488 Main ST Springfield, OR 97477

Building Details

Year Built

2024

Listing agency Windermere RE Lane County k***@windermere.com Show Phone

Listed by Kristena Cox

Source Tripleoaksrealty

Added: Jan 28, 2025 Updated: Jul 21 at 2:59PM Checked: Jul 21 at 2:59PM

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Investment Insights

Based on property information with market context.

Rivett on 5th & Main is a newly completed mixed-use development finished in December 2024. The property includes 12 townhouse-style apartment units on the second floor, two retail spaces, and one live/work unit. The project was architecturally designed with “top-of-the-line amenities,” and lease-up has just begun.

The development is located at 488 Main ST in Springfield, Oregon (Eugene/Springfield metro area). The seller indicates that at the asking price, they will lease back any apartment unit that is not leased by closing. A 10-year property tax freeze is in place on the apartments, excluding the commercial units.

The current mix supports multiple income streams with apartments alongside ground-level retail and a live/work configuration.

Key Highlights

• New mixed‑use development completed December 2024 (YearBuilt: 2024)
• 12 townhouse‑style apartments on the second floor
• Includes two retail spaces plus one live/work unit

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FAQs

What type of property is this?

Mixed-use property - Newly completed in December 2024, featuring townhouse-style apartments, two retail spaces, and a live/work unit.

Where is this mixed-use property located?

The property is located at 488 Main ST Springfield, OR.

What is the asking price?

The asking price for this property is $4,950,000.

What are key features of this property?

This property features: New mixed‑use development completed December 2024 (YearBuilt: 2024); 12 townhouse‑style apartments on the second floor; Includes two retail spaces plus one live/work unit