Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    48 48Th St Springfield, OR 97478
    Back to Search
    Property profile & analytics

    48 48Th St, Springfield, OR 97478

    View on Map
    • Land
    • 1.26 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 48 48Th St

    Lot size
    1.26 lot acres
    Property type
    Land

    Description

    This exceptional 1.26-acre parcel, located at the intersection of 48th and Main Street in Springfield, Oregon, presents a unique investment opportunity. Zoned MUR (Mixed-Use Residential), this property offers significant development potential. The lot encompasses approximately 53,521 square feet, providing ample space for a variety of commercial and residential projects. Its strategic location offers excellent visibility and accessibility. A key advantage is its proximity to the soon-to-be-completed Cherry Springs Apartments, a 129-unit complex under construction along 48th Street. This burgeoning neighborhood promises increased foot traffic and a growing residential population, creating a strong foundation for future development. The property is situated in Lane County, Oregon, with a 97478 zip code. The asking price for this exceptional land parcel is $540,000. This represents a compelling opportunity to capitalize on the growth and potential of this vibrant Springfield location. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Lane
    State
    Oregon
    Longitude
    -122.95
    Latitude
    44.0457

    Comparable in this City

    • Value Estimation by Request

      2700 Pierce Pkwy

      Retail properties & Spaces
      2700 Pierce Pkwy, Springfield, OR 97478
      View Details
    • Value Estimation by Request
      68.00 Acres

      Oregon Ave

      Land
      0 Oregon Ave, Springfield, OR 97478
      View Details
    • Value Estimation by Request
      1.65 Acres

      Springfield, OR 97478

      MOBILE HOME PARK, TRAILER PARK
      Springfield, OR 97478
      View Details
    • Value Estimation by Request
      8.08 Acres

      4475 Daisy St

      MOBILE HOME PARK, TRAILER PARK
      4475 Daisy St, Springfield, OR 97478-6681
      View Details
    • Value Estimation
      $1,600,000
      3.70 Acres

      7080 Thurston Rd Spc, Unit 1

      MOBILE HOME PARK, TRAILER PARK
      7080 Thurston Rd Spc, Springfield, OR 97478-7283
      View Details
    • Value Estimation by Request
      7.62 Acres

      658 57th St

      MOBILE HOME PARK, TRAILER PARK
      658 57th St, Springfield, OR 97478-5436
      View Details

    Similar Nearby for Sale

    • $499,000
      55.72 Acres

      55.72 Acres of Timberland

      Secluded timberland tract northwest of Eugene/Springfield. Not buildable.
      Boiler Creek Rd, Springfield, OR 97478
      View Details
    • Contact for pricing

      30.77 Acres of Level Land

      30.77 acres of level land near Thurston Elementary School.
      7486 B St, Springfield, OR 97478
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale in Springfield, Oregon.
      Oregon Ave, Springfield, OR 97478
      View Details
    • Contact for pricing
      3,107 SF

      Spacious Duplex with Modern Conveniences

      Well-designed duplex featuring modern amenities and functional living spaces.
      1171 S 43Rd Pl, Springfield, OR 97478
      View Details
    • Contact for pricing
      3,107 SF

      Spacious Duplex with Modern Amenities

      Well-designed duplex featuring modern conveniences and functional living spaces.
      1157 S 43Rd Pl, Springfield, OR 97478
      View Details
    • Contact for pricing
      1,646 SF

      Springfield Duplex Near Tyson Park

      Well-maintained 1646 sqft duplex with fenced yards and garages.
      3542 E St, Springfield, OR 97478
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,660 SF

      Flex Space with Fenced Yard

      Flex space featuring showroom, office, and loading doors.
      697 S 34Th St, Springfield, OR 97478
      View Details
    • Contact for pricing
      3,200 SF

      Springfield Retail Space Available

      Retail property available for lease in Springfield, Oregon.
      5414-5415 Main St, Springfield, OR 97478
      View Details
    • Contact for pricing
      11,546 SF

      Springfield Flex Space For Rent

      Flex space and industrial property available for lease in Springfield.
      3400 Main St, Springfield, OR 97478
      View Details
    • Contact for pricing

      Springfield Shopping Center Retail Space

      Retail spaces available in a busy Springfield shopping center.
      4223 Main St, Springfield, OR 97478
      View Details
    • Contact for pricing
      3,300 SF

      Springfield Warehouse Space Available

      3,300 SF warehouse space for lease in Springfield, Oregon.
      630 30Th St, Springfield, OR 97478
      View Details
    • Contact for pricing
      17,000 SF

      Industrial Space Available For Lease

      17,000 SF industrial space available for lease.
      1319 36Th St, Springfield, OR 97478
      View Details
    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.
    48 48Th St
    Springfield, OR 97478
    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
    48 48Th St, Springfield, OR, 97478
    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!