Medical Office with Main Street
New
For Sale
$199,900
1235/1245 Main St, Sweet Home, OR 97386
Commercial, Sweet Home, OR
Property Size2,156 SF
Lot Size0.07 Acres
Price / SF$92.72
Days on Market4
Property Features for 1235/1245 Main St
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C1
View
Territorial
Directions
Home is on southside of Main st (hwy 20) in the block between 12th & 13th
Standard status
Active
Size
2,156 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
2677
Utilities
Heating system
Electric (Heating), Zoned
Cooling system
Window Unit(s), Electric
Building Details
Year built
1938
Roof type
Other
Listing Agency:
HOMESMART REALTY GROUP - SWEET HOME
Listed By:
KARLA HOGAN · License #980900018
(541) 409-0547
Added: Aug 27
Last Checked: Aug 30 at 1:06PM
MLS# 845022
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,156-square-foot medical office property, built in 1938, is arranged for professional operations with a reception area, waiting room, private offices, and additional workspace. The property includes two separate tax accounts, allowing the building to function as a combined holding or as distinct spaces. C1 zoning supports its commercial office classification.
Positioned on Main Street in Sweet Home, the property includes direct frontage and convenient alley access. It is near Festival Street on 13th Ave, with the site’s location providing access to established community activity. Heating is provided by zoned electric systems, while cooling is handled by electric window units.
Positioned on Main Street in Sweet Home, the property includes direct frontage and convenient alley access. It is near Festival Street on 13th Ave, with the site’s location providing access to established community activity. Heating is provided by zoned electric systems, while cooling is handled by electric window units.
Key Highlights
- 2,156 SF medical office property built in 1938
- Two separate tax accounts included
- Reception, waiting room, private offices, and functional workspace
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
$12,482
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
6.24%
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%
$249,640
$249.6K
Cap Rate 7%
$178,314
$178.3K
Cap Rate 9%
$138,689
$138.7K
Market Conditions
NOI Build-Up for 2,156 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
$22.0K $10.20/SF
− Vacancy
−$1.2K −$0.55/SF
EGI
$20.8K $9.65/SF
− OpEx
−$8.3K −$3.86/SF
NOI
$12.5K $5.79/SF
Area
Linn County, OR
Vacancy
5.40%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
40.00%
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%
$249,640
Cap Rate 7%
$178,314
Cap Rate 9%
$138,689
Alternative Uses
Best Use
Office B
$562.6K
$492.3K – $656.4K
NOI $39,382 @ 7.0% cap · market cap 19.70%
Second Best
Healthcare Medical
$178.3K
$156.0K – $208.0K
NOI $12,482 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$628.1K
$549.6K – $732.8K
NOI $43,966 @ 7.0% cap · market cap 21.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97386, OR
14,611
Population
6,339
Households
2.3
Avg Household Size
44
Median Age
11%
College-Educated
87%
High-School Grad
125.9 sq mi
ZIP Area
116
Density / Sq Mi
$68,116
Median Household Income
$37,125
Median Earnings
$1,141
Median Rent
$302,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sweet Home Veterinary Hospital — 1214 Long St, Sweet Home, OR 97386
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two tax accounts and alley access support flexible office configuration in a central Sweet Home setting.
Where is this medical office space located?
The property is located at 1235/1245 Main St Sweet Home, OR.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 2,156 SF medical office property built in 1938; Two separate tax accounts included; Reception, waiting room, private offices, and functional workspace
