Craftsman Mixed-Use
For Sale
$539,000
1492 Pearl St, Eugene, OR 97401
C2 zoning supports commercial and live-work uses, with an upstairs renovated apartment and two lower-level commercial areas.
Property Size2,084 SF
Price / SF$258.64
Days on Market77
Property Features for 1492 Pearl St
General Information
Standard status
Active
Size
2,084 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
C2
Site & Location
Corner Location
Yes
Utilities to Site
Yes
Amenities
covered front porch
wood floors
skylights
walk in shower
washer/dryer
automatic sprinklers
Building Details
Year Built
1920
Buildings
1
Construction
craftsman
Tenancy
Multi
Listing Agency:
Windermere RE Lane County
Listed By:
Koalani Roberts
(541) 501-8319
Source:
Wyndeekono
Added: Jul 30
Changed: Oct 10
Last Checked: Oct 7 at 3:39PM
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.
Built in 1920, this 2,084-square-foot craftsman property combines an upper-level residence with commercial space below. The renovated 2-bedroom, 1-bath apartment includes a full kitchen, tile counters, newer appliances, in-unit washer and dryer, updated flooring, skylights, and a walk-in shower. Two commercial areas occupy the lower level, with wood floors, a kitchen, 1.5 baths, abundant windows, and a covered front porch. Both areas are currently leased to one salon tenant; the business is not included in the sale.
The corner-lot property is served by a bus line along Pearl St and sits near downtown Eugene, the University of Oregon, YMCA, South Amazon running trail, Midtown Luxury Condos, restaurants, businesses, homes, and apartments. Parking includes 3 off-street spaces plus on-street availability. Improvements include a newer roof, updated electrical service, 2 water heaters, automatic sprinklers, a newer sewer line, interior paint, newer appliances, and flooring. The property has 3 electric meters and 1 water meter, with tenants paying their own electricity.
The corner-lot property is served by a bus line along Pearl St and sits near downtown Eugene, the University of Oregon, YMCA, South Amazon running trail, Midtown Luxury Condos, restaurants, businesses, homes, and apartments. Parking includes 3 off-street spaces plus on-street availability. Improvements include a newer roof, updated electrical service, 2 water heaters, automatic sprinklers, a newer sewer line, interior paint, newer appliances, and flooring. The property has 3 electric meters and 1 water meter, with tenants paying their own electricity.
Key Highlights
- C2 zoning allows commercial uses and mixed live‑work opportunities
- 2,084 SF craftsman property built in 1920
- Upper‑level renovated 2 BR, 1 BA apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,885
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,700
$637.7K
Cap Rate 7%
$455,500
$455.5K
Cap Rate 9%
$354,278
$354.3K
Market Conditions
NOI Build-Up for 2,084 SF
Gross rent
$50.0K $24.00/SF
− Vacancy
−$7.5K −$3.60/SF
EGI
$42.5K $20.40/SF
− OpEx
−$10.6K −$5.10/SF
NOI
$31.9K $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 Rate 5%
$637,700
Cap Rate 7%
$455,500
Cap Rate 9%
$354,278
Alternative Uses
Best Use
Office B
$455.5K
$398.6K – $531.4K
NOI $31,885 @ 7.0% cap · market cap 5.92%
Second Best
Mixed Use
$442.1K
$386.8K – $515.8K
NOI $30,947 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$628.8K
$550.2K – $733.6K
NOI $44,014 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,798
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C2 zoning supports commercial and live-work uses, with an upstairs renovated apartment and two lower-level commercial areas.
Where is this mixed-use property located?
The property is located at 1492 Pearl St Eugene, OR.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: C2 zoning allows commercial uses and mixed live‑work opportunities; 2,084 SF craftsman property built in 1920; Upper‑level renovated 2 BR, 1 BA apartment
