Building Details

Year built 1902

Listing Agency: Keller Williams Realty Eugene and Springfield k***@kw.com Show Phone

Listed By: Stephanie Tegge Show Phone

Added: Jul 23 Changed: Aug 25 Last Checked: Aug 25 at 12:06PM

Report an Issue

MLS# 150595047

Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 2,800-square-foot commercial building was constructed in 1902 and formerly operated as an automotive service shop. The interior includes a bathroom along with a distinct room suitable for office or storage use. Its configuration may accommodate a live/work arrangement, subject to verification of permitted uses with the local jurisdiction.

The property occupies the corner of Central Rd. and Territorial Hwy. in Veneta, providing direct highway access and a prominent corner position. Dual RC/RR2 zoning is in place, with permitted uses requiring confirmation from local authorities.

Key Highlights

• 2,800‑square‑foot commercial building
• Former automotive service shop configuration
• Dual RC/RR2 zoning

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

$16,899

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

6.50%

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%

$337,980 $338.0K

Cap Rate 7%

$241,414 $241.4K

Cap Rate 9%

$187,767 $187.8K

Market Conditions

NOI Build-Up for 2,800 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

$25.2K $9.00/SF

− Vacancy

−$1.1K −$0.38/SF

EGI

$24.1K $8.62/SF

− OpEx

−$7.2K −$2.59/SF

NOI

$16.9K $6.04/SF

Area

Lane County, OR

Vacancy

4.20%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

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%

$337,980

Cap Rate 7%

$241,414

Cap Rate 9%

$187,767

Alternative Uses

Best Use

Office B

$554.1K

$484.9K – $646.5K (±1% cap)

NOI $38,788 @ 7.0% cap · market cap 14.92%

Second Best

Retail

$512.8K

$448.7K – $598.3K (±1% cap)

NOI $35,897 @ 7.0% cap · market cap 13.81%

Theoretical Best

Office A

$708.4K

$619.8K – $826.4K (±1% cap)

NOI $49,586 @ 7.0% cap · market cap 19.07%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Auto shops

Suggested Use

Top Pick Pharmacy Auto Repair Shop Daycare Center Cosmetic Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

19

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 97487, OR

9,286

Population

4,038

Households

2.3

Avg Household Size

44

Median Age

17%

College-Educated

93%

High-School Grad

72.8 sq mi

ZIP Area

128

Density / Sq Mi

$64,973

Median Household Income

$43,030

Median Earnings

$1,412

Median Rent

$334,300

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar For Sale Nearby

Corner Automotive Service Building

86065 Territorial Hwy, Veneta, OR 97487

$260,000

View details

Specialty Property for Sale

87991 TERRITORIAL RD, Veneta, OR 97487

$777,000

View details

2022 Duplex With Private Garages

88558 JAMESON Way, Veneta, OR 97487

$699,000

2,616 SF

View details

Cannabis Retail Assets

Highway 126, Veneta, OR 97487

$300,000

View details

Veneta Office Space For Rent

25045 Dunham Ave, Veneta, OR

Contact for pricing

3,711 SF

View details

Similar Off Market Nearby

• Original Glass Tinter Custom Automotive Window Tinting — 25226 Vaughn Rd, Veneta, OR 97487
• Bloom's Automania — 25275 Vaughn Rd, Veneta, OR 97487

Frequently Asked Questions

What type of property is this?

Auto shop - The building includes dual RC/RR2 zoning, a bathroom, and a separate office or storage room.

Where is this auto shop located?

The property is located at 86065 TERRITORIAL Hwy Veneta, OR.

What is the asking price?

The asking price for this property is $260,000.

What are key features of this property?

This property features: 2,800‑square‑foot commercial building; Former automotive service shop configuration; Dual RC/RR2 zoning