Midtown Office Building For
1598 Pearl St, Eugene, OR 97401
For Sale
Contact for pricing
Two-story office building near downtown and the University of Oregon.
Property Size1,028 SF
Price / SF$340.47
Days on Market244
Property Features for 1598 Pearl St
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Building Details
Year Built
Units
Listing Agency:
Evans, Elder Brown & Seubert
Listed By:
Jeff Elder
(541) 953-2402
Source:
Crexi
Added: Mar 12
Changed: Oct 28
Last Checked: Nov 8 at 6:54AM
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
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Investment Insights
Based on property information with market context.
This two-story office building, originally constructed in 1935 and updated in 1995 and 2014, contains approximately 1,028 square feet according to the Lane County Assessor. It is located on the corner of Pearl Street and 16th Avenue, near eateries and attractions such as Mucho Gusto, Toshi’s Ramen, Newman’s Fish Company, Whole Foods, Safeway, Kidsports, and South Eugene High School. The building is conveniently located between Downtown and South Eugene and near the University of Oregon campus. The building is also adjacent to The Midtown, a newly constructed luxury condominium building that features underground on-site parking and multiple condo sizes from studios to town-homes. The building features four offices split between the first and second floor. The first floor features a reception area, two offices (one with a private entrance), and two restrooms including one shower. The second floor features two offices with natural light and storage cabinets. The property is located in Zone X, an area determined to be outside the 500-year flood. There is an underground sump pump located below the building. The property is zoned C-2, Community Commercial, allowing for a variety of uses.
Key Highlights
- Prime location on a high‑traffic corner near popular amenities.
- Convenient access to Downtown, South Eugene, and the University of Oregon.
- C‑2 Community Commercial zoning allows for a variety of business uses.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,728
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,560
$314.6K
Cap Rate 7%
$224,686
$224.7K
Cap Rate 9%
$174,756
$174.8K
Market Conditions
NOI Build-Up for 1,028 SF
Gross rent
$24.7K $24.00/SF
− Vacancy
−$3.7K −$3.60/SF
EGI
$21.0K $20.40/SF
− OpEx
−$5.2K −$5.10/SF
NOI
$15.7K $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%
$314,560
Cap Rate 7%
$224,686
Cap Rate 9%
$174,756
Alternative Uses
Best Use
Office B
$224.7K
$196.6K – $262.1K
NOI $15,728 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.2K
$271.4K – $361.9K
NOI $21,711 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
4,798
Businesses Nearby
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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
Properties on Market for Office buildings in Eugene
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Two-story office building near downtown and the University of Oregon.
Where is this office building located?
The property is located at 1598 Pearl St Eugene, OR.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Prime location on a high‑traffic corner near popular amenities.; Convenient access to Downtown, South Eugene, and the University of Oregon.; C‑2 Community Commercial zoning allows for a variety of business uses.
