Corner Mixed-Use
For Sale
$399,900
485 N Main St, Mount Angel, OR 97362
Residential and commercial zoning supports a flexible live-work or business configuration with rooms for offices, meetings, or storage.
Property Size2,120 SF
Lot Size0.15 Acres
Price / SF$188.63
Days on Market18
Property Features for 485 N Main St
General Information
Standard status
Active
Size
2,120 SF
Lot size
0.15 Acres
Additional Details
Road Access
Yes
Building Details
Year Built
1912
Listing Agency:
Berkshire Hathaway HomeServices Real Estate Professionals
(503) 371-3013
Listed By:
Mark Shadrin · License #201215479
Source:
Wisser
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 30 at 7:54PM
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 Berkshire Hathaway HomeServices Real Estate Professionals
Investment Insights
Based on property information with market context.
This mixed-use property combines residential and commercial zoning within a two-level layout. The 2,120-square-foot building includes a large kitchen, dining and living areas, two bedrooms, and 2-3 additional rooms that can accommodate offices, meeting space, studios, storage, or other work areas. Two updated full bathrooms provide one on each level, while a newer ductless heat pump serves the home. An oversized walk-in pantry adds storage for supplies, inventory, or household use.
The property occupies a 6,500-square-foot corner lot at N Main St and Marquam in Mt. Angel, Oregon. Its prominent intersection setting places the building along one of the city's most traveled streets. Built in 1912, the property offers a combination of flexible interior space, mixed-use zoning, and a live-work configuration.
The property occupies a 6,500-square-foot corner lot at N Main St and Marquam in Mt. Angel, Oregon. Its prominent intersection setting places the building along one of the city's most traveled streets. Built in 1912, the property offers a combination of flexible interior space, mixed-use zoning, and a live-work configuration.
Key Highlights
- 2,120 sqft building on a 6,500 sq. ft. corner lot
- Residential and commercial zoning
- Two bedrooms plus 2‑3 additional flexible‑use rooms
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
$27,062
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
6.77%
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%
$541,240
$541.2K
Cap Rate 7%
$386,600
$386.6K
Cap Rate 9%
$300,689
$300.7K
Market Conditions
NOI Build-Up for 2,120 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
$47.1K $22.20/SF
− Vacancy
−$3.8K −$1.78/SF
EGI
$43.3K $20.42/SF
− OpEx
−$16.2K −$7.66/SF
NOI
$27.1K $12.77/SF
Area
Marion County, OR
Vacancy
8.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
37.50%
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%
$541,240
Cap Rate 7%
$386,600
Cap Rate 9%
$300,689
Alternative Uses
Best Use
Mixed Use
$386.6K
$338.3K – $451.0K
NOI $27,062 @ 7.0% cap · market cap 6.77%
Second Best
Office B
$370.1K
$323.9K – $431.8K
NOI $25,909 @ 7.0% cap · market cap 6.48%
Theoretical Best
Specialty Retail
$498.6K
$436.3K – $581.7K
NOI $34,901 @ 7.0% cap · market cap 8.73%
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
256
Businesses Nearby
Explore this area
Business Placement
Demographics for 97362, OR
4,397
Population
1,377
Households
3.2
Avg Household Size
39
Median Age
19%
College-Educated
78%
High-School Grad
23.4 sq mi
ZIP Area
188
Density / Sq Mi
$62,813
Median Household Income
$37,177
Median Earnings
$1,199
Median Rent
$420,400
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?
Mixed-use property - Residential and commercial zoning supports a flexible live-work or business configuration with rooms for offices, meetings, or storage.
Where is this mixed-use property located?
The property is located at 485 N Main St Mount Angel, OR.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2,120 sqft building on a 6,500 sq. ft. corner lot; Residential and commercial zoning; Two bedrooms plus 2‑3 additional flexible‑use rooms
