Craftsman-Style Office
For Sale
$425,000
245 W 13th Ave, Eugene, OR 97401
Vacant two-level property with reception, four private offices, kitchen, and one-and-a-half bathrooms.
Property Size1,533 SF
Price / SF$277.23
Days on Market37
Property Features for 245 W 13th Ave
General Information
Standard status
Active
Size
1,533 SF
Building Details
Year Built
1911
Year Renovated
2021
Buildings
1
Construction
craftsman-style
Listing Agency:
Windermere RE Lane County
(541) 513-7611
Listed By:
Ashley Jorgenson
Source:
Veraanneinternational
Added: Jul 26
Changed: Aug 29
Last Checked: Aug 30 at 8:21PM
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
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.
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 = 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
$23,455
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
5.52%
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%
$469,100
$469.1K
Cap Rate 7%
$335,071
$335.1K
Cap Rate 9%
$260,611
$260.6K
Market Conditions
NOI Build-Up for 1,533 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
$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 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%
$469,100
Cap Rate 7%
$335,071
Cap Rate 9%
$260,611
Alternative Uses
Best Use
Office B
$335.1K
$293.2K – $390.9K
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
NOI $32,377 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
