Professional Office Building For
For Sale
Contact for pricing
1290 W Centennial Blvd, Springfield, OR 97477
Well-maintained office building suitable for medical or professional use.
Property Size3,339 SF
Lot Size0.26 Acres
Price / SF$269.54
Days on Market175
Property Features for 1290 W Centennial Blvd
General Information
Standard status
Active
Size
3,339 SF
Class
B
Lot size
0.26 Acres
Property subtype
Office
Occupancy
100%
Building Details
Year Built
1915
Stories
2
Tenancy
Single
Listing Agency:
Campbell Commercial Real Estate
Listed By:
Milton Oilar · License #920700142
Source:
Crexi
Added: Feb 17
Changed: Aug 8
Last Checked: Aug 11 at 12:14PM
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 Campbell Commercial Real Estate
Investment Insights
Based on property information with market context.
This well-maintained, two-story professional office building is situated at a prominent corner location on W Centennial Blvd in Springfield, Oregon. The building has a size of 3,339 square feet and is currently configured as a dental office and laboratory. It features a functional layout that includes a reception area, private offices, multiple treatment/exam rooms, lab space, and support areas. The configuration is flexible and can support a range of professional, medical, or service-oriented uses. The property is located on an 11,326 square foot site and provides on-site parking and monument signage. It benefits from strong visibility at the signalized intersection of W Centennial Blvd and Aspen Street. Convenient access to Interstate 5 and Highway 126 provides excellent regional connectivity throughout the Eugene–Springfield market.
Key Highlights
- Prominent corner location on W Centennial Blvd with strong visibility at a signalized intersection.
- Functional 3,339 SF building currently configured as a dental office and laboratory.
- Flexible configuration supports a wide range of professional, medical, or service‑oriented uses.
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
$46,254
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
5.14%
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%
$925,080
$925.1K
Cap Rate 7%
$660,771
$660.8K
Cap Rate 9%
$513,933
$513.9K
Market Conditions
NOI Build-Up for 3,339 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
$74.1K $22.20/SF
− Vacancy
−$12.5K −$3.73/SF
EGI
$61.7K $18.47/SF
− OpEx
−$15.4K −$4.62/SF
NOI
$46.3K $13.85/SF
Area
Lane County, OR
Vacancy
16.80%
Lease Rate
$22.20 /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%
$925,080
Cap Rate 7%
$660,771
Cap Rate 9%
$513,933
Alternative Uses
Best Use
Office B
$660.8K
$578.2K – $770.9K
NOI $46,254 @ 7.0% cap · market cap 5.14%
Second Best
Healthcare Medical
$581.4K
$508.7K – $678.3K
NOI $40,695 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$844.7K
$739.1K – $985.5K
NOI $59,131 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97477, OR
37,602
Population
16,572
Households
2.3
Avg Household Size
39
Median Age
23%
College-Educated
89%
High-School Grad
12.4 sq mi
ZIP Area
3,032
Density / Sq Mi
$63,574
Median Household Income
$35,645
Median Earnings
$1,176
Median Rent
$345,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Cascade Animal Clinic — 901 W Centennial Blvd, Springfield, OR 97477
- Dr. Kelli Rosen — 901 W Centennial Blvd, Springfield, OR 97477
- Callahan Scott DVM — 671 W Centennial Blvd, Springfield, OR 97477
- Lahm Arthur DVM — 671 W Centennial Blvd, Springfield, OR 97477, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained office building suitable for medical or professional use.
Where is this medical office space located?
The property is located at 1290 W Centennial Blvd Springfield, OR.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Prominent corner location on W Centennial Blvd with strong visibility at a signalized intersection.; Functional 3,339 SF building currently configured as a dental office and laboratory.; Flexible configuration supports a wide range of professional, medical, or service‑oriented uses.
