661 S Main St, Lebanon, OR 97355
COMMERCIAL - Lebanon, OR
- Added:
- Apr 2, 2026
- Days on Market:
- 87
- Last Refresh:
- Jun 27 at 10:06 am
Property Features for 661 S Main St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- CBC
- Standard status
- Active
- Size
- 27,764 SF
- Lot size
- 0.87 Acres
Building Details
- Year built
- 1910
- Roof type
- Other
Listing agent LAURA GILLOTT License #920300248 (541) 451-2211
Listing office KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM 266 E GRANT ST, Corvallis, OR (541) 738-7770
Listing date Apr 2, 2026
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Potential for 60+ hotel/apartment spaces upon renovation completion.
- Includes a 0.37‑acre off‑street parking lot.
- Four fully occupied ground‑floor retail spaces.
- New membrane roof installed in 2020.
- Electrical and plumbing upgrades throughout the building.
- Ten apartment spaces are 100% occupied.
Overview
The property is located at 661 S Main St in Lebanon, Oregon, within Linn County, and is zoned CBC. A 0.37-acre off-street parking lot is included as part of the offering.
For buyers and operators seeking a mixed-use hospitality and residential asset, this structure provides immediate income from stabilized retail and apartment components while the upper floors are being renovated for additional lodging or residential use. The combination of in-place occupancy below and ongoing improvements supports a practical path for tenants, owners, or investors looking to manage both retail and multifamily/hospitality operations within a single property.
Local Financial Insights For Retail
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 | $896.2k | $32.28 |
| − Vacancy | −$286.8k | −$10.33 |
| EGI | $609.4k | $21.95 |
| − OpEx | −$182.8k | −$6.59 |
| NOI | $426.6k | $15.37 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lebanon
- County
- Linn
- State
- Oregon
- Longitude
- -122.9068433
- Latitude
- 44.539576
