Mixed-Use Building with
For Sale
$375,000
1666 Main St, Springfield, OR 97477
Main Street property pairs retail space with an attached one-bedroom, one-bath residential unit.
Property Size1,050 SF
Days on Market31
Property Features for 1666 Main St
General Information
Standard status
Active
Size
1,050 SF
Property subtype
Commercial
Zoning
CC
Taxes and HOA fees
Annual Taxes
$1,532
Building Details
Building Size
1,050 SF
Year Built
1930
Listing Agency:
InEugene Real Estate, LLC
(541) 653-8139
Listed By:
Maria Lomelli
(541) 653-8139
Source:
Allprofessionalsre
Added: Jul 21
Changed: Aug 19
Last Checked: Aug 19 at 5:01AM
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 InEugene Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 1930, this mixed-use property includes an approximately 1,050-square-foot commercial building and an attached one-bedroom, one-bath apartment. The commercial component is suited to retail use, while the residential unit supports live-work occupancy or additional income potential. Recent improvements include roof and electrical updates. The property will be vacant at closing and is offered in its existing condition.
Located at 1666 Main St in Springfield, the property provides access to downtown Springfield, Eugene, and major transportation routes. CC zoning applies, and buyers are responsible for confirming permitted uses with the City of Springfield.
Located at 1666 Main St in Springfield, the property provides access to downtown Springfield, Eugene, and major transportation routes. CC zoning applies, and buyers are responsible for confirming permitted uses with the City of Springfield.
Key Highlights
- Approximately 1,050 SF commercial building with attached 1/BD/1BA apartment
- CC zoning
- Built in 1930
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,545
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$290,900
$290.9K
Cap Rate 7%
$207,786
$207.8K
Cap Rate 9%
$161,611
$161.6K
Market Conditions
NOI Build-Up for 1,050 SF
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.
Gross rent
$23.3K $22.20/SF
− Vacancy
−$3.9K −$3.73/SF
EGI
$19.4K $18.47/SF
− OpEx
−$4.8K −$4.62/SF
NOI
$14.5K $13.85/SF
Area
Lane County, OR
Vacancy
16.80%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$290,900
Cap Rate 7%
$207,786
Cap Rate 9%
$161,611
Alternative Uses
Best Use
Office B
$207.8K
$181.8K – $242.4K
NOI $14,545 @ 7.0% cap · market cap 3.88%
Second Best
Retail
$192.3K
$168.3K – $224.4K
NOI $13,462 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$265.6K
$232.4K – $309.9K
NOI $18,595 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 97477, OR
37,602
Population
16,572
Households
2.3
Avg Household Size
39
Median Age
23%
College-Educated
89%
High-School Grad
12.4 sq mi
ZIP Area
3,032
Density / Sq Mi
$63,574
Median Household Income
$35,645
Median Earnings
$1,176
Median Rent
$345,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Main Street property pairs retail space with an attached one-bedroom, one-bath residential unit.
Where is this mixed-use property located?
The property is located at 1666 Main St Springfield, OR.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Approximately 1,050 SF commercial building with attached 1/BD/1BA apartment; CC zoning; Built in 1930
