Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Restaurant Building in Bustling Area Title is generated by Realmo AI

    774 MAIN ST, Springfield, OR 97477

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $680,000

    1770 SF restaurant building with drive-through and parking.

    Type:Commercial/Industrial
    Property size:
    1,770 SF
    Lot size:
    0.28 Acres
    Price / SF:
    $384/SF
    Added:
    Mar 24, 2026
    Days on Market:
    59
    Last Refresh:
    Feb 11 at 1:05 pm

    Property Features for 774 MAIN ST

    General Information

    Standard status
    Active
    Size
    1,770 SF
    Lot size
    0.28 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1969

    We can help!

    Listing Contact
    Min Yi Su

    Listing agent Min Yi Su License #201240122

    Listing office United Real Estate Properties

    Listing date Mar 24, 2026

    Source Exitrealty

    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 United Real Estate Properties

    HighLights

    • Prime location in the heart of Springfield's bustling dining scene.
    • Ample parking with 13 spots, a rare and valuable asset in the downtown area.
    • Expansive 1770 sq ft building with 12 ft walls, offering versatile space.
    • Ready‑to‑go drive‑through option adaptable for outdoor dining or additional parking.
    • Newer roof installed in 2019.
    • Owner open to lease with option to purchase, providing flexible acquisition options.

    Overview

    Located in the heart of Springfield's dining scene, this 1770 square foot building at 774 Main St features 12-foot walls and includes 13 parking spots, with potential for additional spaces. The property is suitable for various concepts, including a fine dining restaurant, a bar, or an outdoor patio. The dining/counter area measures approximately 1060 square feet, while the kitchen, storage, and facilities occupy around 710 square feet. A newer roof was installed in 2019. The property includes a drive-through option that can be adapted for outdoor dining or additional parking. It also features two universal restrooms. The owner is open to selling and would consider a lease with the option to purchase.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Subway Take-out & Catering

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Lane
    State
    Oregon
    Longitude
    -123.0155971
    Latitude
    44.0463595

    Nearby Similar for Sale

    • $650,000
      2,680 SF

      New Springfield Duplex Investment Opportunity

      Brand-new duplex with strong rental appeal and modern amenities.
      231/233 S 41ST Pl, Springfield, OR 97478
      View Details
    • $590,000
      2,046 SF

      Updated Multifamily Property with Studio

      Versatile property with updated main home and separate studio.
      2897 Game Farm Rd, Springfield, OR 97477
      View Details
    • $629,000
      3,604 SF

      Springfield Fourplex with Immediate Income

      Four 2-bedroom units, leased, with new roof and parking.
      1194 R St, Springfield, OR 97477
      View Details
    • $629,000
      3,604 SF

      Springfield Fourplex with Immediate Income

      Four 2-bedroom units, leased, with new roof and parking.
      1180 R St, Springfield, OR 97477
      View Details
    • $525,000
      2,268 SF

      Thurston Duplex: Turnkey Income Property

      Well-maintained duplex in Springfield's sought-after Thurston neighborhood.
      215 SMITH Loop, Springfield, OR 97478
      View Details
    • $595,000
      1,750 SF

      Turn-Key Homes in Washburn Neighborhood

      Two homes on one lot, ideal for multi-generational living.
      807 E St, Springfield, OR 97477
      View Details
    • $425,000
      1,646 SF

      Springfield Duplex Near Tyson Park

      Well-maintained 1646 sqft duplex with fenced yards and garages.
      3542 3544 E St, Springfield, OR 97478
      View Details
    • $499,900
      2,145 SF

      Renovated Duplex in Springfield, Oregon

      Fully renovated duplex with strong income potential in convenient location.
      1340/1342 Q St, Springfield, OR 97477
      View Details
    • $425,000
      1,632 SF

      Multifamily Homes in Springfield Historic Neighborhood

      Two separate homes on one city lot in Springfield, Oregon.
      650/656 F St, Springfield, OR 97477
      View Details
    • $959,900
      3,744 SF

      Four-Unit Multifamily Property

      Four turnkey rental units, 100% occupied, in Springfield, Oregon.
      1905 17TH St, Springfield, OR 97477
      View Details
    • $675,000
      3,372 SF

      Updated Fourplex in Springfield, Oregon

      Well-maintained fourplex with recent upgrades and long-term tenants.
      5495 A Units 69,70,71,72 St, Springfield, OR 97478
      View Details
    • $295,000
      544 SF

      Springfield Multifamily Investment Opportunity

      Multifamily property with upside potential in Springfield, Oregon.
      1566 LAURA St, Springfield, OR 97477
      View Details

    FAQs

    What type of property is this?
    Restaurant - 1770 SF restaurant building with drive-through and parking.
    Where is this restaurant located?
    The property is located at 774 MAIN ST Springfield, OR.
    What is the asking price?
    The asking price for this property is $680,000.
    What are key features of this property?
    This property features: Prime location in the heart of Springfield's bustling dining scene.; Ample parking with 13 spots, a rare and valuable asset in the downtown area.; Expansive 1770 sq ft building with 12 ft walls, offering versatile space.
    (541) 525-9060
    We can help!
    Listing Contact
    Min Yi Su
    Real Estate License ID: 201240122
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    774 MAIN ST, Springfield, OR 97477
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!