Updated Medical Office
For Sale
Contact for pricing
Pending
502 E Whiteaker Ave, Cottage Grove, OR 97424
Vacant, updated medical office space near Main Street.
Property Size835 SF
Days on Market1990
Property Features for 502 E Whiteaker Ave
General Information
Standard status
Pending
Size
835 SF
Class
C
Total Parking Spaces
8
Property subtype
Office
Zoning
C2
Occupancy
100%
Lease Type
Gross
Investment Type
Owner/User
Building Details
Year Built
1955
Year Renovated
2018
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Triple Oaks Realty
(541) 636-3666
Listed By:
Brent Cole · License #200607178
Source:
Crexi
Added: Mar 9, 2021
Changed: Aug 8
Last Checked: Aug 19 at 4:32PM
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 Triple Oaks Realty
Investment Insights
Based on property information with market context.
This vacant property is ready for a new owner-user. It is located one block from Main Street. The property is currently configured for medical office use, making it suitable for medical practices, licensed massage therapists, veterinary clinics, general office use, or retail businesses. The building features newer ductless heat and air conditioning, updated fixtures, and plumbing. The layout includes office and exam rooms, as well as a reception area. On-site parking is available in the paved lot. The property has a size of 835 square feet.
Key Highlights
- Excellent location: just 1 block from Main Street.
- Vacant and ready for immediate occupancy.
- Updated with newer ductless heat/AC, fixtures, and plumbing.
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
$11,567
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
5.64%
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%
$231,340
$231.3K
Cap Rate 7%
$165,243
$165.2K
Cap Rate 9%
$128,522
$128.5K
Market Conditions
NOI Build-Up for 835 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
$18.5K $22.20/SF
− Vacancy
−$3.1K −$3.73/SF
EGI
$15.4K $18.47/SF
− OpEx
−$3.9K −$4.62/SF
NOI
$11.6K $13.85/SF
Area
Lane County, OR
Vacancy
16.80%
Lease Rate
$22.20 /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%
$231,340
Cap Rate 7%
$165,243
Cap Rate 9%
$128,522
Alternative Uses
Best Use
Office B
$165.2K
$144.6K – $192.8K
NOI $11,567 @ 7.0% cap · market cap 5.64%
Second Best
Healthcare Medical
$145.4K
$127.2K – $169.6K
NOI $10,177 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$211.2K
$184.8K – $246.5K
NOI $14,787 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97424, OR
18,750
Population
7,920
Households
2.4
Avg Household Size
45
Median Age
22%
College-Educated
91%
High-School Grad
246.2 sq mi
ZIP Area
76
Density / Sq Mi
$71,985
Median Household Income
$36,588
Median Earnings
$1,012
Median Rent
$349,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Cottage Grove Veterinary Clinic — 1221 E Main St, Cottage Grove, OR 97424
Frequently Asked Questions
What type of property is this?
Medical Office Space - Vacant, updated medical office space near Main Street.
Where is this medical office space located?
The property is located at 502 E Whiteaker Ave Cottage Grove, OR.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Excellent location: just 1 block from Main Street.; Vacant and ready for immediate occupancy.; Updated with **newer ductless heat/AC, fixtures, and plumbing.**
