Mixed-Use Building with
New
For Sale
$455,000
227 2ND Ave SW, Albany, OR 97321
CommercialSale, Albany, OR
Property Size2,596 SF
Lot Size0.05 Acres
Price / SF$175.27
Days on Market4
Property Features for 227 2ND Ave SW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HD
View
City
Directions
Broadalbin
Subdivision
_221
Standard status
Active
APN
0081154
Size
2,596 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
11S03W06CC
Tax Annual Amount
2834
Legal Description
11S03W06CC
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1890
Floors in Building
2
Building materials
Brick
Roof type
Membrane
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Tracy Bertalotto · License #201224367
(541) 401-1475
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 14 at 1:06AM
MLS# 416312098
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 2,596-square-foot mixed-use building combines a street-facing commercial area with a separately accessed apartment. The retail portion includes display windows, an open showroom, private office and conference space, kitchen, restroom, and an upper-level office with balcony. The residential component provides a two-story living room, dining area, kitchen, laundry room, two bedrooms, two full bathrooms, and a bonus room described as suitable for use as a third bedroom.
Built in 1890, the brick property occupies 0.05 acres and is designated HD. Building improvements include a membrane roof, natural-gas forced-air heating, and solar tubes installed with a new roof in 2022. Permitted uses are subject to verification with the City.
Built in 1890, the brick property occupies 0.05 acres and is designated HD. Building improvements include a membrane roof, natural-gas forced-air heating, and solar tubes installed with a new roof in 2022. Permitted uses are subject to verification with the City.
Key Highlights
- 2,596‑square‑foot mixed‑use building on 0.05 acres
- Street‑facing retail area with display windows and open showroom
- Separately accessed apartment with 2 bedrooms and 2 full baths
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
$39,888
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
8.77%
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%
$797,760
$797.8K
Cap Rate 7%
$569,829
$569.8K
Cap Rate 9%
$443,200
$443.2K
Market Conditions
NOI Build-Up for 2,596 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
$83.8K $32.28/SF
− Vacancy
−$26.8K −$10.33/SF
EGI
$57.0K $21.95/SF
− OpEx
−$17.1K −$6.59/SF
NOI
$39.9K $15.37/SF
Area
Linn County, OR
Vacancy
32.00%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
30.00%
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%
$797,760
Cap Rate 7%
$569,829
Cap Rate 9%
$443,200
Alternative Uses
Best Use
Retail
$569.8K
$498.6K – $664.8K
NOI $39,888 @ 7.0% cap · market cap 8.77%
Second Best
Mixed Use
$438.1K
$383.3K – $511.1K
NOI $30,665 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$756.3K
$661.7K – $882.3K
NOI $52,938 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,527
Businesses Nearby
15k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Dining 7%
Chase Bank
Shops & Services
5,924 visits/mo
0.1 miles
KeyBank
Shops & Services
3,538 visits/mo
0.1 miles
Umpqua Bank
Shops & Services
2,864 visits/mo
0.1 miles
Enterprise Rent-A-Car
Shops & Services
1,226 visits/mo
0.1 miles
Big Town Hero
Dining
997 visits/mo
0.1 miles
Demographics for 97321, OR
30,291
Population
11,790
Households
2.6
Avg Household Size
41
Median Age
38%
College-Educated
96%
High-School Grad
69.1 sq mi
ZIP Area
438
Density / Sq Mi
$95,687
Median Household Income
$45,963
Median Earnings
$1,264
Median Rent
$442,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown commercial property combines street-level retail with a separately accessed residential unit and office space.
Where is this mixed-use property located?
The property is located at 227 2ND Ave SW Albany, OR.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: 2,596‑square‑foot mixed‑use building on 0.05 acres; Street‑facing retail area with display windows and open showroom; Separately accessed apartment with 2 bedrooms and 2 full baths
