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Building Details

Year Built 1910

Buildings 1

Stories 3

Tenancy Multiple

Listed By: Mendell Gosnell Show Phone

Source: Centurion-res.idxbroker

Added: Jul 1 Changed: Oct 4 Last Checked: Oct 14 at 7:37PM

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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 Mendell Gosnell

Investment Insights

Based on property information with market context.

Built in 1910, this approximately 33,612-square-foot mixed-use property includes four glass-front retail spaces on the ground level, all currently occupied. The second and third floors are undergoing renovation and are planned for 60+ hotel or apartment spaces. The property also contains 10 occupied apartment spaces, along with electrical and plumbing improvements throughout.

The portfolio includes a 0.37-acre off-street parking lot at 661 S Main St in Lebanon, Oregon. Its combination of street-level retail, occupied apartments, additional residential space, and upper-floor renovation gives the asset multiple operating components within a downtown setting.

Key Highlights

• Approximately 33,612 SF mixed‑use property built in 1910
• Four glass‑front retail spaces; 100% occupied
• 10 apartment spaces; 100% occupied

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$397,042

Cap Rate

8.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$7,940,840 $7.9M

Cap Rate 7%

$5,672,029 $5.7M

Cap Rate 9%

$4,411,578 $4.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 33,612 SF

Gross rent

$705.9K $21.00/SF

− Vacancy

−$70.6K −$2.10/SF

EGI

$635.3K $18.90/SF

− OpEx

−$238.2K −$7.09/SF

NOI

$397.0K $11.81/SF

Area

Linn County, OR

Vacancy

10.00%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$7,940,840

Cap Rate 7%

$5,672,029

Cap Rate 9%

$4,411,578

Alternative Uses

Best Use

Retail

$7.38M

$6.46M – $8.61M (±1% cap)

NOI $516,458 @ 7.0% cap · market cap 10.87%

Second Best

Mixed Use

$5.67M

$4.96M – $6.62M (±1% cap)

NOI $397,042 @ 7.0% cap · market cap 8.36%

Theoretical Best

Office A

$9.79M

$8.57M – $11.42M (±1% cap)

NOI $685,427 @ 7.0% cap · market cap 14.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Colette Bakery & Bistro Bakery Le Cirque Cafe ... Cafe & Coffee Shop

Suggested Use

Top Pick Law Firm HVAC Service Electrical Service Real Estate Agency Auto Parts Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

10

Residential units

Location Intelligence

Trade Area within ½ mile

745

Businesses Nearby

Explore this area Business Placement

Demographics for 97355, OR

32,413

Population

13,623

Households

2.4

Avg Household Size

41

Median Age

18%

College-Educated

91%

High-School Grad

214.3 sq mi

ZIP Area

151

Density / Sq Mi

$64,307

Median Household Income

$39,934

Median Earnings

$1,267

Median Rent

$332,700

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Downtown asset combines occupied retail and apartment components with upper-floor renovation underway.

Where is this mixed-use property located?

The property is located at 661 S Main St Lebanon, OR.

What is the asking price?

The asking price for this property is $4,750,000.

What are key features of this property?

This property features: Approximately 33,612 SF mixed‑use property built in 1910; Four glass‑front retail spaces; 100% occupied; 10 apartment spaces; 100% occupied