Eugene DMV Investment
For Sale
Contact for pricing
499 Valley River Center, Eugene, OR 97401
8,580 SF Oregon DMV on 2.02 acres for sale.
Property Size8,580 SF
Lot Size2.02 Acres
Price / SF$309.67
Days on Market184
Property Features for 499 Valley River Center
General Information
Standard status
Active
Size
8,580 SF
Total Parking Spaces
116
Lot size
2.02 Acres
Property subtype
Office
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$185,987
Building Details
Year Built
1968
Year Renovated
1990
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
CBRE - Atlanta
(404) 504-7893
Listed By:
Chris Bosworth · License #GA 248342
Source:
Crexi
Added: Feb 10
Changed: Aug 11
Last Checked: Aug 13 at 8:27AM
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 CBRE - Atlanta
Investment Insights
Based on property information with market context.
The property offered for sale is an 8,580-square-foot Oregon Driver & Motor Vehicle Services (DMV) asset, also referred to as the Eugene DMV. It is positioned on a 2.02-acre lot in Eugene, Oregon, which is part of an MSA with a population of 392,601. The Eugene DMV has a net lease with approximately 6.6 years of remaining term. The lease includes 3.00%+ annual rent increases throughout the term and in each of the two 5-year renewal options.
Key Highlights
- Net lease with ±6.6 years remaining provides stable, long‑term income.
- 3.00%+ annual rent increases offer inflation protection and growing returns.
- Tenant is Oregon Driver & Motor Vehicle Services (Eugene DMV), a reliable government entity.
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
$131,274
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
4.94%
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%
$2,625,480
$2.6M
Cap Rate 7%
$1,875,343
$1.9M
Cap Rate 9%
$1,458,600
$1.5M
Market Conditions
NOI Build-Up for 8,580 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
$205.9K $24.00/SF
− Vacancy
−$30.9K −$3.60/SF
EGI
$175.0K $20.40/SF
− OpEx
−$43.8K −$5.10/SF
NOI
$131.3K $15.30/SF
Area
Eugene, OR
Vacancy
15.00%
Lease Rate
$24.00 /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%
$2,625,480
Cap Rate 7%
$1,875,343
Cap Rate 9%
$1,458,600
Alternative Uses
Best Use
Office B
$1.88M
$1.64M – $2.19M
NOI $131,274 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.59M
$2.27M – $3.02M
NOI $181,210 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,353
Businesses Nearby
Explore this area
Business Placement
Demographics for 97401, OR
45,634
Population
24,220
Households
1.9
Avg Household Size
32
Median Age
47%
College-Educated
96%
High-School Grad
9.3 sq mi
ZIP Area
4,907
Density / Sq Mi
$51,244
Median Household Income
$26,604
Median Earnings
$1,318
Median Rent
$472,200
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?
Office building - 8,580 SF Oregon DMV on 2.02 acres for sale.
Where is this office building located?
The property is located at 499 Valley River Center Eugene, OR.
What is the asking price?
The asking price for this property is $2,657,000.
What are key features of this property?
This property features: Net lease with ±6.6 years remaining provides stable, long‑term income.; 3.00%+ annual rent increases offer inflation protection and growing returns.; Tenant is Oregon Driver & Motor Vehicle Services (Eugene DMV), a reliable government entity.
