Historic Three-Story Mixed-Use
621 SW Evergreen Avenue Redmond, OR 97756
621 SW Evergreen Avenue, Redmond, OR, 97756
$1,425,000
For Sale
$1,425,000
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 Market192
Property Features for 621 SW Evergreen Avenue
General Information
- Standard status
- Active
- Size
- 7,500 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1919
Listing Agency
John L. Scott Medford
Listed by
Chris Martin
(877) 319-7625
Source
Century21northhomes
Added: Jan 5 Checked: Jul 16 at 2:12 am
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
Local 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 | $153.0k | $20.40 |
| − Vacancy | −$9.4k | −$1.25 |
| EGI | $143.6k | $19.15 |
| − OpEx | −$35.9k | −$4.79 |
| NOI | $107.7k | $14.36 |
7,500 SF · lease $20.40/SF/yr · vacancy 6.14% · expense 25.00%
Alternative Uses
Best Use
Retail
$2.58M
$2.26M – $3.01M
NOI $180,684 @ 7.0% cap · market cap 12.68%
Second Best
Office B
$1.54M
$1.35M – $1.80M
NOI $107,704 @ 7.0% cap · market cap 7.56%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
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
