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

    950 Seneca Rd, Eugene, OR 97402

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    6,000 SF restaurant on 0.84 acres in Eugene, Oregon.

    Type:Retail
    Property size:
    6,000 SF
    Lot size:
    0.84 Acres
    Price / SF:
    $291/SF
    Added:
    May 25, 2022
    Days on Market:
    1464
    Last Refresh:
    May 19 at 8:39 pm

    Property Features for 950 Seneca Rd

    General Information

    Standard status
    Active
    Size
    6,000 SF
    Lot size
    0.84 Acres
    Property subtype
    Retail

    We can help!

    Listing Contact
    Tim Campbell

    Listing agent Tim Campbell License #OR 950100171

    Listing office Campbell Commercial Real Estate

    Listing date May 25, 2022

    Source Crexi

    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 Campbell Commercial Real Estate

    HighLights

    • Stand‑alone 6,000 SF restaurant building.
    • Located on 0.84 acres in the Fred Meyer parking lot.
    • High traffic location at a signalized intersection (±32,070/day).
    • Existing hood system.
    • Existing pizza ovens.
    • Former Izzy’s Pizza restaurant.

    Overview

    This is a 6,000 square foot stand-alone restaurant building situated on 0.84 acres. The property is located within the Fred Meyer parking lot, at the signalized intersection of W. 11th Avenue and Seneca Road, which experiences a combined traffic count of approximately 32,070 vehicles per day. Formerly an Izzy’s Pizza restaurant, the building includes an existing hood system and pizza ovens.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $1.10M
    NOI $99,009 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.41M
    NOI $99,009 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.98M
    NOI $99,009 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $136.8k $22.80
    − Vacancy −$4.8k −$0.80
    EGI $132.0k $22.00
    − OpEx −$33.0k −$5.50
    NOI $99.0k $16.50
    6,000 SF · lease $22.80/SF/yr · vacancy 3.50% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $1.41M
    $1.24M – $1.65M (±1% cap)
    NOI $99,009 @ 7.0% cap · market cap 5.66%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.81M
    $1.58M – $2.11M (±1% cap)
    NOI $126,720 @ 7.0% cap · market cap 7.24%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Eugene
    County
    Lane
    State
    Oregon
    Longitude
    -123.1411798
    Latitude
    44.0500405

    Nearby Similar for Sale

    • $550,000

      Turnkey Cultivation Facility in Eugene

      8100 SF OLCC-licensed indoor cultivation facility for sale.
      620 Seneca Road, Eugene, OR 97402
      View Details
    • $540,000
      2,480 SF

      Updated Duplex in Eugene, Oregon

      Updated duplex with private yards near West University and Friendly.
      623 W 18TH Ave, Eugene, OR 97402
      View Details
    • $599,900
      2,682 SF

      Two Homes on One Lot

      Dual-home setup with rental income and development potential.
      1445 W 11TH Ave, Eugene, OR 97402
      View Details
    • $1,500,000
      4,541 SF

      Two Homes on Park-Like Acre

      Two homes on one acre, ideal for multi-generational living.
      2011 RIVER LOOP 1, Eugene, OR 97404
      View Details
    • $775,000

      Modern Duplex in Eugene, Oregon

      Efficient, low-maintenance 2021 duplex with high-end finishes.
      2519 JUSTINE Ln, Eugene, OR 97404
      View Details
    • $715,500
      2,708 SF

      Corner-Lot Duplex in Lake Shore

      Duplex with flexible living options and community amenities.
      2063 LAKE WIND Dr, Eugene, OR 97408
      View Details
    • $2,195,000

      Three Prime Eugene Duplexes

      Three duplexes in Eugene, Oregon with cash flow potential.
      903 HOWARD Ave, Eugene, OR 97404
      View Details
    • $849,000

      Eugene Multifamily Investment Opportunity

      Six-unit apartment building in the Jefferson Westside Whiteaker Neighborhood.
      527 MONROE St, Eugene, OR 97402
      View Details
    • $609,000
      2,256 SF

      Duplex in Gated Community

      Well-maintained duplex with income potential and community amenities.
      1880 LAKE COVE Ave, Eugene, OR 97408
      View Details
    • $1,800,000
      10,004 SF

      Multi-Tenant Office Building For Sale

      Well-maintained office property in established commercial corridor.
      311-337 Goodpasture Island Road, Eugene, OR 97401
      View Details
    • $1,640,000
      12,824 SF

      Industrial Shop on Fenced Acres

      Industrial shop with heavy power on 2.54 fenced acres.
      29984 Cecil Ave, Eugene, OR 97402
      View Details
    • $475,000
      1,028 SF

      Midtown Office Building For Sale

      Two-story office building near downtown and the University of Oregon.
      1598 Pearl St, Eugene, OR 97401
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - 6,000 SF restaurant on 0.84 acres in Eugene, Oregon.
    Where is this conventional restaurant located?
    The property is located at 950 Seneca Rd Eugene, OR.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: Stand‑alone 6,000 SF restaurant building.; Located on 0.84 acres in the Fred Meyer parking lot.; High traffic location at a signalized intersection (±32,070/day).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tim Campbell
    Real Estate License ID: OR 950100171
    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
    950 Seneca Rd, Eugene, OR 97402
    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!