Building Details

Year Built 1983

Listing Agency: John L. Scott Eugene

Listed By: Vicki Gile Show Phone

Source: Gilegroup

Added: Sep 28 Last Checked: Sep 30 at 2:03PM

Report an Issue

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 John L. Scott Eugene

Investment Insights

Based on property information with market context.

This 3,068-square-foot mixed-use property combines three residential units with a public laundromat. The multifamily portion was added after 2020, and the property was built in 1983. On-site features include parking for tenants and laundromat customers, along with two EV chargers.

The property is located in Mill City, Oregon, on NW Santiam Boulevard. The laundromat serves the surrounding canyon area, where few similar facilities are noted.

Key Highlights

• Three residential units and a public laundromat
• 3,068 square feet; multifamily portion added after 2020
• Two EV chargers on site

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

$36,241

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

6.30%

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%

$724,820 $724.8K

Cap Rate 7%

$517,729 $517.7K

Cap Rate 9%

$402,678 $402.7K

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

$64.4K $21.00/SF

− Vacancy

−$6.4K −$2.10/SF

EGI

$58.0K $18.90/SF

− OpEx

−$21.7K −$7.09/SF

NOI

$36.2K $11.81/SF

Area

Linn County, OR

Vacancy

10.00%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

37.50%

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%

$724,820

Cap Rate 7%

$517,729

Cap Rate 9%

$402,678

Alternative Uses

Best Use

Mixed Use

$517.7K

$453.0K – $604.0K (±1% cap)

NOI $36,241 @ 7.0% cap · market cap 6.30%

Second Best

Multifamily LT 5

$413.7K

$362.0K – $482.7K (±1% cap)

NOI $28,961 @ 7.0% cap · market cap 5.04%

Theoretical Best

Office A

$893.8K

$782.1K – $1.04M (±1% cap)

NOI $62,564 @ 7.0% cap · market cap 10.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Storage Facility (Bike/Boat/Book/etc) Store Hair Salon Cafe & Coffee Shop Nail Salon

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

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

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Property with Laundromat

Mill City, OR 97360

$575,000

3,068 SF

View details

Retail Building on Highway 22

815 Nw Santiam Blvd, Mill City, OR 97360

$499,000

2,464 SF

View details

Frequently Asked Questions

What type of property is this?

Mixed-use property - Three residential units accompany a public laundromat, with parking and two on-site EV chargers.

Where is this mixed-use property located?

The property is located at 308 NW Santiam BLVD Mill City, OR.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: Three residential units and a public laundromat; 3,068 square feet; multifamily portion added after 2020; Two EV chargers on site