Historic Three-Story Mixed-Use
For Sale
$1,425,000
621 SW Evergreen Avenue, Redmond, OR 97756
Built in 1919 and fully leased, this three-story property includes ground-floor retail, office/commercial space, and apartments.
Property Size7,500 SF
Price / SF$190
Days on Market376
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Property Features for 621 SW Evergreen Avenue
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Commercial
Occupancy
100%
Units
Multifamily Units
10
Office Units
2
Additional Details
Business Included
Yes
Building Details
Year Built
1919
Year Renovated
1932
Stories
3
Tenancy
Multi
Listing Agency:
John L. Scott Medford
Listed By:
Chris Martin · License #200706071
(541) 660-5111
Source:
Century21northhomes
Added: Oct 5, 2025
Changed: Oct 15
Last Checked: Oct 15 at 12:02AM
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 John L. Scott Medford
Investment Insights
Based on property information with market context.
The Landaker Building is a historic, three-story structure built in 1919 and renovated in 1932, with added floors supporting office and apartment space. The building spans approximately 7,500 square feet and is fully leased. Tenant mix includes two ground-floor retail units, two commercial units on the third floor, and 10 apartment units on the second and third floors.
Located at the prominent intersection of Evergreen Avenue and Sixth Street in Downtown Redmond, Oregon, the property was originally constructed as a pool hall before the 1932 renovation.
This is a mixed-use income property with established occupancy across retail, commercial, and residential components within one historic building.
Located at the prominent intersection of Evergreen Avenue and Sixth Street in Downtown Redmond, Oregon, the property was originally constructed as a pool hall before the 1932 renovation.
This is a mixed-use income property with established occupancy across retail, commercial, and residential components within one historic building.
Key Highlights
- Built in 1919, the Landaker Building is a three‑story property with approximately 7,500 SF
- Fully leased building with multiple income‑producing units across retail, commercial, and apartments
- Includes 2 ground‑floor retail units plus 2 commercial units on the third floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,050
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,921,000
$1.9M
Cap Rate 7%
$1,372,143
$1.4M
Cap Rate 9%
$1,067,222
$1.1M
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$189.0K $25.20/SF
− Vacancy
−$14.4K −$1.92/SF
EGI
$174.6K $23.28/SF
− OpEx
−$78.6K −$10.48/SF
NOI
$96.0K $12.81/SF
Area
Deschutes County, OR
Vacancy
7.60%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,921,000
Cap Rate 7%
$1,372,143
Cap Rate 9%
$1,067,222
Alternative Uses
Best Use
Retail
$2.58M
$2.26M – $3.01M
NOI $180,684 @ 7.0% cap · market cap 12.68%
Second Best
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $96,050 @ 7.0% cap · market cap 6.74%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
10
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
945
Businesses Nearby
Explore this area
Business Placement
Demographics for 97756, OR
42,168
Population
18,335
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
92%
High-School Grad
126.3 sq mi
ZIP Area
334
Density / Sq Mi
$84,067
Median Household Income
$41,909
Median Earnings
$1,473
Median Rent
$469,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1919 and fully leased, this three-story property includes ground-floor retail, office/commercial space, and apartments.
Where is this apartment building located?
The property is located at 621 SW Evergreen Avenue Redmond, OR.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Built in 1919, the Landaker Building is a three‑story property with approximately 7,500 SF; Fully leased building with multiple income‑producing units across retail, commercial, and apartments; Includes 2 ground‑floor retail units plus 2 commercial units on the third floor
