Mixed-Use Property with Two
For Sale
$1,900,000
1856 37th St, Florence, OR 97439
Corner commercial site combines an apartment, retail space, laundromat, and deli/café uses.
Property Size6,048 SF
Lot Size0.51 Acres
Price / SF$314.15
Days on Market61
Property Features for 1856 37th St
General Information
Standard status
Active
Size
6,048 SF
Lot size
0.51 Acres
Additional Details
Corner Location
Yes
Building Details
Year Built
1938
Buildings
2
Tenancy
Multi
Listing Agency:
West Coast Real Estate Service
Listed By:
Jim Hoberg · License #880700052
(541) 997-7653
Source:
Evokepropertypartners
Added: Aug 7
Changed: Sep 7
Last Checked: Oct 4 at 3:10PM
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 West Coast Real Estate Service
Investment Insights
Based on property information with market context.
This mixed-use property includes two buildings on a 0.51-acre site comprising three tax lots. The older structure, built in 1938, has two levels with a 720-square-foot, one-bedroom, one-bath apartment upstairs and 2,128 square feet of retail space on the main floor, currently occupied by a thrift store.
Built in 1991, the second building is a single-level commercial structure totaling 3,200 square feet. Its layout includes 1,696 square feet used for a laundromat and 1,504 square feet occupied by a deli/café. The property is positioned at 1856 37th St. at the corner of Hwy 101 and 37th Street, with approximately 120 feet of Hwy 101 frontage.
Built in 1991, the second building is a single-level commercial structure totaling 3,200 square feet. Its layout includes 1,696 square feet used for a laundromat and 1,504 square feet occupied by a deli/café. The property is positioned at 1856 37th St. at the corner of Hwy 101 and 37th Street, with approximately 120 feet of Hwy 101 frontage.
Key Highlights
- 0.51‑acre mixed‑use property spanning three tax lots
- Approximately 120 feet of frontage on Hwy 101 at 37th Street
- 1938 two‑story building with a 720 sq ft apartment and 2,128 sq ft retail area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,084
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,741,680
$1.7M
Cap Rate 7%
$1,244,057
$1.2M
Cap Rate 9%
$967,600
$967.6K
Market Conditions
NOI Build-Up for 6,048 SF
Gross rent
$121.2K $20.04/SF
− Vacancy
−$5.1K −$0.84/SF
EGI
$116.1K $19.20/SF
− OpEx
−$29.0K −$4.80/SF
NOI
$87.1K $14.40/SF
Area
Lane County, OR
Vacancy
4.20%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,741,680
Cap Rate 7%
$1,244,057
Cap Rate 9%
$967,600
Alternative Uses
Best Use
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $87,084 @ 7.0% cap · market cap 4.58%
Second Best
Retail
$1.11M
$969.2K – $1.29M
NOI $77,538 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,105 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 38%
Bi-Mart
Shops & Services
12,134 visits/mo
0.3 miles
Burger King
Dining
6,897 visits/mo
0.2 miles
Les Schwab Tire Center
Shops & Services
2,576 visits/mo
0.3 miles
SUBWAY
Dining
2,385 visits/mo
0.3 miles
U-Haul
Shops & Services
607 visits/mo
0.3 miles
Demographics for 97439, OR
15,634
Population
9,056
Households
1.7
Avg Household Size
62
Median Age
27%
College-Educated
92%
High-School Grad
168.3 sq mi
ZIP Area
93
Density / Sq Mi
$58,576
Median Household Income
$36,146
Median Earnings
$1,164
Median Rent
$364,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner commercial site combines an apartment, retail space, laundromat, and deli/café uses.
Where is this mixed-use property located?
The property is located at 1856 37th St Florence, OR.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 0.51‑acre mixed‑use property spanning three tax lots; Approximately 120 feet of frontage on Hwy 101 at 37th Street; 1938 two‑story building with a 720 sq ft apartment and 2,128 sq ft retail area
