Eugene Investment Property For
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304 E 13th Ave, Eugene, OR 97401
Residential and retail investment property near the University of Oregon.
Property Size6,130 SF
Lot Size0.07 Acres
Price / SF$203.92
Days on Market667
Property Features for 304 E 13th Ave
General Information
Standard status
Active
Size
6,130 SF
Lot size
0.07 Acres
Property subtype
Multifamily
Zoning
C-2 | Community Commercial
Building Details
Buildings
2
Stories
2
Units
10
Listing Agency:
Evans, Elder Brown & Seubert
(541) 345-4860
Listed By:
Jeff Elder · License #OR
Source:
Crexi
Added: Oct 23, 2024
Changed: Aug 19
Last Checked: Aug 19 at 7:32PM
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 Evans, Elder Brown & Seubert
Investment Insights
Based on property information with market context.
This investment property is located at the corner of E 13th Ave and High Street, within walking distance of the University of Oregon and downtown Eugene. The property is zoned C-2, Community Commercial. 304 East 13th Ave features two one-bedroom apartment units and one three-bedroom apartment unit, totaling 2,050 finished square feet on a 3,039 square foot site. 320 East 13th Ave and 1315 High St include six one-bedroom apartment units and a 1,200 square foot corner retail storefront. This portion of the property has 4,080 finished square feet on a 2,178 square foot site. The total property size is 6,130 square feet.
Key Highlights
- Visible corner location near the University of Oregon and downtown Eugene.
- Investment property with residential (apartment units) and retail (storefront) income potential.
- Zoned C‑2 | Community Commercial, allowing for a variety of uses.
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
$88,978
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
7.12%
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%
$1,779,560
$1.8M
Cap Rate 7%
$1,271,114
$1.3M
Cap Rate 9%
$988,644
$988.6K
Market Conditions
NOI Build-Up for 6,130 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
$132.4K $21.60/SF
− Vacancy
−$5.3K −$0.86/SF
EGI
$127.1K $20.74/SF
− OpEx
−$38.1K −$6.22/SF
NOI
$89.0K $14.52/SF
Area
Eugene, OR
Vacancy
4.00%
Lease Rate
$21.60 /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%
$1,779,560
Cap Rate 7%
$1,271,114
Cap Rate 9%
$988,644
Alternative Uses
Best Use
Retail
$1.27M
$1.11M – $1.48M
NOI $88,978 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$685.2K
$599.6K – $799.5K
NOI $47,967 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,466 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,468
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Residential and retail investment property near the University of Oregon.
Where is this apartment building located?
The property is located at 304 E 13th Ave Eugene, OR.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Visible corner location near the University of Oregon and downtown Eugene.; Investment property with residential (apartment units) and retail (storefront) income potential.; Zoned C‑2 | Community Commercial, allowing for a variety of uses.
