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    220 6Th Ave SW Albany, OR 97321

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    220 6Th Ave SW Albany, OR 97321

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    • Office properties & Spaces
    • 10,854 SF
    • 0.34 lot acres
    For Sale
    $1,649,000
    View Listing →
    Downtown Albany Brick Office Building For Sale
    $1,649,000
    10,840 SF

    Downtown Albany Brick Office Building

    Updated, fully occupied office building in downtown Albany, Oregon.

    220 6th Ave SW, Albany, OR 97321
    View Listing
    Property ID
    US71-1007660
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tammi Austin with Platinum Mortgage / Loan Service / Bank
    • L. Sager-Kottre / Law Firm
    • Detox Partners / Counselor / Mental Health Service
    • Ticor Title / Title Company / Escrow Service
    • Platinum Mortgage - Albany / Loan Service / Bank

    Property Details for 220 6Th Ave SW

    Year built
    1998
    Lot size
    0.34 lot acres
    Property size
    10,854 SF
    Property type
    Office properties & Spaces
    APN
    11S 03W 07BB 09700
    APU
    11S03W07BB09700

    Description

    This exceptional three-story office building, located at 220 6th Avenue SW in Albany, Oregon, presents a compelling investment opportunity. Boasting 10,840 square feet of space, with 8,349 square feet of net rentable area, the property is currently 100% occupied, offering immediate cash flow. Built in 1998, this stabilized investment features a gorgeous brick exterior and is situated on a 14,891 square foot lot. The building is fully handicap accessible, including a ramp and accessible restrooms, and offers the convenience of over 20 on-site concrete paved parking spaces. Modern amenities include a comfortable HVAC system throughout all three floors and an elevator for easy access to all levels. The property is zoned Albany-LE and features a recently updated interior. The asking price for this turnkey executive office building is $1,649,000. This prime downtown Albany location provides excellent visibility and accessibility. The property's strong occupancy rate and desirable features make it an ideal investment for discerning buyers seeking a stable and profitable commercial real estate asset. The Linn County location and convenient access to amenities further enhance its appeal.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,482,000
      Market price range: $786k - $2.48M
      AI Estimate
      $2,482,000
      Market price range: $786k - $2.48M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,700,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,625,000
      Change: +54% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Linn
    State
    Oregon
    Longitude
    -123.106
    Latitude
    44.6331
    CBSA code
    10540
    CBSA name
    ALBANY-LEBANON, OR MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $23,395
    $0.00
    $0.00
    $1,174,600
    -
    $319,020
    $1,740,520
    $2,059,540

    Comparable in this City

    • Value Estimation by Request
      2,282 SF

      410 1st SE Ave

      OFFICE (GENERAL) • 2,282 SF
      410 1st SE Ave, Albany, OR 97321-2740
      View Details
    • Value Estimation
      $1,985,000
      27,400 SF

      304 3rd SE Ave

      OFFICE (GENERAL) • 27,400 SF
      304 3rd SE Ave, Albany, OR 97321
      View Details
    • Value Estimation
      $860,000
      4,356 SF

      135 5th SE Ave

      OFFICE (GENERAL) • 4,356 SF
      135 5th SE Ave, Albany, OR 97321
      View Details
    • Value Estimation
      $3,745,000
      16,375 SF

      2225 Pacific SE Blvd

      OFFICE (GENERAL) • 16,375 SF
      2225 Pacific SE Blvd, Albany, OR 97321-7907
      View Details
    • Value Estimation
      $1,665,000
      7,274 SF

      1224 Santiam SE Hwy

      OFFICE (GENERAL) • 7,274 SF
      1224 Santiam SE Hwy, Albany, OR 97321-3157
      View Details
    • Value Estimation by Request
      0.16 Acres

      Albany, OR 97321

      OFFICE (GENERAL) • 0.16 Acres
      Albany, OR 97321
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,840 SF

      Downtown Albany Brick Office Building

      Updated, fully occupied office building in downtown Albany, Oregon.
      220 6Th Ave SW, Albany, OR 97321
      View Details
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      2,955 SF

      Historic Albany Building For Sale

      2,955 SF brick building in Albany's Historic Downtown.
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      Mixed-Use Property in Downtown Albany

      Multi-tenant office, retail, and residential mix in downtown Albany.
      418 E 1St Ave, Albany, OR 97321
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      High Visibility Retail/Office Space

      8,000+ SF retail/office on corner lot in Albany.
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      Versatile Albany Commercial Property For Sale

      6.84 acres with 46,287 SF across seven buildings.
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      High Visibility Retail/Office Space

      8,000+ SF retail/office space on corner lot for sale.
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    Similar Nearby for Lease

    • Contact for pricing
      3,855 SF

      Class B Office Space Available

      3,855 RSF office space for rent, ample parking.
      804-808 Old Salem Rd NE, Albany, OR 97321
      View Details
    • Contact for pricing
      842 SF

      Retail Suites in Heritage Plaza

      Retail/office suites available in well-located Albany shopping center.
      2306 Heritage Way SE, Albany, OR 97321
      View Details
    • Contact for pricing
      1,984 SF

      Retail Space in Albany, Oregon

      Retail space available for lease in Albany, Oregon.
      320 Ellsworth St SW, Albany, OR 97321
      View Details
    • Contact for pricing

      Warehouse Spaces Near Highway 34

      Two warehouse spaces available between Corvallis and I-5.
      33976 Texas St SW, Albany, OR 97321
      View Details
    View Listing
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    220 6Th Ave SW
    Albany, OR 97321
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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.

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    220 6Th Ave SW, Albany, OR, 97321

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