308 NW Santiam BLVD, Mill City, OR 97360

Building Details

Year Built 1983 More

Listing Agency: Jmg - Jason Mitchell Group

Listed By: Vicki Gile Show Phone

Source: Gilegroup

Added: Sep 28 Changed: Nov 14 Last Checked: Nov 14 at 5:12AM

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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 Jmg - Jason Mitchell Group

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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 / Yr

$36,241

Cap Rate

6.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$724,820 $724.8K

Cap Rate 7%

$517,729 $517.7K

Cap Rate 9%

$402,678 $402.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,068 SF

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 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 6.90%

Second Best

Multifamily LT 5

$413.7K

$362.0K – $482.7K (±1% cap)

NOI $28,961 @ 7.0% cap · market cap 5.52%

Theoretical Best

Office A

$893.8K

$782.1K – $1.04M (±1% cap)

NOI $62,564 @ 7.0% cap · market cap 11.92%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

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

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 $525,000.

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