Historic Queen Anne Office
For Sale
$1,199,000
412 E 13th Ave, Eugene, OR 97401
C-2 zoning supports a range of commercial uses, including offices and retail.
Property Size3,380 SF
Price / SF$354.73
Days on Market27
Property Features for 412 E 13th Ave
General Information
Standard status
Active
Size
3,380 SF
Building Details
Year Built
1910
Listing Agency:
Windermere RE Lane County
(541) 465-8108
Listed By:
Kristena Cox
Source:
Switzerrealestategroup
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 28 at 8:34PM
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 Windermere RE Lane County
Investment Insights
Based on property information with market context.
This 3,380 sf office building occupies a prominent corner lot and combines historic character with updated building systems. Constructed in 1910 in the Queen Anne style, the property includes 6+ private offices, a full basement, and an attic. Original architectural details include vertical grain fir siding and interior trim, while the interior features large rooms, distinctive wallpaper, painted accents, and custom draperies.
The property is listed on the Oregon Cultural Resource Registry and underwent a legal occupancy change from residential to commercial zoning in 1994. Electrical, heating, and plumbing systems have been updated. C-2 zoning accommodates a broad range of commercial uses, including office and retail applications. The building previously housed Soft Horizons Fibre for nearly 30 years.
The property is listed on the Oregon Cultural Resource Registry and underwent a legal occupancy change from residential to commercial zoning in 1994. Electrical, heating, and plumbing systems have been updated. C-2 zoning accommodates a broad range of commercial uses, including office and retail applications. The building previously housed Soft Horizons Fibre for nearly 30 years.
Key Highlights
- 3,380 sf Queen Anne office building constructed in 1910
- 6+ private offices with a full basement and attic
- C‑2 zoning supports office and retail uses
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
$51,714
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
4.31%
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%
$1,034,280
$1.0M
Cap Rate 7%
$738,771
$738.8K
Cap Rate 9%
$574,600
$574.6K
Market Conditions
NOI Build-Up for 3,380 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
$81.1K $24.00/SF
− Vacancy
−$12.2K −$3.60/SF
EGI
$69.0K $20.40/SF
− OpEx
−$17.2K −$5.10/SF
NOI
$51.7K $15.30/SF
Area
Eugene, OR
Vacancy
15.00%
Lease Rate
$24.00 /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%
$1,034,280
Cap Rate 7%
$738,771
Cap Rate 9%
$574,600
Alternative Uses
Best Use
Office B
$738.8K
$646.4K – $861.9K
NOI $51,714 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$892.3K – $1.19M
NOI $71,386 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,468
Businesses Nearby
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - C-2 zoning supports a range of commercial uses, including offices and retail.
Where is this office building located?
The property is located at 412 E 13th Ave Eugene, OR.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 3,380 sf Queen Anne office building constructed in 1910; 6+ private offices with a full basement and attic; C‑2 zoning supports office and retail uses
