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Financial
Distress signals
Property profile

229 N First St Drain, OR 97435

FOR SALE
Banks
Property ID
US71-0605571
2,340 SF 0.2 ac lot Built 1948
Entity Owned Owner of record is a legal entity (LLC / corporation). Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

The property is a former bank building configured for potential office or retail use, located on a corner lot. It includes extensive onsite parking and a drive-up window for customer service access. The interior layout features main-level space suitable for office or retail, along with an upstairs support area that contains a break room (with a refrigerator), a restroom, and substantial storage. The building is situated in Drain’s business district, and the corner positioning with parking supports both customer and employee access.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$3k
Tax billed · 2023
Assessed value$253k
Effective rate1.19%

Value estimate

· Oct 2026
$400k
$360k – $440k
NOI build-up
Gross scheduled income$48k
Vacancy & credit loss−$8k
Operating expenses−$10k
NOI · 16.57% cap applied$30k

Realmo valuation models over county records.

Recently sold

No data for this section
What actually traded nearby?

No cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.

Cap rate analysis

How does the asset earn?
16.57%
$30k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionDOUGLAS

Location intelligence

Which uses thrive at this corner?
Best fit: Plumbing Service
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Plumbing Service8.6
Building Supply8.2
Auto Parts Store8.1

Location

229 N First St Drain, OR 97435
County assessor Recorded deeds · not on file Qualifying comp sales · not on file Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 8 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
438 Cedar, Drain, OR 97435-0058 $100,000 Sep 2024 3,659 SF
207 2nd, Drain, OR 97435-0199 $67,500 Aug 2024 456 SF
305 1st, Drain, OR 97435-0268 $130,000 Jul 2022 936 SF
118 C, Drain, OR 97435-0050 $50,000 Feb 2022 2,425 SF
408 B, Drain, OR 97435-0227 $175,000 May 2021 2,700 SF
311 1st St, Drain, OR 97435-0268 $75,000 May 2020 No data
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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