Standalone Three-Suite Office
For Sale
Contact for pricing
690 E 18TH AVE, Eugene, OR 97401
GO-zoned office property with existing leases and a multi-room interior layout.
Property Size3,135 SF
Price / SF$261.56
Days on Market49
Property Features for 690 E 18TH AVE
General Information
Standard status
Active
Size
3,135 SF
Class
B
Total Parking Spaces
14
Property subtype
Office
Zoning
GO
Investment Type
Owner/User
Additional Details
Office Units
3
Building Details
Year Built
1964
Year Renovated
2019
Buildings
1
Units
3
Tenancy
Multi
Building Size
3,135 SF
Listing Agency:
Pacwest Commercial Real Estate
Listed By:
Rene' Nelson, CCIM · License #OR 890500024
Source:
Crexi
Added: Jul 16
Changed: Sep 2
Last Checked: Sep 1 at 6:19PM
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 Pacwest Commercial Real Estate
Investment Insights
Based on property information with market context.
This freestanding office property provides 3,135 square feet arranged among three separate suites. The interior includes 16 offices and three shared restrooms, while 14 on-site parking spaces support daily operations. Constructed in 1964, the building is offered as one complete asset rather than as individual suites.
The property is zoned GO and currently has leases in place. Two suite leases run through 12/31/2026, while the remaining suite is leased month-to-month. The existing occupancy and suite configuration provide a defined structure for an owner-user or continued leasing strategy.
The property is zoned GO and currently has leases in place. Two suite leases run through 12/31/2026, while the remaining suite is leased month-to-month. The existing occupancy and suite configuration provide a defined structure for an owner-user or continued leasing strategy.
Key Highlights
- 3,135 SF standalone office building
- Three individual suites with 16 offices
- 14 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,966
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$959,320
$959.3K
Cap Rate 7%
$685,229
$685.2K
Cap Rate 9%
$532,956
$533.0K
Market Conditions
NOI Build-Up for 3,135 SF
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.
Gross rent
$75.2K $24.00/SF
− Vacancy
−$11.3K −$3.60/SF
EGI
$64.0K $20.40/SF
− OpEx
−$16.0K −$5.10/SF
NOI
$48.0K $15.30/SF
Area
Eugene, OR
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$959,320
Cap Rate 7%
$685,229
Cap Rate 9%
$532,956
Alternative Uses
Best Use
Office B
$685.2K
$599.6K – $799.4K
NOI $47,966 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$945.9K
$827.6K – $1.10M
NOI $66,211 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
3,582
Businesses Nearby
Explore this area
Business Placement
Demographics for 97401, OR
45,634
Population
24,220
Households
1.9
Avg Household Size
32
Median Age
47%
College-Educated
96%
High-School Grad
9.3 sq mi
ZIP Area
4,907
Density / Sq Mi
$51,244
Median Household Income
$26,604
Median Earnings
$1,318
Median Rent
$472,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - GO-zoned office property with existing leases and a multi-room interior layout.
Where is this office building located?
The property is located at 690 E 18TH AVE Eugene, OR.
What is the asking price?
The asking price for this property is $820,000.
What are key features of this property?
This property features: 3,135 SF standalone office building; Three individual suites with 16 offices; 14 on‑site parking spaces
