Three-Story Office/Retail
300 Ellsworth St. SW Albany, OR 97321
300 Ellsworth St. SW, Albany, OR, 97321
Contact for pricing
For Sale
Contact for pricing
WaFd Bank will lease back its ground-floor space at closing, while the remainder offers shell-ready redevelopment in HD zoning.
Property Size19,497 SF
Price / SF$179.46
Days on Market90
Property Features for 300 Ellsworth St. SW
General Information
- Standard status
- Active
- Size
- 19,497 SF
- Property subtype
- Office, Mixed Use
Building Details
- Year Built
- 1978
Listing agency
C.W. Walker & Associates, Inc.
(541) 484-4422
Listed by
Isaac Grant, CCIM · License #OR-201256253
Source
Crexi
Added: Apr 25 Updated: Jul 22 at 10:42PM Checked: Jul 22 at 10:42PM
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 C.W. Walker & Associates, Inc.
Investment Insights
Based on property information with market context.
300 Ellsworth St. SW in Albany, Oregon is a three-story building with a mix of leased and vacant space on a 0.32-acre parcel. Approximately 4,500 square feet of the ground floor is occupied by WaFd Bank, and the tenant will execute a leaseback for its space at closing, creating stabilized income from day one. The balance of the building includes additional vacant ground-floor area (approximately 1,928 square feet) and the entire second floor, which are currently in shell condition.
The building features exposed brick, and the property is described as allowing flexibility for redevelopment under the HD zoning. This existing configuration provides a foundation for design and delivery of space tailored to market demand, including possibilities such as professional office, boutique retail, and service-oriented businesses.
With built-in tenancy anchoring the property and substantial shell space available for build-out, the asset is positioned for an investor, developer, or owner-user seeking to reposition and lease the remaining areas.
The building features exposed brick, and the property is described as allowing flexibility for redevelopment under the HD zoning. This existing configuration provides a foundation for design and delivery of space tailored to market demand, including possibilities such as professional office, boutique retail, and service-oriented businesses.
With built-in tenancy anchoring the property and substantial shell space available for build-out, the asset is positioned for an investor, developer, or owner-user seeking to reposition and lease the remaining areas.
Key Highlights
- 3‑story building on a 0.32‑acre parcel built in 1978 in downtown Albany, Oregon
- Approximately 4,500 SF ground floor occupied by WaFd Bank, with leaseback at closing for immediate stabilized income
- Remaining vacant areas include about 1,928 SF of ground floor in shell condition
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $629.4k | $32.28 |
| − Vacancy | −$201.4k | −$10.33 |
| EGI | $428.0k | $21.95 |
| − OpEx | −$107.0k | −$5.49 |
| NOI | $321.0k | $16.46 |
19,497 SF · lease $32.28/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$5.09M
$4.45M – $5.94M
NOI $356,140 @ 7.0% cap · market cap 10.18%
Second Best
Specialty Retail
$4.59M
$4.01M – $5.35M
NOI $320,975 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$5.68M
$4.97M – $6.63M
NOI $397,589 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Calapooia Employee Assistance
Family Counselor
WaFd Bank
Bank
Network Insurance Agents
Insurance Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - WaFd Bank will lease back its ground-floor space at closing, while the remainder offers shell-ready redevelopment in HD zoning.
Where is this office building located?
The property is located at 300 Ellsworth St. SW Albany, OR.
What is the asking price?
The asking price for this property is $3,499,000.
What are key features of this property?
This property features: 3‑story building on a 0.32‑acre parcel built in 1978 in downtown Albany, Oregon; Approximately 4,500 SF ground floor occupied by WaFd Bank, with leaseback at closing for immediate stabilized income; Remaining vacant areas include about 1,928 SF of ground floor in shell condition
