Restaurant Building with
For Sale
$650,000
4265 MAIN St, Springfield, OR 97478
CommercialSale, Springfield, OR
Property Size1,614 SF
Lot Size0.50 Acres
Price / SF$402.73
Days on Market13
Property Features for 4265 MAIN St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CC
View
City
Directions
Main St Springfield near 43d St.
Subdivision
_249
Standard status
Active
APN
1308343
Size
1,614 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Description
17-02-32-32-03006
Tax Annual Amount
2404
Legal Description
17-02-32-32-03006
Utilities
Heating system
Ductless (Heating)
Cooling system
Heat Pump
Building Details
Year built
1947
Building materials
BoardBattenSiding, T111Siding, WoodFrame
Roof type
Membrane
Listing Agency:
Keller Williams Realty Eugene and Springfield
(541) 431-6480
Listed By:
Galand Haas
(541) 349-2620
Added: Aug 13
Changed: Aug 25
Last Checked: Aug 25 at 3:06PM
MLS# 448809692
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 1,614-square-foot restaurant property occupies two tax lots totaling 1/2 acre. Restaurant equipment remains in place and is included with the property. The building was constructed in 1947 and features wood-frame construction with board-and-batten and T1-11 siding, ductless heating, heat-pump cooling, and a membrane roof.
Both parcels front Main Street and provide two road access points. The site carries CC zoning, identified as Community Commercial, supporting the property's existing restaurant configuration and broader commercial use potential stated in the property information.
Both parcels front Main Street and provide two road access points. The site carries CC zoning, identified as Community Commercial, supporting the property's existing restaurant configuration and broader commercial use potential stated in the property information.
Key Highlights
- 1,614‑square‑foot restaurant property on two tax lots
- Two tax lots total 1/2 acre with Main Street frontage
- Two road access points serve the property
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
$23,240
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
3.58%
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%
$464,800
$464.8K
Cap Rate 7%
$332,000
$332.0K
Cap Rate 9%
$258,222
$258.2K
Market Conditions
NOI Build-Up for 1,614 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
$32.3K $20.04/SF
− Vacancy
−$1.4K −$0.84/SF
EGI
$31.0K $19.20/SF
− OpEx
−$7.7K −$4.80/SF
NOI
$23.2K $14.40/SF
Area
Lane County, OR
Vacancy
4.20%
Lease Rate
$20.04 /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%
$464,800
Cap Rate 7%
$332,000
Cap Rate 9%
$258,222
Alternative Uses
Best Use
Specialty Retail
$332.0K
$290.5K – $387.3K
NOI $23,240 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$408.3K
$357.3K – $476.4K
NOI $28,583 @ 7.0% cap · market cap 4.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
89k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 43%
Home Improvements & Furnishings 1%
Taco Bell
Dining
19,233 visits/mo
0.2 miles
Dutch Bros. Coffee
Dining
16,459 visits/mo
0.1 miles
Chevron
Shops & Services
11,415 visits/mo
0.3 miles
76
Shops & Services
10,281 visits/mo
0.3 miles
Arby's
Dining
7,976 visits/mo
0.1 miles
Demographics for 97478, OR
39,155
Population
15,182
Households
2.6
Avg Household Size
40
Median Age
22%
College-Educated
92%
High-School Grad
168.4 sq mi
ZIP Area
233
Density / Sq Mi
$79,051
Median Household Income
$38,508
Median Earnings
$1,314
Median Rent
$361,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing restaurant improvements with included equipment, dual road access, and Community Commercial zoning.
Where is this conventional restaurant located?
The property is located at 4265 MAIN St Springfield, OR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,614‑square‑foot restaurant property on two tax lots; Two tax lots total 1/2 acre with Main Street frontage; Two road access points serve the property
