Building Details

Year Built 1971

Buildings 1

Stories 1

Listing Agency: Evans, Elder Brown & Seubert

Listed By: Jeff Elder · License #OR Show Phone

Source: Crexi

Added: Mar 21, 2024 Changed: Sep 23 Last Checked: Oct 5 at 4:57PM

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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 Evans, Elder Brown & Seubert

Investment Insights

Based on property information with market context.

The property is an 8,201-square-foot building situated on a 34,413-square-foot site. Constructed in 1971, the building is zoned General Office (GO) and features a double drive-thru and 40 parking stalls. Pylon monument signage is present. The surrounding area includes residential housing, mainly college housing with single-family and multi-family apartments, along with a 7-Eleven, The Barber Shop, Vero Espresso, Toshi’s Ramen, Falling Sky Brewing, The Bier Stein, McMenamins High Street Brewery & Café, and Safeway. The University of Oregon campus and PeaceHealth Sacred Heart Medical Center are also nearby. The location has a Walk Score of 97, indicating it is a walker's paradise.

Key Highlights

• Double Drive‑Thru
• High Street Location with High Walk Score (97)
• 40 Parking Stalls

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$135,329

Cap Rate

4.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,706,580 $2.7M

Cap Rate 7%

$1,933,271 $1.9M

Cap Rate 9%

$1,503,656 $1.5M

Market Conditions

NOI Build-Up for 8,201 SF

Gross rent

$187.0K $22.80/SF

− Vacancy

−$6.5K −$0.80/SF

EGI

$180.4K $22.00/SF

− OpEx

−$45.1K −$5.50/SF

NOI

$135.3K $16.50/SF

Area

Eugene, OR

Vacancy

3.50%

Lease Rate

$22.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,706,580

Cap Rate 7%

$1,933,271

Cap Rate 9%

$1,503,656

Alternative Uses

Best Use

Specialty Retail

$1.93M

$1.69M – $2.26M (±1% cap)

NOI $135,329 @ 7.0% cap · market cap 4.23%

Second Best

Retail

$1.70M

$1.49M – $1.98M (±1% cap)

NOI $119,039 @ 7.0% cap · market cap 3.72%

Theoretical Best

Office A

$2.47M

$2.17M – $2.89M (±1% cap)

NOI $173,205 @ 7.0% cap · market cap 5.41%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Columbia bank Bank

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Pet Grooming Service Kitchen & Bath Showroom Storage Facility Mobile Phone Store

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

5,468

Businesses Nearby

208k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 40% Dining 32% Shops & Services 26% Apparel 2%

Safeway Groceries

45,725 visits/mo 0.3 miles

Whole Foods Market Groceries

37,129 visits/mo 0.4 miles

McDonald's Dining

29,905 visits/mo 0.4 miles

Chase Bank Shops & Services

9,867 visits/mo 0.3 miles

7-Eleven Shops & Services

8,853 visits/mo 0.4 miles

Demographics for 97401, OR

45,634

Population

24,220

Households

1.9

Avg Household Size

32

Median Age

47%

College-Educated

96%

High-School Grad

9.3 sq mi

ZIP Area

4,907

Density / Sq Mi

$51,244

Median Household Income

$26,604

Median Earnings

$1,318

Median Rent

$472,200

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?

Retail property - 8,201 SF building with double drive-thru on 34,413 SF lot.

Where is this retail property located?

The property is located at 1450 High St Eugene, OR.

What is the asking price?

The asking price for this property is $3,200,000.

What are key features of this property?

This property features: Double Drive‑Thru; High Street Location with **High Walk Score (97)**; 40 Parking Stalls