Building Details

Building Size 1,556 SF

Year Built 2012

Buildings 1

Stories 1

Tenancy Single

Listing Agency: Premiere Property Group, LLC

Listed By: Theresa Monahan Show Phone

Source: Duanejohnson

Added: Oct 22 Changed: Oct 23 Last Checked: Oct 23 at 5:22PM

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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 Premiere Property Group, LLC

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The property includes a 1,556-square-foot building constructed in 2012, together with the underlying land. Subway occupies the site under a land lease, and the parcel is described as a corner location.

Zoning is C-1. The property is included in a multi-parcel portfolio; the portfolio parcels together comprise nearly an entire city block.

Key Highlights

• 1,556‑square‑foot building constructed in 2012
• Subway tenant occupies the property under a land lease
• C‑1 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,908

Cap Rate

5.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$478,160 $478.2K

Cap Rate 7%

$341,543 $341.5K

Cap Rate 9%

$265,644 $265.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,556 SF

Gross rent

$50.2K $32.28/SF

− Vacancy

−$16.1K −$10.33/SF

EGI

$34.2K $21.95/SF

− OpEx

−$10.2K −$6.59/SF

NOI

$23.9K $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 Rate 5%

$478,160

Cap Rate 7%

$341,543

Cap Rate 9%

$265,644

Alternative Uses

Best Use

Retail

$341.5K

$298.9K – $398.5K (±1% cap)

NOI $23,908 @ 7.0% cap · market cap 5.98%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$453.3K

$396.6K – $528.8K (±1% cap)

NOI $31,730 @ 7.0% cap · market cap 7.93%

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

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Subway Take-out & Catering

Suggested Use

Top Pick Dental Office Real Estate Agency HVAC Service Big Box & Wholesale Store Hair Salon Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

180

Businesses Nearby

18k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 86% Dining 14%

Dollar General Shops & Services

7,491 visits/mo 0.2 miles

Dari Mart Shops & Services

6,451 visits/mo 0.1 miles

SUBWAY Dining

2,586 visits/mo 0.1 miles

KeyBank Shops & Services

1,847 visits/mo 0.1 miles

Demographics for 97446, OR

5,067

Population

1,887

Households

2.7

Avg Household Size

39

Median Age

16%

College-Educated

93%

High-School Grad

123.0 sq mi

ZIP Area

41

Density / Sq Mi

$72,065

Median Household Income

$44,363

Median Earnings

$1,172

Median Rent

$318,200

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

1031 exchange property - A C-1-zoned commercial property is occupied by a Subway tenant under a land lease.

Where is this 1031 exchange property located?

The property is located at 305 Smith St Harrisburg, OR.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: 1,556‑square‑foot building constructed in 2012; Subway tenant occupies the property under a land lease; C‑1 zoning