Building Details

Year built 1900

Floors in Building 2

Listing Agency: John L. Scott l***@johnlscott.com Show Phone

Listed By: Blake Byzewski · License #201201040 Show Phone

Added: Nov 5 Last Checked: Nov 6 at 11:06AM

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MLS# 128426028

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.

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Investment Insights

Based on property information with market context.

This 1,472-square-foot mixed-use property includes an attached shop and flexible interior areas. Built in 1900, the building previously served as City Hall and is heated by a forced-air system. The parcel measures 0.48 acres and carries CR zoning.

The property is located in Falls City with river frontage. A park is also nearby.

Key Highlights

• 1,472‑square‑foot building on a 0.48‑acre parcel
• Attached shop and flexible interior areas
• CR zoning and river frontage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,269

Cap Rate

6.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$405,380 $405.4K

Cap Rate 7%

$289,557 $289.6K

Cap Rate 9%

$225,211 $225.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,472 SF

Gross rent

$31.8K $21.60/SF

− Vacancy

−$4.8K −$3.24/SF

EGI

$27.0K $18.36/SF

− OpEx

−$6.8K −$4.59/SF

NOI

$20.3K $13.77/SF

Area

Polk County, OR

Vacancy

15.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$405,380

Cap Rate 7%

$289,557

Cap Rate 9%

$225,211

Alternative Uses

Best Use

Office B

$289.6K

$253.4K – $337.8K (±1% cap)

NOI $20,269 @ 7.0% cap · market cap 6.78%

Second Best

Mixed Use

$229.6K

$200.9K – $267.9K (±1% cap)

NOI $16,074 @ 7.0% cap · market cap 5.38%

Theoretical Best

Office A

$390.8K

$342.0K – $456.0K (±1% cap)

NOI $27,358 @ 7.0% cap · market cap 9.15%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Blink Charging Station Electric Vehicle Charging Station Falls City, City ... City Hall

Suggested Use

Top Pick Grocery & Convenience Store Garden Center Furniture & Home Goods Accounting Firm Auto Repair Shop Restaurant

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

56

Businesses Nearby

Explore this area Business Placement

Demographics for 97344, OR

1,189

Population

518

Households

2.3

Avg Household Size

45

Median Age

18%

College-Educated

83%

High-School Grad

11.5 sq mi

ZIP Area

103

Density / Sq Mi

$54,018

Median Household Income

$28,478

Median Earnings

$1,073

Median Rent

$295,500

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

Frequently Asked Questions

What type of property is this?

Mixed-use property - CR-zoned and riverfront, the property includes forced-air heating.

Where is this mixed-use property located?

The property is located at 299 MILL St Falls City, OR.

What is the asking price?

The asking price for this property is $299,000.

What are key features of this property?

This property features: 1,472‑square‑foot building on a 0.48‑acre parcel; Attached shop and flexible interior areas; CR zoning and river frontage