Brick Mixed-Use Building with
For Sale
$730,000
657 E MAIN St, Cottage Grove, OR 97424
CommercialSale, CottageGrove, OR
Property Size6,485 SF
Lot Size0.10 Acres
Price / SF$112.57
Days on Market294
Property Features for 657 E MAIN St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2 (H)
View
City
Directions
Right on E Main St. Left on S 7th St.
Subdivision
_235
Standard status
Active
APN
0896504
Size
6,485 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
TL 0896504. Addresses included: 637, 641, 657 E Main St. 25 and 27 S 7th St.
Tax Annual Amount
7403
Legal Description
TL 0896504. Addresses included: 637, 641, 657 E Main St. 25 and 27 S 7th St.
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1920
Floors in Building
2
Building materials
Brick
Roof type
Flat
Listing Agency:
Windermere RE Lane County · Windermere Real Estate
(541) 484-2022
Listed By:
River Molyneaux · License #201244874
(541) 650-1226
Added: Dec 20, 2025
Changed: Sep 30
Last Checked: Oct 10 at 9:06AM
MLS# 639815176
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1920, this brick mixed-use property contains 6485 square feet across two substantial commercial areas and a 900 SqFt apartment on the second floor. The building has a flat roof, heat-pump heating, and window-unit cooling. C-2 (H) zoning is in place, and the commercial areas are suited to retail, office, or service uses based on the existing configuration.
Located at 657 E MAIN St in downtown Cottage Grove, the property is within a walkable commercial area. The majority tenant, The Axe & Fiddle, has operated at this location since 2006 and holds weekly shows and events. All units are leased, with some leases up for renewal in 2026.
Located at 657 E MAIN St in downtown Cottage Grove, the property is within a walkable commercial area. The majority tenant, The Axe & Fiddle, has operated at this location since 2006 and holds weekly shows and events. All units are leased, with some leases up for renewal in 2026.
Key Highlights
- 6485 square feet of mixed‑use building area
- Two large commercial spaces plus a 900 SqFt second‑floor apartment
- All units are leased; some leases are up for renewal in 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,661
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,313,220
$1.3M
Cap Rate 7%
$938,014
$938.0K
Cap Rate 9%
$729,567
$729.6K
Market Conditions
NOI Build-Up for 6,485 SF
Gross rent
$116.7K $18.00/SF
− Vacancy
−$11.7K −$1.80/SF
EGI
$105.1K $16.20/SF
− OpEx
−$39.4K −$6.07/SF
NOI
$65.7K $10.13/SF
Area
Lane County, OR
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,313,220
Cap Rate 7%
$938,014
Cap Rate 9%
$729,567
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,141 @ 7.0% cap · market cap 11.39%
Second Best
Mixed Use
$938.0K
$820.8K – $1.09M
NOI $65,661 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$1.64M
$1.44M – $1.91M
NOI $114,844 @ 7.0% cap · market cap 15.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown property combines two commercial spaces with an upper-level residential unit and C-2 (H) zoning.
Where is this mixed-use property located?
The property is located at 657 E MAIN St Cottage Grove, OR.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: 6485 square feet of mixed‑use building area; Two large commercial spaces plus a 900 SqFt second‑floor apartment; All units are leased; some leases are up for renewal in 2026
