Eugene Retail Building with
For Sale
Contact for pricing
1450 High St, Eugene, OR 97401
8,201 SF building with double drive-thru on 34,413 SF lot.
Property Size8,201 SF
Lot Size0.79 Acres
Price / SF$390.20
Days on Market883
Property Features for 1450 High St
General Information
Standard status
Active
Size
8,201 SF
Total Parking Spaces
40
Lot size
0.79 Acres
Property subtype
Retail
Zoning
GO | General Office
Building Details
Year Built
1971
Buildings
1
Stories
1
Listing Agency:
Evans, Elder Brown & Seubert
(541) 345-4860
Listed By:
Jeff Elder · License #OR
Source:
Crexi
Added: Mar 21, 2024
Changed: Aug 8
Last Checked: Aug 19 at 2:39PM
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 Evans, Elder Brown & Seubert
Investment Insights
Based on property information with market context.
The property is an 8,201-square-foot building situated on a 34,413-square-foot site. Constructed in 1971, the building is zoned General Office (GO) and features a double drive-thru and 40 parking stalls. Pylon monument signage is present. The surrounding area includes residential housing, mainly college housing with single-family and multi-family apartments, along with a 7-Eleven, The Barber Shop, Vero Espresso, Toshi’s Ramen, Falling Sky Brewing, The Bier Stein, McMenamins High Street Brewery & Café, and Safeway. The University of Oregon campus and PeaceHealth Sacred Heart Medical Center are also nearby. The location has a Walk Score of 97, indicating it is a walker's paradise.
Key Highlights
- Double Drive‑Thru
- High Street Location with High Walk Score (97)
- 40 Parking Stalls
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
$135,329
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
4.23%
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%
$2,706,580
$2.7M
Cap Rate 7%
$1,933,271
$1.9M
Cap Rate 9%
$1,503,656
$1.5M
Market Conditions
NOI Build-Up for 8,201 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
$187.0K $22.80/SF
− Vacancy
−$6.5K −$0.80/SF
EGI
$180.4K $22.00/SF
− OpEx
−$45.1K −$5.50/SF
NOI
$135.3K $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%
$2,706,580
Cap Rate 7%
$1,933,271
Cap Rate 9%
$1,503,656
Alternative Uses
Best Use
Specialty Retail
$1.93M
$1.69M – $2.26M
NOI $135,329 @ 7.0% cap · market cap 4.23%
Second Best
Retail
$1.70M
$1.49M – $1.98M
NOI $119,039 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$2.47M
$2.17M – $2.89M
NOI $173,205 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,468
Businesses Nearby
208k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 40%
Dining 32%
Shops & Services 26%
Apparel 2%
Safeway
Groceries
45,725 visits/mo
0.3 miles
Whole Foods Market
Groceries
37,129 visits/mo
0.4 miles
McDonald's
Dining
29,905 visits/mo
0.4 miles
Chase Bank
Shops & Services
9,867 visits/mo
0.3 miles
7-Eleven
Shops & Services
8,853 visits/mo
0.4 miles
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - 8,201 SF building with double drive-thru on 34,413 SF lot.
Where is this retail property located?
The property is located at 1450 High St Eugene, OR.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Double Drive‑Thru; High Street Location with **High Walk Score (97)**; 40 Parking Stalls
