Fenced Outdoor Restaurant
For Sale
$940,000
770 S Bertelsen Rd, Eugene, OR 97402
Restaurant building with a dedicated outdoor area, substantial parking, and billboard signage generating additional income.
Property Size2,750 SF
Lot Size0.54 Acres
Price / SF$341.82
Days on Market17
Property Features for 770 S Bertelsen Rd
General Information
Standard status
Active
Size
2,750 SF
Lot size
0.54 Acres
Amenities
Fully fenced outdoor area
Billboard sign
Building Details
Year Built
1960
Buildings
1
Listing Agency:
RE/MAX Integrity
(541) 345-8100
Listed By:
David Smid · License #200404377
Source:
Wisser
Added: Aug 12
Changed: Aug 28
Last Checked: Aug 28 at 12:39PM
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 RE/MAX Integrity
Investment Insights
Based on property information with market context.
This restaurant property includes a 2,750-square-foot building on a 0.54-acre parcel. The improvements feature a fully enclosed outdoor area, while the site provides substantial parking for customer and operational needs. The offering consists of the real estate only, with no business assets identified.
Located at 770 S Bertelsen Rd in Eugene, Oregon, the property also includes a billboard sign that produces additional income. Built in 1960, the site combines an established restaurant building with outdoor space, parking, and supplemental signage revenue.
Located at 770 S Bertelsen Rd in Eugene, Oregon, the property also includes a billboard sign that produces additional income. Built in 1960, the site combines an established restaurant building with outdoor space, parking, and supplemental signage revenue.
Key Highlights
- 2,750‑square‑foot restaurant building on a 0.54‑acre lot
- Fully fenced outdoor area
- Substantial on‑site parking
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
$45,379
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
4.83%
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%
$907,580
$907.6K
Cap Rate 7%
$648,271
$648.3K
Cap Rate 9%
$504,211
$504.2K
Market Conditions
NOI Build-Up for 2,750 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
$62.7K $22.80/SF
− Vacancy
−$2.2K −$0.80/SF
EGI
$60.5K $22.00/SF
− OpEx
−$15.1K −$5.50/SF
NOI
$45.4K $16.50/SF
Area
Eugene, OR
Vacancy
3.50%
Lease Rate
$22.80 /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%
$907,580
Cap Rate 7%
$648,271
Cap Rate 9%
$504,211
Alternative Uses
Best Use
Specialty Retail
$648.3K
$567.2K – $756.3K
NOI $45,379 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$829.7K
$726.0K – $968.0K
NOI $58,080 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97402, OR
56,610
Population
23,882
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
91%
High-School Grad
68.6 sq mi
ZIP Area
825
Density / Sq Mi
$55,743
Median Household Income
$35,728
Median Earnings
$1,287
Median Rent
$330,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant building with a dedicated outdoor area, substantial parking, and billboard signage generating additional income.
Where is this conventional restaurant located?
The property is located at 770 S Bertelsen Rd Eugene, OR.
What is the asking price?
The asking price for this property is $940,000.
What are key features of this property?
This property features: 2,750‑square‑foot restaurant building on a 0.54‑acre lot; Fully fenced outdoor area; Substantial on‑site parking
