Eugene, OR 97401
- Office Properties & Spaces
- 3,200 SF
- 0.07 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details
- Lot size
- 0.07 lot acres
- Property size
- 3,200 SF
- Property type
- Office Properties & Spaces
Description
This exceptional commercial property, located in the heart of Eugene, Oregon, presents a unique investment opportunity. Situated on a 0.07-acre lot at E 14th Street, this 3,200 square foot building is zoned for general commercial use, offering significant flexibility for future development. Its prime location, just two blocks from the University of Oregon campus, ensures high visibility and accessibility. The building currently features two separate one-bedroom, one-bathroom apartments on the second floor, each approximately 689 square feet, currently generating income under month-to-month agreements. The first floor previously functioned as a dental lab, and includes two bathrooms, a kitchen area, and office space. A potential buyer may wish to conduct due diligence to assess the feasibility of converting the first floor back into multi-family residential units. Based on current income projections of $1300 per apartment and $2500 for the office space, the property boasts a projected gross annual income of $61,200, representing a 7.24% capitalization rate. This presents a compelling opportunity for both owner-occupancy and substantial rental income. The property's versatility and strong location make it an ideal investment for discerning buyers seeking a high-return asset in a thriving market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Eugene
- County
- Lane
- State
- Oregon
- Longitude
- -123.091
- Latitude
- 44.0439
