Historic Queen Anne Office
For Sale
$1,199,000
412 E 13TH Ave, Eugene, OR 97401
CommercialSale, Eugene, OR
Property Size3,380 SF
Lot Size0.17 Acres
Price / SF$354.73
Days on Market434
Property Features for 412 E 13TH Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
View
City
Directions
E. 13th to Address
Subdivision
_243
Standard status
Active
APN
0285435
Size
3,380 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
To be provided by escrow
Tax Annual Amount
8728
Legal Description
To be provided by escrow
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1910
Floors in Building
2
Building materials
WoodFrame
Roof type
Composition
Listing Agency:
Windermere RE Lane County · Windermere Real Estate
(541) 484-2022
Listed By:
Kristena Cox
(541) 501-3399
Added: Jun 19, 2025
Changed: Aug 25
Last Checked: Aug 26 at 2:06AM
MLS# 657802417
Copyright © 2026 Regional Multiple Listing Services. 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 3,380-square-foot office property occupies a 0.17-acre corner lot and features a Queen Anne Victorian design dating to 1910. The interior includes 6+ private offices, a full basement, and an unfinished attic, with original architectural details retained through a historic renovation. Wood-frame construction, composition roofing, forced-air heating, and window-unit cooling are in place.
The property is listed on the Oregon Cultural Resource Registry and has a documented transition from residential to commercial occupancy in 1994. C-2 zoning is compatible with office and retail uses. Located at 412 E 13TH Ave in Eugene, the building offers a distinctive historic setting for commercial occupancy while maintaining updated electrical, heating, and plumbing systems.
The property is listed on the Oregon Cultural Resource Registry and has a documented transition from residential to commercial occupancy in 1994. C-2 zoning is compatible with office and retail uses. Located at 412 E 13TH Ave in Eugene, the building offers a distinctive historic setting for commercial occupancy while maintaining updated electrical, heating, and plumbing systems.
Key Highlights
- 3,380‑square‑foot office property on a 0.17‑acre corner lot
- Queen Anne Victorian building constructed in 1910
- 6+ private offices plus a full basement and unfinished attic
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 office and retail uses in a 1910 wood-frame property.
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‑square‑foot office property on a 0.17‑acre corner lot; Queen Anne Victorian building constructed in 1910; 6+ private offices plus a full basement and unfinished attic
