Live-Work Space with Four
15 NE 7th Street Madras, OR 97741
15 NE 7th Street, Madras, OR, 97741
$235,000
For Sale
$235,000
Property is set up with four offices and a reception area, plus ample off-street parking.
Property Size1,000 SF
Price / SF$235
Days on Market103
Property Features for 15 NE 7th Street
General Information
- Standard status
- Active
- Size
- 1,000 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1978
Listing agency
eXp Realty, LLC
(541) 420-9000
Listed by
Mike Ahern · License #200202246
(541) 420-9000
Source
Xome
Added: Apr 11 Updated: Jul 21 at 7:12PM Checked: Jul 21 at 7:12PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This live-work space offers a practical office layout with four offices and a reception area. The zoning allows both living and commercial use, providing flexibility for a combined work address and residence after remodeling.
Located at 15 NE 7th Street in Madras, Oregon, the property is described as being on a busy B Street with strong visibility. Ample off-street parking supports convenient access for clients and visitors.
Ideal for buyers looking for a mixed-use configuration that can be adapted through remodeling while retaining the existing office-ready interior layout.
Located at 15 NE 7th Street in Madras, Oregon, the property is described as being on a busy B Street with strong visibility. Ample off-street parking supports convenient access for clients and visitors.
Ideal for buyers looking for a mixed-use configuration that can be adapted through remodeling while retaining the existing office-ready interior layout.
Key Highlights
- Set up with four offices and a reception area
- Zoning allows both living and commercial use
- Corner lot on a paved road with ground level unit
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.4k | $20.40 |
| − Vacancy | −$1.3k | −$1.25 |
| EGI | $19.1k | $19.15 |
| − OpEx | −$4.8k | −$4.79 |
| NOI | $14.4k | $14.36 |
1,000 SF · lease $20.40/SF/yr · vacancy 6.14% · expense 25.00%
Alternative Uses
Best Use
Office B
$205.2K
$179.5K – $239.4K
NOI $14,361 @ 7.0% cap · market cap 6.11%
Second Best
Mixed Use
$201.4K
$176.3K – $235.0K
NOI $14,100 @ 7.0% cap · market cap 6.00%
Theoretical Best
Specialty Retail
$432.0K
$378.0K – $504.0K
NOI $30,240 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Live-work space
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Property is set up with four offices and a reception area, plus ample off-street parking.
Where is this live-work space located?
The property is located at 15 NE 7th Street Madras, OR.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Set up with four offices and a reception area; Zoning allows both living and commercial use; Corner lot on a paved road with ground level unit
