1350 Pacific Blvd. SE, Albany, OR 97321

Building Details

Year Built 1945 More

Stories 1 More

Listing Agency: C.W. Walker & Associates, Inc.

Listed By: Isaac Grant, CCIM · License OR #201256253 Show Phone

Source: Crexi

Added: Jul 31 Changed: Nov 4 Last Checked: Nov 10 at 6:28AM

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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 C.W. Walker & Associates, Inc.

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Investment Insights

Based on property information with market context.

This freestanding storefront property includes a 3,296-square-foot commercial building on a 0.52-acre parcel. Constructed in 1945, the building is currently vacant and was most recently occupied by Miller Paint Company. Its functional layout, parking area, and additional outdoor space support retail, service, showroom, and trade-related operations, subject to applicable requirements.

The property is located at 1350 Pacific Blvd. SE in Albany, Oregon, with frontage along Pacific Boulevard. Community Commercial zoning provides the recorded land-use designation. The site offers room for customer parking, outdoor display, equipment or inventory storage, and potential future improvements, subject to approval.

Key Highlights

• 3,296‑square‑foot freestanding commercial building
• 0.52‑acre site with Pacific Boulevard frontage
• Community Commercial zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,644

Cap Rate

7.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,012,880 $1.0M

Cap Rate 7%

$723,486 $723.5K

Cap Rate 9%

$562,711 $562.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,296 SF

Gross rent

$106.4K $32.28/SF

− Vacancy

−$34.0K −$10.33/SF

EGI

$72.3K $21.95/SF

− OpEx

−$21.7K −$6.59/SF

NOI

$50.6K $15.37/SF

Area

Linn County, OR

Vacancy

32.00%

Lease Rate

$32.28 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,012,880

Cap Rate 7%

$723,486

Cap Rate 9%

$562,711

Alternative Uses

Best Use

Retail

$723.5K

$633.1K – $844.1K (±1% cap)

NOI $50,644 @ 7.0% cap · market cap 7.29%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$960.2K

$840.2K – $1.12M (±1% cap)

NOI $67,213 @ 7.0% cap · market cap 9.67%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

La china food ... Restaurant Miller Paint Hardware & Home Improvement

Suggested Use

Top Pick Big Box & Wholesale Store Electrical Service HVAC Service Kitchen & Bath Showroom Storage Facility Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,183

Businesses Nearby

328k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 61% Shops & Services 19% Home Improvements & Furnishings 10% Apparel 5%

Wendy's Dining

25,447 visits/mo 0.1 miles

Lowe's Home Improvements & Furnishings

24,472 visits/mo 0.1 miles

Red Robin Gourmet Burgers Dining

22,797 visits/mo 0.4 miles

Dutch Bros. Coffee Dining

19,722 visits/mo 0.1 miles

Panda Express Dining

18,425 visits/mo 0.3 miles

Demographics for 97321, OR

30,291

Population

11,790

Households

2.6

Avg Household Size

41

Median Age

38%

College-Educated

96%

High-School Grad

69.1 sq mi

ZIP Area

438

Density / Sq Mi

$95,687

Median Household Income

$45,963

Median Earnings

$1,264

Median Rent

$442,400

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Vacant commercial facility with Community Commercial zoning, practical interior layout, parking, and outdoor space along Pacific Boulevard.

Where is this storefront property located?

The property is located at 1350 Pacific Blvd. SE Albany, OR.

What is the asking price?

The asking price for this property is $695,000.

What are key features of this property?

This property features: 3,296‑square‑foot freestanding commercial building; 0.52‑acre site with Pacific Boulevard frontage; Community Commercial zoning