Remodeled Commercial Building with
612 N 1ST Silverton, OR 97381
For Sale
$349,000
Pending
Remodeled vintage building suitable for commercial or residential use.
Property Size1,331 SF
Lot Size0.18 Acres
Days on Market851
Property Features for 612 N 1ST
General Information
- Standard status
- Pending
- Size
- 1,331 SF
- Lot size
- 0.18 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1925
Listing Agency:
BELLA CASA REAL ESTATE GROUP
(503) 874-1540
Listed By:
JOSEPH GIEGERICH · License #930500235
Source:
Corcoran
Added: Mar 27, 2024
Changed: Jul 6
Last Checked: Jul 23 at 9:58AM
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 BELLA CASA REAL ESTATE GROUP
Investment Insights
Based on property information with market context.
This remodeled vintage home, currently operating as an acupuncture health center, is available for sale. Situated on a 7680 sq ft corner lot, the 1331 sq ft building features off-street parking for 6 cars and an ADA ramp. The property is in excellent condition and includes upgrades such as a new 40-year architectural composition roof, a heat pump with a high-efficiency furnace and air conditioner, upgraded electrical systems, and vinyl siding. The property has potential for both residential and commercial use. The seller will consider a seller contract sale with 1/3 down, 6% interest rate, 5 year term.
Key Highlights
- Prime commercial corner location with high visibility.
- Large 7680 sq ft lot with off‑street parking for 6 cars.
- Remodeled vintage home suitable for commercial or residential use.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.5k | $22.20 |
| − Vacancy | −$7.9k | −$5.91 |
| EGI | $21.7k | $16.29 |
| − OpEx | −$5.4k | −$4.07 |
| NOI | $16.3k | $12.22 |
1,331 SF · lease $22.20/SF/yr · vacancy 26.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$232.4K
$203.3K – $271.1K
NOI $16,266 @ 7.0% cap · market cap 4.66%
Second Best
Healthcare Medical
$192.6K
$168.6K – $224.7K
NOI $13,484 @ 7.0% cap · market cap 3.86%
Theoretical Best
Specialty Retail
$313.0K
$273.9K – $365.2K
NOI $21,912 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Turney Excavating
General Contractor
A Better Way Healing ...
Medical Clinic
ENG Acupuncture Center
Spa & Massage Center
Similar Off Market Nearby
- Abiqua Animal Clinic — 805 Oak St, Silverton, OR 97381
FAQs
What type of property is this?
Medical Office Space - Remodeled vintage building suitable for commercial or residential use.
Where is this medical office space located?
The property is located at 612 N 1ST Silverton, OR.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Prime commercial corner location with **high visibility**.; Large 7680 sq ft lot with off‑street parking for 6 cars.; Remodeled vintage home suitable for commercial or residential use.
