Building Details

Year Built 1911

Year Renovated 2021

Buildings 1

Construction craftsman-style

Listing Agency: Windermere RE Lane County

Listed By: Ashley Jorgenson Show Phone

Source: Wisser

Added: Jul 26 Changed: Oct 8 Last Checked: Oct 15 at 2:01AM

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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 Windermere RE Lane County

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Investment Insights

Based on property information with market context.

This 1911 craftsman-style office property is arranged across a main level and an upper floor. The primary level includes a lobby and reception area, two offices, a kitchen, and one-and-a-half bathrooms; the reception space can also function as an additional office. Two more private offices are located upstairs. The property is currently vacant and was most recently used for office and massage therapy operations.

Bathroom, kitchen, and flooring improvements were completed in 2021. Vinyl plank flooring covers original hardwood floors, and the sale includes all appliances. The roof was replaced in 2015. Zoned C-2 and offered as-is, the building is located at 245 W 13th Ave in Eugene.

Key Highlights

• Two‑level 1911 craftsman‑style office building at 245 W 13th Ave
• Main level includes lobby, reception, two offices, kitchen, and 1 1/2 bathrooms
• Two additional private offices are located upstairs

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,455

Cap Rate

5.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$469,100 $469.1K

Cap Rate 7%

$335,071 $335.1K

Cap Rate 9%

$260,611 $260.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,533 SF

Gross rent

$36.8K $24.00/SF

− Vacancy

−$5.5K −$3.60/SF

EGI

$31.3K $20.40/SF

− OpEx

−$7.8K −$5.10/SF

NOI

$23.5K $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%

$469,100

Cap Rate 7%

$335,071

Cap Rate 9%

$260,611

Alternative Uses

Best Use

Office B

$335.1K

$293.2K – $390.9K (±1% cap)

NOI $23,455 @ 7.0% cap · market cap 5.52%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$462.5K

$404.7K – $539.6K (±1% cap)

NOI $32,377 @ 7.0% cap · market cap 7.62%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Brandt R. Stuart, ... Counselor Marc P Friedman ... Law Firm Stuart Bonnie w ... Family Counselor Stuart & Stuart Family Counselor Access the Law Social Service Agency

Suggested Use

Top Pick HVAC Service Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store Pet Grooming Service Tanning Salon Mobile Phone 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.

Location Intelligence

Trade Area within ½ mile

4,910

Businesses Nearby

Explore this area 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

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office units - Vacant two-level property with reception, four private offices, kitchen, and one-and-a-half bathrooms.

Where is this office units located?

The property is located at 245 W 13th Ave Eugene, OR.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: Two‑level 1911 craftsman‑style office building at 245 W 13th Ave; Main level includes lobby, reception, two offices, kitchen, and 1 1/2 bathrooms; Two additional private offices are located upstairs