Mixed-Use Building with
New
For Sale
$320,000
390 S Main St, Lebanon, OR 97355
Commercial, Lebanon, OR
Property Size1,412 SF
Lot Size0.19 Acres
Price / SF$226.63
Days on Market1
Property Features for 390 S Main St
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
HC
Rooms
Basement
Parking
6
View
Territorial
Standard status
Active
Size
1,412 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
1920
Building Details
Year built
1930
Roof type
Other
Listing Agency:
KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
(541) 738-7770
Listed By:
LAURA GILLOTT · License #920300248
(541) 990-7785
Added: Sep 24
Last Checked: Sep 24 at 10:06PM
MLS# 845964
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,412-square-foot mixed-use property, built in 1930, has office and retail potential. The main level includes a reception area, three offices, a break room, and a bathroom. The lower floor adds two offices, a bathroom, and storage. The site measures 0.19 acres and includes more than six off-street parking spaces and signage.
Located on S Main St in Lebanon, the property is zoned HC.
Located on S Main St in Lebanon, the property is zoned HC.
Key Highlights
- 1,412‑square‑foot building on a 0.19‑acre lot
- Main floor has reception, three offices, break room, and bathroom
- Lower floor includes two offices, bathroom, and storage
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
$25,792
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
8.06%
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%
$515,840
$515.8K
Cap Rate 7%
$368,457
$368.5K
Cap Rate 9%
$286,578
$286.6K
Market Conditions
NOI Build-Up for 1,412 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
$40.0K $28.32/SF
− Vacancy
−$5.6K −$3.96/SF
EGI
$34.4K $24.36/SF
− OpEx
−$8.6K −$6.09/SF
NOI
$25.8K $18.27/SF
Area
Linn County, OR
Vacancy
14.00%
Lease Rate
$28.32 /SF/Yr
Expense Ratio
25.00%
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%
$515,840
Cap Rate 7%
$368,457
Cap Rate 9%
$286,578
Alternative Uses
Best Use
Office B
$368.5K
$322.4K – $429.9K
NOI $25,792 @ 7.0% cap · market cap 8.06%
Second Best
Mixed Use
$238.3K
$208.5K – $278.0K
NOI $16,679 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$411.3K
$359.9K – $479.9K
NOI $28,794 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
Explore this area
Business Placement
Demographics for 97355, OR
32,413
Population
13,623
Households
2.4
Avg Household Size
41
Median Age
18%
College-Educated
91%
High-School Grad
214.3 sq mi
ZIP Area
151
Density / Sq Mi
$64,307
Median Household Income
$39,934
Median Earnings
$1,267
Median Rent
$332,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office and retail space is arranged across a main level and lower floor, with on-site parking.
Where is this mixed-use property located?
The property is located at 390 S Main St Lebanon, OR.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 1,412‑square‑foot building on a 0.19‑acre lot; Main floor has reception, three offices, break room, and bathroom; Lower floor includes two offices, bathroom, and storage
