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    Property profile & analytics

    1605 Madison Ave La Grande, OR 97850

    • Residential income homes
    • 983 SF
    • 0.25 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-1088641
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 1605 Madison Ave

    Year built
    1915
    Lot size
    0.25 lot acres
    Property size
    983 SF
    Property type
    Residential income homes

    Description

    This unique 983-square-foot mixed-use property in La Grande, Oregon, presents a compelling investment opportunity. Located at 1605 Madison Ave, this 0.25-acre lot features a 1915-built house with two bedrooms and one bathroom. The home boasts high ceilings and a spacious living room, offering comfortable living space. However, the true potential lies in its permitted industrial zoning. This allows for a variety of uses beyond residential, making it ideal for a live-work arrangement or a complete conversion to a light industrial space. The existing plumbing is already in place for a potential half-bathroom addition, adding further flexibility. The property's size and zoning create a rare blend of residential comfort and commercial versatility. The asking price is $199,000. This presents a chance to capitalize on the unique combination of a charming home and flexible industrial zoning in a desirable Oregon location. The property's history and existing structure provide a solid foundation for a variety of future uses, limited only by the buyer's imagination. Don't miss this chance to acquire a property with significant upside potential in a growing community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    La Grande
    County
    Union
    State
    Oregon
    Longitude
    -118.0867472
    Latitude
    45.3266866

    Comparable in this City

    • $775,000
      1.46 Acres

      La Grande Investment Opportunity

      Large lot, vacant building, redevelopment potential.
      103 Adams Ave, La Grande, OR 97850
      View Details
    • $260,000
      9.75 Acres

      Buildable Land with Mountain Views

      Two buildable lots with scenic views in LaGrande, Oregon.
      123 Lagrande, La Grande, OR 97850
      View Details
    • $550,000
      1.80 Acres

      Prime Commercial Lot Opportunity

      1.8-acre commercial lot with high visibility and access.
      Walton Rd, Island City, OR 97850
      View Details
    • $1,150,000
      280.20 Acres

      Perry Mill Ranch: Prime Hunting Land

      280 Acres, Blue Mountains, Oregon
      62153 Mathson Rd, La Grande, OR 97850
      View Details
    • $389,000
      1,188 SF

      La Grande Home with Shop

      Three-bedroom home on a spacious lot with a large shop.
      2802 N 3Rd St, La Grande, OR 97850
      View Details
    • $425,000
      9.34 Acres

      LaGrande Land with Subdivision Potential

      9.34 acres with subdivision potential and utility access.
      Tax Id 19400, La Grande, OR 97850
      View Details

    Similar Nearby for Sale

    • $775,000
      1.46 Acres

      La Grande Investment Opportunity

      Large lot, vacant building, redevelopment potential.
      103 Adams Ave, La Grande, OR 97850
      View Details
    • $260,000
      9.75 Acres

      Buildable Land with Mountain Views

      Two buildable lots with scenic views in LaGrande, Oregon.
      123 Lagrande, La Grande, OR 97850
      View Details
    • $550,000
      1.80 Acres

      Prime Commercial Lot Opportunity

      1.8-acre commercial lot with high visibility and access.
      Walton Rd, Island City, OR 97850
      View Details
    • $389,000
      1,188 SF

      La Grande Home with Shop

      Three-bedroom home on a spacious lot with a large shop.
      2802 N 3Rd St, La Grande, OR 97850
      View Details
    • $425,000
      9.34 Acres

      LaGrande Land with Subdivision Potential

      9.34 acres with subdivision potential and utility access.
      Tax Id 19400, La Grande, OR 97850
      View Details
    • $1,150,000
      280.20 Acres

      Perry Mill Ranch: Prime Hunting Land

      280 Acres, Blue Mountains, Oregon
      62153 Mathson Rd, La Grande, OR 97850
      View Details
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    1605 Madison Ave
    La Grande, OR 97850
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    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
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