Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Mixed-Use Property in Downtown Albany Title is generated by Realmo AI

    418 E 1st Av, Albany, OR 97321

    View on Map
    Claim this Listing
    For Sale
    $890,000

    Any Use-All the Following - Albany, OR

    Property size:
    4,524 SF
    Lot size:
    0.33 Acres
    Price / SF:
    $196/SF
    Added:
    Apr 17, 2026
    Days on Market:
    26
    Last Refresh:
    May 12 at 5:06 pm

    Property Features for 418 E 1st Av

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    20
    Standard status
    Active
    APN
    82889,82897,41554
    Size
    4,524 SF
    Lot size
    0.33 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5961

    Building Details

    Year built
    1980
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    LAURA GILLOTT
    LAURA GILLOTT

    Listing agent LAURA GILLOTT

    Listing office KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM 266 E GRANT ST, Corvallis, OR

    Listing date Apr 17, 2026

    MLS# 839848 Listing URL

    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.

    HighLights

    • Convenient downtown Albany location
    • 8‑unit multi‑tenant mix of office, retail, and residential spaces
    • 15 off‑street parking spaces
    • New roof installed in 2023
    • 4,524 SF in three separate buildings on three tax lots
    • Separate meters for each unit

    Overview

    This mixed-use property in downtown Albany, Oregon, features a combination of office, retail, and residential spaces. The property consists of eight units across three separate buildings, totaling 4,524 square feet and situated on three tax lots. It includes covered walkways, separate meters, a pylon sign, and 15 off-street parking spaces. A new roof was installed in 2023. The lot size is 0.33 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Linn
    State
    Oregon
    Longitude
    -123.1005919
    Latitude
    44.6376054

    Nearby Similar for Sale

    • $775,000
      2,220 SF

      Albany Duplex on Large Lot

      Duplex on 0.97 acre lot with shop and RV storage.
      31534-31536 Easy Av SW, Albany, OR 97321
      View Details
    • $550,000
      3,027 SF

      Albany Triplex with Garages

      South Albany triplex featuring garages, open floor plans, and fenced yards.
      3426 Marion (1,2,3) St SE, Albany, OR 97322
      View Details
    • $950,000
      8,900 SF

      Historic Church with Flexible Space

      8,900 sqft historic church suitable for ministry or community programs.
      1099 SW Queen Av, Albany, OR 97321
      View Details
    • $410,000
      2,080 SF

      Albany Duplex with Large Backyard

      Two homes in one with room to grow!
      2522/2520 Main St SE, Albany, OR 97322
      View Details
    • $3,525,000
      24,260 SF

      Light Industrial Building Investment Opportunity

      Class A light industrial building with long-term tenant, great location.
      1913-1957 Fescue St SE, Albany, OR 97322
      View Details
    • $970,000
      8,472 SF

      High Visibility Retail/Office Space

      8,000+ SF retail/office on corner lot in Albany.
      2501 Pacific Blvd SE, Albany, OR
      View Details
    • $850,000
      6,854 SF

      Remodeled Multi-Tenant Albany Investment Property

      Turnkey investment opportunity in downtown Albany, Oregon with long-term tenants.
      214 2nd Ave SW, Albany, OR
      View Details
    • $550,000
      2,955 SF

      Historic Albany Building For Sale

      2,955 SF brick building in Albany's Historic Downtown.
      330 SW Washington St, Albany, OR 97321
      View Details
    • $3,850,000
      16,754 SF

      Albany Industrial Outdoor Storage Site

      9-acre industrial site with warehouse and office space for sale.
      3923 Old Salem Rd NE, Albany, OR 97321
      View Details
    • Contact for pricing

      Chipotle Corporate Lease Opportunity

      Corporate Chipotle lease with rental increases in top Oregon mall.
      1961 14th Avenue SE, Albany, OR 97322
      View Details
    • $970,000
      8,000 SF

      High Visibility Retail/Office Space

      8,000+ SF retail/office space on corner lot for sale.
      2501 Pacific Bl SE, Albany, OR 97321
      View Details
    • $1,320,000

      Jack in the Box Ground Lease

      Jack in the Box ground lease in Albany's retail corridor.
      1825 Pacific Blvd SE, Albany, OR 97321
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Multi-tenant office, retail, and residential mix in downtown Albany.
    Where is this mixed-use property located?
    The property is located at 418 E 1st Av Albany, OR.
    What is the asking price?
    The asking price for this property is $890,000.
    What are key features of this property?
    This property features: Convenient downtown Albany location; 8‑unit multi‑tenant mix of office, retail, and residential spaces; 15 off‑street parking spaces
    (541) 451-2211
    We can help!
    Listing Contact
    LAURA GILLOTT
    LAURA GILLOTT
    Real Estate License ID: 920300248
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    418 E 1st Av, Albany, OR 97321
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!