Freestanding Two-Story Office
For Sale
$1,195,000
944 5TH AVE, Eugene, OR 97402
Two-story office building features 17 private offices, three large conference rooms, and 15 onsite parking spaces.
Property Size6,732 SF
Price / SF$177.51
Days on Market479
Property Features for 944 5TH AVE
General Information
Standard status
Active
Size
6,732 SF
Total Parking Spaces
15
Property subtype
Office
Zoning
C2
Additional Details
Office Units
17
Amenities
conference rooms
Heat Pump
3
Membrane
15 Parking Spaces. On Site.
City
SqFt10000to14999
Fenced, Office/Library. Paved Road.
Building Details
Year Built
1974
Stories
2
Listing Agency:
Windermere RE Lane County
(541) 484-2022
Listed By:
Kristena Cox
(541) 501-3399
Source:
Xome
Added: May 15, 2025
Changed: Sep 4
Last Checked: Sep 4 at 4:30AM
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 Windermere RE Lane County
Investment Insights
Based on property information with market context.
This freestanding, two-story walkup office building includes 17 private offices and three large conference rooms, providing a practical setup for day-to-day workplace use.
Located in the Whiteaker neighborhood of Eugene, the property is described as being prominently positioned. C2 zoning allows for a wide range of uses.
The offering is available for sale, lease, or lease with an option to buy, with 15 onsite parking spaces available for visitors and staff.
Located in the Whiteaker neighborhood of Eugene, the property is described as being prominently positioned. C2 zoning allows for a wide range of uses.
The offering is available for sale, lease, or lease with an option to buy, with 15 onsite parking spaces available for visitors and staff.
Key Highlights
- Two‑story free‑standing office building in the Whiteaker neighborhood, built in 1974
- Layout includes 17 private offices and 3 large conference rooms
- C2 zoning allows a wide range of uses (zoning listed as C2, also shown as S‑W)
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
$103,000
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
8.62%
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%
$2,060,000
$2.1M
Cap Rate 7%
$1,471,429
$1.5M
Cap Rate 9%
$1,144,444
$1.1M
Market Conditions
NOI Build-Up for 6,732 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
$161.6K $24.00/SF
− Vacancy
−$24.2K −$3.60/SF
EGI
$137.3K $20.40/SF
− OpEx
−$34.3K −$5.10/SF
NOI
$103.0K $15.30/SF
Area
Eugene, OR
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,060,000
Cap Rate 7%
$1,471,429
Cap Rate 9%
$1,144,444
Alternative Uses
Best Use
Office B
$1.47M
$1.29M – $1.72M
NOI $103,000 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,180 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17
Office units
Location Intelligence
Trade Area within ½ mile
1,862
Businesses Nearby
Explore this area
Business Placement
Demographics for 97402, OR
56,610
Population
23,882
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
91%
High-School Grad
68.6 sq mi
ZIP Area
825
Density / Sq Mi
$55,743
Median Household Income
$35,728
Median Earnings
$1,287
Median Rent
$330,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building features 17 private offices, three large conference rooms, and 15 onsite parking spaces.
Where is this office building located?
The property is located at 944 5TH AVE Eugene, OR.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Two‑story free‑standing office building in the Whiteaker neighborhood, built in 1974; Layout includes 17 private offices and 3 large conference rooms; C2 zoning allows a wide range of uses (zoning listed as C2, also shown as S‑W)
