Triplex with
For Sale
$594,900
300 Northwest Santiam Boulevard, Mill City, OR 97360
Mixed-use property combines three residential units with an on-site public laundromat and customer parking.
Property Size3,068 SF
Price / SF$193.90
Days on Market90
Property Features for 300 Northwest Santiam Boulevard
General Information
Standard status
Active
Size
3,068 SF
Property subtype
Residential Income / Triplex
Zoning
CH
Taxes and HOA fees
Annual Taxes
$5,840
Amenities
No
Carpet, Vinyl
Dishwasher, Electric Range, Refrigerator, Microwave, Disposal, Electric Water Heater
Electric
3
Common Area
High Speed Internet
Yes
Covered, Deck
Building Details
Year Built
1983
Listing Agency:
STELLAR REALTY NORTHWEST
(541) 508-9371
Listed By:
KATY ROSECRANS · License #200402282
(541) 508-9371
Source:
Compass
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 6:27PM
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 STELLAR REALTY NORTHWEST
Investment Insights
Based on property information with market context.
This 3,068-square-foot triplex property combines three residential units with a public laundromat in a former restaurant building. The residential portion was renovated in recent years, and the property was built in 1983. Interior features include carpet and vinyl flooring, a dishwasher, electric range, refrigerator, microwave, disposal, electric water heater, and high-speed internet. Covered exterior areas and a deck are also included.
Located at 300 Northwest Santiam Boulevard in Mill City, Oregon, the property is zoned CH. Ample parking serves both tenants and laundromat customers, while two EV chargers are installed on site. The combination of residential units and an operating public-use business creates a distinct mixed-use configuration.
Located at 300 Northwest Santiam Boulevard in Mill City, Oregon, the property is zoned CH. Ample parking serves both tenants and laundromat customers, while two EV chargers are installed on site. The combination of residential units and an operating public-use business creates a distinct mixed-use configuration.
Key Highlights
- Three residential units plus a public laundromat
- 3,068 SF property on a 0.29‑acre site
- Residential portion renovated in recent years
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
$47,141
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
7.92%
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%
$942,820
$942.8K
Cap Rate 7%
$673,443
$673.4K
Cap Rate 9%
$523,789
$523.8K
Market Conditions
NOI Build-Up for 3,068 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
$99.0K $32.28/SF
− Vacancy
−$31.7K −$10.33/SF
EGI
$67.3K $21.95/SF
− OpEx
−$20.2K −$6.59/SF
NOI
$47.1K $15.37/SF
Area
Linn County, OR
Vacancy
32.00%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
30.00%
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%
$942,820
Cap Rate 7%
$673,443
Cap Rate 9%
$523,789
Alternative Uses
Best Use
Retail
$673.4K
$589.3K – $785.7K
NOI $47,141 @ 7.0% cap · market cap 7.92%
Second Best
Multifamily LT 5
$413.7K
$362.0K – $482.7K
NOI $28,961 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$893.8K
$782.1K – $1.04M
NOI $62,564 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 97360, OR
2,362
Population
964
Households
2.5
Avg Household Size
41
Median Age
11%
College-Educated
88%
High-School Grad
13.5 sq mi
ZIP Area
175
Density / Sq Mi
$68,912
Median Household Income
$38,846
Median Earnings
$1,168
Median Rent
$281,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Mixed-use property combines three residential units with an on-site public laundromat and customer parking.
Where is this triplex located?
The property is located at 300 Northwest Santiam Boulevard Mill City, OR.
What is the asking price?
The asking price for this property is $594,900.
What are key features of this property?
This property features: Three residential units plus a public laundromat; 3,068 SF property on a 0.29‑acre site; Residential portion renovated in recent years
