Highly Visible Mixed-Use Flex
For Sale
$369,000
Pending
501 Main Street, Phoenix, OR 97535
Mixed-use property with two distinct spaces, including a workshop featuring a 9' overhead door and paved front lot.
Property Size1,704 SF
Days on Market283
Property Features for 501 Main Street
General Information
Standard status
Pending
Size
1,704 SF
Property subtype
General Commercial
Site & Location
Traffic Count
14,000 vehicles/day
Highway Access
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$1,620
Amenities
Central Air
3
Vinyl, Concrete, Laminate
Metal, Composition
Parking. Corner Lot.
Asphalt, Gravel, Heated Garage, On Street, Lot.
Level
0.15
Corner, Ground Level Unit, Paved Road, Level.
Building Details
Year Built
1947
Stories
1
Listing Agency:
Merit Commercial RE, LLC
(541) 944-9967
Listed By:
Caspian Hoehne
(541) 944-9967
Source:
Xome
Added: Nov 2, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:40AM
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 Merit Commercial RE, LLC
Investment Insights
Based on property information with market context.
501 N Main Street is a highly visible mixed-use property offered for sale with owner-carry terms available. The building contains two distinct spaces totaling approximately 1,704 SF: a main retail space that historically served as a light-use medical area, and an adjacent workshop space designed for more hands-on uses.
The workshop includes a 9' overhead door, and the front lot is paved with room for several vehicles. The rear yard is gravel/grass and fully fenced, providing a blank slate for further development or additional parking.
Located at the main-and-main confluence of North Main Street and Hwy 99, the property is positioned for ease of access with visibility supported by traffic volumes cited at approximately 14k VPD. The layout and existing improvements support a range of creative, retail, or medical concepts; contact brokers for full details.
The workshop includes a 9' overhead door, and the front lot is paved with room for several vehicles. The rear yard is gravel/grass and fully fenced, providing a blank slate for further development or additional parking.
Located at the main-and-main confluence of North Main Street and Hwy 99, the property is positioned for ease of access with visibility supported by traffic volumes cited at approximately 14k VPD. The layout and existing improvements support a range of creative, retail, or medical concepts; contact brokers for full details.
Key Highlights
- Mixed‑use building at 501 N Main St, Phoenix, OR, sited at the North Main St and Hwy 99 “main‑and‑main” confluence
- Two distinct spaces totaling approximately 1,704 SF, with the main retail space historically used as light‑use medical
- Adjacent workshop includes a 9' overhead door, plus ground level unit access
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
$24,706
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
6.70%
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%
$494,120
$494.1K
Cap Rate 7%
$352,943
$352.9K
Cap Rate 9%
$274,511
$274.5K
Market Conditions
NOI Build-Up for 1,704 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
$46.0K $27.00/SF
− Vacancy
−$4.8K −$2.84/SF
EGI
$41.2K $24.17/SF
− OpEx
−$16.5K −$9.67/SF
NOI
$24.7K $14.50/SF
Area
Jackson County, OR
Vacancy
10.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$494,120
Cap Rate 7%
$352,943
Cap Rate 9%
$274,511
Alternative Uses
Best Use
Healthcare Medical
$352.9K
$308.8K – $411.8K
NOI $24,706 @ 7.0% cap · market cap 6.70%
Second Best
Retail
$336.8K
$294.7K – $392.9K
NOI $23,574 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$411.3K
$359.9K – $479.9K
NOI $28,791 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14,000 VPD
Traffic count
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97535, OR
5,015
Population
2,104
Households
2.4
Avg Household Size
46
Median Age
30%
College-Educated
97%
High-School Grad
3.3 sq mi
ZIP Area
1,520
Density / Sq Mi
$60,451
Median Household Income
$35,000
Median Earnings
$1,284
Median Rent
$374,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed-use property with two distinct spaces, including a workshop featuring a 9' overhead door and paved front lot.
Where is this flex space located?
The property is located at 501 Main Street Phoenix, OR.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Mixed‑use building at 501 N Main St, Phoenix, OR, sited at the North Main St and Hwy 99 “main‑and‑main” confluence; Two distinct spaces totaling approximately 1,704 SF, with the main retail space historically used as light‑use medical; Adjacent workshop includes a 9' overhead door, plus ground level unit access
