190 8th Ave Eugene, OR 97401-2940

Property Details for 190 8th Ave

Lot size

0.59 lot acres

Zone code

C-3-MAJOR COMMERCIAL

Property type

Commercial real estate

APN

17-03-31-13-06800-000

APU

1703311306800000

Description

This Class A, multi-tenant shopping center at 190 W 8th Ave, Eugene, OR 97401, presents a compelling investment or owner-user opportunity. The 106,000 square foot building, situated on a 1.18-acre lot in Lane County, boasts a prominent downtown location and offers 60 parking spaces. Currently at 40% occupancy, this four-story structure, built in 1954 and zoned C-3 (Major Commercial), presents significant upside. Each floor comprises approximately 25,600 square feet, providing ample space for various uses. The existing surface parking lot offers potential for future development, adding further value. The asking price is $10,000,000, translating to $94.34 per square foot. The gross lease structure and the scarcity of comparable large-space office buildings in Eugene make this a rare and attractive proposition for businesses seeking significant square footage in a prime downtown location. The property's history includes tenancies by notable businesses such as Enterprise Rent-A-Car, Harry and David, and ISTE, and currently houses the City of Eugene Public Works. This presents a unique chance to acquire a well-located asset with substantial redevelopment potential at a price point below current replacement cost. The APN is 17-03-31-13-06800, 17-03-31-13-06900.