7K
Market Conditions
NOI Build-Up for 1,331 SF
Gross rent
$29.5K $22.20/SF
− Vacancy
−$7.9K −$5.91/SF
EGI
$21.7K $16.29/SF
− OpEx
−$5.4K −$4.07/SF
NOI
$16.3K $12.22/SF
Area
Marion County, OR
Vacancy
26.60%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,320
Cap Rate 7%
$232,371
Cap Rate 9%
$180,733
Alternative Uses
Best Use
Office B
$232.4K
$203.3K – $271.1K
NOI $16,266 @ 7.0% cap · market cap 4.66%
Second Best
Healthcare Medical
$192.6K
$168.6K – $224.7K
NOI $13,484 @ 7.0% cap · market cap 3.86%
Theoretical Best
Specialty Retail
$313.0K
$273.9K – $365.2K
NOI $21,912 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97381, OR
16,313
Population
5,882
Households
2.8
Avg Household Size
40
Median Age
31%
College-Educated
92%
High-School Grad
110.0 sq mi
ZIP Area
148
Density / Sq Mi
$84,077
Median Household Income
$42,337
Median Earnings
$1,491
Median Rent
$497,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Abiqua Animal Clinic — 805 Oak St, Silverton, OR 97381
Frequently Asked Questions
What type of property is this?
Medical Office Space - Remodeled vintage building suitable for commercial or residential use.
Where is this medical office space located?
The property is located at 612 N 1ST Silverton, OR.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Prime commercial corner location with **high visibility**.; Large 7680 sq ft lot with off‑street parking for 6 cars.; Remodeled vintage home suitable for commercial or residential use.
