Historic Office
For Sale
$1,500,000
434 NE Evans Street, McMinnville, OR 97128
C-3 zoning allows office, retail, mixed-use, and certain residential configurations.
Property Size5,000 SF
Price / SF$300
Days on Market95
Property Features for 434 NE Evans Street
General Information
Standard status
Active
Size
5,000 SF
Total Parking Spaces
8
Property subtype
Commercial
Zoning
C-3
Building Details
Year Built
1909
Buildings
1
Building Size
5,000 SF
Construction
neo-colonial revival
Listing Agency:
Miller Consulting Group,LLC
Listed By:
Michael Morris · License #1012481
(503) 740-9200
Source:
Century21northhomes
Added: Jul 19
Changed: Oct 21
Last Checked: Oct 21 at 2:22AM
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 Miller Consulting Group,LLC
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Investment Insights
Based on property information with market context.
The 5,000-square-foot Fenton House is a 1909 office building recognized on the National Register of Historic Places in 1983. Its three finished levels include a foyer, private offices, fireplace, bathrooms, and a basement with a kitchen, shower, storage room, and separate office. An unfinished attic has ducting. Interior details include bay windows with window seats, crown molding, and a porch supported by square columns.
C-3 zoning permits office, retail, mixed-use, or multifamily use; single-use residences and duplexes are allowed under certain conditions. The property faces the County Courthouse across the street and is two blocks from Third Street in downtown McMinnville. It has 8 dedicated parking spaces, in addition to street parking.
Two main HVAC units were replaced in 2016, the roof in 2010, and the front steps in 2015; the steps received SHPO certification.
C-3 zoning permits office, retail, mixed-use, or multifamily use; single-use residences and duplexes are allowed under certain conditions. The property faces the County Courthouse across the street and is two blocks from Third Street in downtown McMinnville. It has 8 dedicated parking spaces, in addition to street parking.
Two main HVAC units were replaced in 2016, the roof in 2010, and the front steps in 2015; the steps received SHPO certification.
Key Highlights
- 5,000‑square‑foot, 1909 building listed on the National Register of Historic Places in 1983
- C‑3 zoning permits office, retail, mixed‑use, or multifamily use; single‑use residences and duplexes are conditional
- Three finished levels with private offices, bathrooms, a basement kitchen and shower, and an unfinished attic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,724
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,294,480
$1.3M
Cap Rate 7%
$924,629
$924.6K
Cap Rate 9%
$719,156
$719.2K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$114.0K $22.80/SF
− Vacancy
−$27.7K −$5.54/SF
EGI
$86.3K $17.26/SF
− OpEx
−$21.6K −$4.31/SF
NOI
$64.7K $12.94/SF
Area
Yamhill County, OR
Vacancy
24.30%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,294,480
Cap Rate 7%
$924,629
Cap Rate 9%
$719,156
Alternative Uses
Best Use
Office B
$924.6K
$809.1K – $1.08M
NOI $64,724 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,474 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,487
Businesses Nearby
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Business Placement
Demographics for 97128, OR
38,394
Population
15,291
Households
2.5
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
112.2 sq mi
ZIP Area
342
Density / Sq Mi
$72,055
Median Household Income
$37,427
Median Earnings
$1,295
Median Rent
$419,200
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - C-3 zoning allows office, retail, mixed-use, and certain residential configurations.
Where is this office building located?
The property is located at 434 NE Evans Street McMinnville, OR.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 5,000‑square‑foot, 1909 building listed on the National Register of Historic Places in 1983; C‑3 zoning permits office, retail, mixed‑use, or multifamily use; single‑use residences and duplexes are conditional; Three finished levels with private offices, bathrooms, a basement kitchen and shower, and an unfinished attic
