Victorian Duplex with
For Sale
$650,000
707 NE 5th St, McMinnville, OR 97128
Two independent living areas support residential or office use under O-R zoning.
Property Size1,903 SF
Price / SF$341.03
Days on Market48
Property Features for 707 NE 5th St
General Information
Standard status
Active
Size
1,903 SF
Total Parking Spaces
4
Zoning
O-R
Occupancy
100%
Additional Details
Utilities to Site
Yes
Office Units
1
Building Details
Year Built
1920
Buildings
1
Building Size
1,903 SF
Construction
Victorian
Tenancy
Single
Owner Occupied
No
Listing Agency:
Constant Commercial Real Estate Inc
Listed By:
Cory Carlson · License #201226331
(503) 222-0282
Source:
Evokepropertypartners
Added: Aug 28
Changed: Oct 3
Last Checked: Oct 7 at 1:23PM
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 Constant Commercial Real Estate Inc
Investment Insights
Based on property information with market context.
Built in 1920, this Victorian property retains its turn-of-the-century character while offering a layout that can function as two separate living areas. The 1,903 SF building includes four bedrooms, two baths, two full kitchens, and a fourth bedroom with a wet bar. Four off-street parking spaces serve the property, which occupies a corner lot.
The building is located two blocks from Third Street, the Yamhill County Courthouse, and the Granary District. O-R zoning supports professional office, live-work, duplex, and extended corporate-stay uses of 30 days or more. The entire property is currently leased to one tenant, with the tenant paying all utilities.
The building is located two blocks from Third Street, the Yamhill County Courthouse, and the Granary District. O-R zoning supports professional office, live-work, duplex, and extended corporate-stay uses of 30 days or more. The entire property is currently leased to one tenant, with the tenant paying all utilities.
Key Highlights
- 1,903 SF Victorian building constructed in 1920
- Four bedrooms, two baths, and two full kitchens
- Layout can separate into two independent living areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,702
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,040
$494.0K
Cap Rate 7%
$352,886
$352.9K
Cap Rate 9%
$274,467
$274.5K
Market Conditions
NOI Build-Up for 1,906 SF
Gross rent
$41.2K $21.60/SF
− Vacancy
−$1.6K −$0.86/SF
EGI
$39.5K $20.74/SF
− OpEx
−$14.8K −$7.78/SF
NOI
$24.7K $12.96/SF
Area
Yamhill County, OR
Vacancy
4.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,040
Cap Rate 7%
$352,886
Cap Rate 9%
$274,467
Alternative Uses
Best Use
Mixed Use
$352.9K
$308.8K – $411.7K
NOI $24,702 @ 7.0% cap · market cap 3.80%
Second Best
Office B
$352.5K
$308.4K – $411.2K
NOI $24,673 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$514.5K
$450.2K – $600.2K
NOI $36,013 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,485
Businesses Nearby
Explore this area
Business Placement
Demographics for 97128, OR
38,394
Population
15,291
Households
2.5
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
112.2 sq mi
ZIP Area
342
Density / Sq Mi
$72,055
Median Household Income
$37,427
Median Earnings
$1,295
Median Rent
$419,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two independent living areas support residential or office use under O-R zoning.
Where is this duplex located?
The property is located at 707 NE 5th St McMinnville, OR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1,903 SF Victorian building constructed in 1920; Four bedrooms, two baths, and two full kitchens; Layout can separate into two independent living areas
