Former Group Care
For Sale
Contact for pricing
3692 Hickory Ave, Eugene, OR 97401
5,896 SF facility suitable for assisted living or healthcare.
Property Size5,896 SF
Lot Size0.29 Acres
Price / SF$185.72
Days on Market165
Property Features for 3692 Hickory Ave
General Information
Standard status
Active
Size
5,896 SF
Lot size
0.29 Acres
Property subtype
Senior Living
Zoning
R-1
Building Details
Year Built
1989
Buildings
1
Stories
2
Listing Agency:
Campbell Commercial Real Estate
(541) 556-4813
Listed By:
Abby Hyland · License #201256624
Source:
Crexi
Added: Mar 9
Changed: Aug 17
Last Checked: Aug 18 at 11:09PM
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 Campbell Commercial Real Estate
Investment Insights
Based on property information with market context.
The property at 3692 Hickory Avenue in Eugene, Oregon, is a 5,896 square-foot former group care facility located on a 0.29-acre corner lot at the intersection of Garden Way and Hickory Avenue. The building is currently vacant and designed to accommodate up to 15 residents, operating under an existing Conditional Use Permit. The layout includes 10 resident bedrooms, two nursing stations, multiple ADA-compliant bathrooms, a commercial kitchen, administrative offices, and shared living and dining areas. Additional features include a laundry room and a fenced outdoor courtyard. The property is suitable for assisted living, adult foster care, transitional housing, behavioral health, recovery housing, or reentry housing uses, presenting a turnkey opportunity for licensed operators or healthcare providers.
Key Highlights
- Turnkey opportunity for licensed operators or healthcare providers due to existing Conditional Use Permit for up to 15 residents.
- 5,896 SF former group care facility suitable for various uses including assisted living, adult foster care, or behavioral health.
- Includes 10 resident bedrooms, two nursing stations, multiple ADA‑compliant bathrooms, and a commercial kitchen.
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
$46,136
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
4.21%
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%
$922,720
$922.7K
Cap Rate 7%
$659,086
$659.1K
Cap Rate 9%
$512,622
$512.6K
Market Conditions
NOI Build-Up for 5,896 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
$84.9K $14.40/SF
− Vacancy
−$1.0K −$0.17/SF
EGI
$83.9K $14.23/SF
− OpEx
−$37.7K −$6.40/SF
NOI
$46.1K $7.82/SF
Area
Eugene, OR
Vacancy
1.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$922,720
Cap Rate 7%
$659,086
Cap Rate 9%
$512,622
Alternative Uses
Best Use
Apartment 5plus
$659.1K
$576.7K – $768.9K
NOI $46,136 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,524 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Balanced
Demand for This Use
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
Questions? Ask Rey
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Similar Off Market Nearby
- Aj's Adult Foster Home — 3660 Mahlon Ave, Eugene, OR 97401
- REYNOLDS ADULT FOSTER CARE — 690 Palomino Dr, Eugene, OR 97401
- Allegiant Retirement Solutions — 870 W Centennial Blvd, Springfield, OR 97477
- Gateway Gardens — 178 Commons Dr, Eugene, OR 97401
- Garden Place — 3692 Hickory Ave, Eugene, OR 97401
Frequently Asked Questions
What type of property is this?
Assisted living facility - 5,896 SF facility suitable for assisted living or healthcare.
Where is this assisted living facility located?
The property is located at 3692 Hickory Ave Eugene, OR.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Turnkey opportunity for licensed operators or healthcare providers due to existing Conditional Use Permit for up to 15 residents.; 5,896 SF former group care facility suitable for various uses including assisted living, adult foster care, or behavioral health.; Includes 10 resident bedrooms, two nursing stations, multiple ADA‑compliant bathrooms, and a commercial kitchen.
