Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    407 2nd St Corvallis, OR 97330-6441

    • Hotels
    • 40,158 SF
    • 1.52 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-1029829
    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.

    Current Use by Public Records

    • 407 NW 2nd St Parking / Parking Lot & Garage
    • Super 8 by Wyndham Corvallis / Hotel & Motel

    Property Details for 407 2nd St

    Year built
    1994
    Lot size
    1.52 lot acres
    Property size
    40,158 SF
    Zone code
    CMU-3
    Property type
    Hotels
    APN
    11535DB14800
    APU
    11535DB14800

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Corvallis
    County
    Benton
    State
    Oregon
    Longitude
    -123.258
    Latitude
    44.5674
    CBSA code
    18700
    CBSA name
    CORVALLIS, OR METROPOLITAN 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
    $74,928
    $0.00
    $0.00
    $4,360,796
    -
    $1,829,486
    $2,531,310
    $4,360,796

    Comparable in this City

    • Value Estimation
      $2,700,000
      29,520 SF

      1113 9th St

      HOTEL • 29,520 SF
      1113 9th St, Corvallis, OR 97330-4505
      View Details
    • Value Estimation by Request

      1829 9Th St

      Individual retail properties
      1829 9Th St, Corvallis, OR 97330
      View Details
    • Value Estimation by Request

      4790 Hwy 20

      INDUSTRIAL (GENERAL)
      4790 Hwy 20, Corvallis, OR 97330-9234
      View Details
    • Value Estimation by Request
      0.18 Acres

      2120 Jack London St

      INDUSTRIAL - VACANT LAND • 0.18 Acres
      2120 Jack London St, Corvallis, OR 97330-6916
      View Details
    • Value Estimation by Request
      0.10 Acres

      1462 Jackson Ave

      COMMERCIAL (GENERAL) • 0.10 Acres
      1462 Jackson Ave, Corvallis, OR 97330-5841
      View Details
    • Value Estimation by Request
      0.23 Acres

      Corvallis, OR 97330

      VACANT COMMERCIAL LAND • 0.23 Acres
      Corvallis, OR 97330
      View Details

    Similar Nearby for Sale

    • $7,500,000
      34,040 SF

      Rodeway Inn: Corvallis Hotel

      Downtown Corvallis hotel, strong ROI.
      345 2Nd St, Corvallis, OR 97330
      View Details
    • Contact for pricing

      Downtown Corvallis Investment Opportunity

      Hotel, restaurant, and apartments near Oregon State University.
      345 Northwest 2Nd St, Corvallis, OR 97330
      View Details
    • $550,000
      6,400 SF

      High-Traffic Corvallis Commercial Property

      1.32 Acres, 6400 sq ft building, great potential!
      6400 Highway 99, Corvallis, OR 97330
      View Details
    • $5,243,000
      12,600 SF

      12,600 SF New Office Building For Sale

      12,600 SF New Office Building For Sale
      1815 NE Four Acre (Bldg #2, 1-7), Adair Village, OR 97330
      View Details
    • $5,999,900
      31,584 SF

      Corvallis Industrial Complex - 22 Acres

      Ten-building industrial complex, high occupancy.
      Corvallis, OR 97330
      View Details
    • $5,999,900
      31,584 SF

      Kammerer Industrial Park: Corvallis, OR

      Multi-tenant industrial complex, high NOI, seller financing.
      720 Granger Ave, Corvallis, OR 97330
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      7,070 SF

      Prime Timberhill Office Space

      7,070 SF Office Building, 2,910 SF Available
      2165 Professional Dr, Corvallis, OR 97330
      View Details
    • $24 SF/Yr
      5,762 SF

      Suburban Executive Office Space

      Prime Office, 2400 sq ft, Furnished Available
      310 7Th St, Corvallis, OR 97330
      View Details
    • $1.65 SF/Yr
      2,214 SF

      Corvallis Medical/Office Space Available

      2,214 SF move-in ready space in a bustling commercial area.
      2314 NW Kings Blvd, Corvallis, OR 97330
      View Details
    • Contact for pricing
      4,598 SF

      Retail Space in Corvallis Center

      Retail space available in renovated Corvallis shopping center.
      922-948 NW Circle Blvd, Corvallis, OR 97330
      View Details
    • $17 SF/Yr
      1,120 SF

      Retail Space in Corvallis Center

      Retail space available in Corvallis's largest shopping center.
      2301-2543 NW Kings Blvd, Corvallis, OR 97330
      View Details
    • $26 SF/Yr
      17,150 SF

      Office and Lab Space Available

      Technology campus with office, lab space, and amenities for rent.
      1100 NE Circle Blvd, Corvallis, OR 97330
      View Details

    Property Visit Statistics

    • Visits by month
      1.6k
    • Visitors by month
      657
    • Avg Time on site
      326 min
    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.
    407 2nd St
    Corvallis, OR 97330-6441
    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

    Google sign-in failed. Please try again or use another login method.