Mixed-Use Property with Live-Work
New
For Sale
$11,639,000
265 W 8TH Ave, Eugene, OR 97401
MultiFamily, Eugene, OR
Property Size94,861 SF
Lot Size0.83 Acres
Price / SF$122.70
Days on Market3
Property Features for 265 W 8TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2
View
City
Elementary school
River Road
Middle school
Kelly
High school
North Eugene
Directions
8th St to address
Subdivision
_245
Standard status
Active
APN
0260289
Size
94,861 SF
Lot size
0.83 Acres
Taxes and HOA fees
Tax Description
To be provided by escrow.
Tax Annual Amount
6091
Legal Description
To be provided by escrow.
Building Details
Year built
2008
Floors in Building
6
Number of units
111
Roof type
Flat
Listing Agency:
Windermere RE Lane County · Windermere Real Estate
(541) 484-2022
Listed By:
Kristena Cox
(541) 501-3399
Added: Oct 1
Changed: Oct 2
Last Checked: Oct 3 at 2:06AM
MLS# 515399097
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 with 111 units and 94,861 square feet on 0.83 acres. The unit mix includes studios, one-bedroom and two-bedroom apartments, plus nine live-work units. Built in 2008, the property has received recent updates to its siding, HVAC systems and elevators.
The property was developed using Section 42 LIHTC tax credits and carries affordability restrictions through 2083. Its zoning is C-2.
The property was developed using Section 42 LIHTC tax credits and carries affordability restrictions through 2083. Its zoning is C-2.
Key Highlights
- 111 units across two buildings totaling 94,861 square feet
- Unit mix includes studios, one‑bedroom and two‑bedroom apartments, plus nine live‑work units
- Built in 2008 on 0.83 acres
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
$742,284
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
6.38%
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%
$14,845,680
$14.8M
Cap Rate 7%
$10,604,057
$10.6M
Cap Rate 9%
$8,247,600
$8.2M
Market Conditions
NOI Build-Up for 94,861 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
$1.37M $14.40/SF
− Vacancy
−$16.4K −$0.17/SF
EGI
$1.35M $14.23/SF
− OpEx
−$607.3K −$6.40/SF
NOI
$742.3K $7.82/SF
Area
Eugene, OR
Vacancy
1.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$14,845,680
Cap Rate 7%
$10,604,057
Cap Rate 9%
$8,247,600
Alternative Uses
Best Use
Office B
$20.73M
$18.14M – $24.19M
NOI $1,451,373 @ 7.0% cap · market cap 12.47%
Second Best
Mixed Use
$20.12M
$17.61M – $23.48M
NOI $1,408,686 @ 7.0% cap · market cap 12.10%
Theoretical Best
Office A
$28.62M
$25.04M – $33.39M
NOI $2,003,464 @ 7.0% cap · market cap 17.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
111
Residential units
Location Intelligence
Trade Area within ½ mile
5,064
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine apartments with dedicated live-work residences and recent building-system upgrades.
Where is this mixed-use property located?
The property is located at 265 W 8TH Ave Eugene, OR.
What is the asking price?
The asking price for this property is $11,639,000.
What are key features of this property?
This property features: 111 units across two buildings totaling 94,861 square feet; Unit mix includes studios, one‑bedroom and two‑bedroom apartments, plus nine live‑work units; Built in 2008 on 0.83 acres
