Flex Space with Office and Shop
New
For Sale
$1,200,000
3521 Franklin BLVD, Eugene, OR 97403
Versatile commercial layout combines lobby and office areas with showroom and shop space.
Property Size11,000 SF
Lot Size1.00 Acre
Price / SF$109.77
Days on Market2
Property Features for 3521 Franklin BLVD
General Information
Standard status
Active
Size
11,000 SF
Lot size
1.00 Acre
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Build-Out
3,000 SF
Building Details
Year Built
1970
Building Size
11,000 SF
Listing Agency:
Odonnell Group Realty
(360) 844-3142
Listed By:
Donna Roberts
(360) 844-3142
Source:
Donnarobertsgroup
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 2:51PM
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 Odonnell Group Realty
Investment Insights
Based on property information with market context.
This flex-space property at 3521 Franklin BLVD includes a combination of lobby, office, showroom, and shop areas. The interior configuration supports auto-related operations, storage, and garage or warehouse functions, subject to applicable requirements.
The property is located in Eugene, Oregon, approximately half a mile from I-5, providing direct proximity to a major transportation route. Constructed in 1970, the building offers a flexible commercial layout for an owner-user or operator seeking office and work areas within the same facility.
The property is located in Eugene, Oregon, approximately half a mile from I-5, providing direct proximity to a major transportation route. Constructed in 1970, the building offers a flexible commercial layout for an owner-user or operator seeking office and work areas within the same facility.
Key Highlights
- Flex‑space property with lobby, office, showroom, and shop areas
- Approximately half a mile from I‑5
- Located at 3521 Franklin BLVD, Eugene, OR 97403
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
$105,236
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
8.77%
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%
$2,104,720
$2.1M
Cap Rate 7%
$1,503,371
$1.5M
Cap Rate 9%
$1,169,289
$1.2M
Market Conditions
NOI Build-Up for 10,932 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
$157.4K $14.40/SF
− Vacancy
−$7.1K −$0.65/SF
EGI
$150.3K $13.75/SF
− OpEx
−$45.1K −$4.13/SF
NOI
$105.2K $9.63/SF
Area
Eugene, OR
Vacancy
4.50%
Lease Rate
$14.40 /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%
$2,104,720
Cap Rate 7%
$1,503,371
Cap Rate 9%
$1,169,289
Alternative Uses
Best Use
Warehouse
$1.66M
$1.46M – $1.94M
NOI $116,524 @ 7.0% cap · market cap 9.71%
Second Best
Flex RnD
$1.60M
$1.40M – $1.87M
NOI $112,215 @ 7.0% cap · market cap 9.35%
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $230,884 @ 7.0% cap · market cap 19.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97403, OR
15,275
Population
5,146
Households
3
Avg Household Size
26
Median Age
60%
College-Educated
93%
High-School Grad
4.2 sq mi
ZIP Area
3,637
Density / Sq Mi
$47,103
Median Household Income
$12,067
Median Earnings
$1,211
Median Rent
$550,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial layout combines lobby and office areas with showroom and shop space.
Where is this flex space located?
The property is located at 3521 Franklin BLVD Eugene, OR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Flex‑space property with lobby, office, showroom, and shop areas; Approximately half a mile from I‑5; Located at 3521 Franklin BLVD, Eugene, OR 97403
