Building Details

Year built 1938

Floors in Building 2

Building materials LapSiding, T111Siding

Roof type Composition

Listing Agency: West Coast Real Estate Service j**@jimhoberg.com Show Phone

Listed By: Jim Hoberg · License #880700052 Show Phone

Added: Jan 15 Changed: Jun 11 Last Checked: Oct 10 at 11:06AM

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MLS# 639008570

Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This mixed-use property comprises two buildings totaling 6,048 square feet across 0.51 acres and three tax lots. The older structure, built in 1938, has two levels with a 720-square-foot one-bedroom, one-bath apartment above a 2,128-square-foot main floor currently used as a thrift store. A second building, completed in 1991, provides 3,200 square feet on one level, including a 1,696-square-foot laundromat and a 1,504-square-foot deli/cafe.

The property occupies the corner of Hwy 101 and 37th Street, with approximately 120 feet of Hwy 101 frontage. Zoning is H. Existing improvements include lap siding, T1-11 siding, and composition roofing.

Key Highlights

• 0.51‑acre mixed‑use property spanning three tax lots
• Two buildings totaling 6,048 square feet
• Approximately 120 feet of Hwy 101 frontage at Hwy 101 and 37th Street

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 (±1% cap)

NOI $87,084 @ 7.0% cap · market cap 4.58%

Second Best

Retail

$1.11M

$969.2K – $1.29M (±1% cap)

NOI $77,538 @ 7.0% cap · market cap 4.08%

Theoretical Best

Office A

$1.53M

$1.34M – $1.79M (±1% cap)

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

Storefront properties

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage HVAC Service Electrical Service Kitchen & Bath Showroom Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

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

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Corner commercial asset combines residential space with multiple operating business components.

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; Two buildings totaling 6,048 square feet; Approximately 120 feet of Hwy 101 frontage at Hwy 101 and 37th Street