Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    601 Elks Dr Corvallis, OR 97330

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    601 Elks Dr Corvallis, OR 97330

    View on Map
    • Medical Office Space
    • 10,374 SF
    • 1.43 lot acres
    Off-Market
    Property ID
    US71-1309373
    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

    • The Corvallis Clinic Surgery Center / Medical Clinic / Hospital
    • Dr. Chris A. Metzger, MD / Physician
    • Dr. Barton C. Woodward, MD / Physician

    Property Details for 601 Elks Dr

    Year built
    2007
    Lot size
    1.43 lot acres
    Property size
    10,374 SF
    Zone code
    PD(RS-6)
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    11523AA00804
    APU
    11523AA00804

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Corvallis
    County
    Benton
    State
    Oregon
    Longitude
    -123.255
    Latitude
    44.6021
    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
    $55,014
    $0.00
    $0.00
    $2,864,288
    -
    $934,350
    $4,228,520
    $5,162,870

    Comparable in this City

    • Value Estimation by Request
      21,931 SF

      3517 Samaritan Dr

      MEDICAL BUILDING • 21,931 SF
      3517 Samaritan Dr, Corvallis, OR 97330-3767
      View Details
    • Value Estimation by Request
      10,308 SF

      996 Cir Blvd

      MEDICAL BUILDING • 10,308 SF
      996 Cir Blvd, Corvallis, OR 97330-1485
      View Details
    • Value Estimation by Request
      1,618 SF

      2438 Professional Dr

      MEDICAL BUILDING • 1,618 SF
      2438 Professional Dr, Corvallis, OR 97330-3991
      View Details
    • Value Estimation by Request
      77,441 SF

      440 Elks Dr

      MEDICAL BUILDING • 77,441 SF
      440 Elks Dr, Corvallis, OR 97330-3744
      View Details
    • Value Estimation by Request
      3,129 SF

      350 Elks Dr

      MEDICAL BUILDING • 3,129 SF
      350 Elks Dr, Corvallis, OR 97330-3742
      View Details
    • Value Estimation by Request
      1,429 SF

      2294 Kings Blvd

      MEDICAL BUILDING • 1,429 SF
      2294 Kings Blvd, Corvallis, OR 97330-3923
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      NW 5th St, Corvallis, OR 97330

      Office buildings
      NW 5Th St, 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
    • $790,000
      1,724 SF

      Corvallis Commercial Mixed-Use Property

      Versatile commercial property in Corvallis with flexible zoning.
      303 NW Harrison Blvd, Corvallis, OR 97330
      View Details
    • $4,494,000
      10,800 SF

      The First Upscale Commercial Condo Project in Corvallis For Sale

      The First Upscale Commercial Condo Project in Corvallis For Sale
      1815 NE Four Acre (Bldg #2, 1-6) Pl, Adair Village, OR 97330
      View Details
    • Contact for pricing
      7,070 SF

      Professional Office Building For Sale

      7,070 SF office building in Walnut Professional Center.
      2165 NW Professional Dr, Corvallis, OR 97330
      View Details
    • $479,900
      2,372 SF

      Versatile Corvallis Property with Options

      Adaptable property suitable for investment, rental, or owner-occupancy.
      3676 SW 3Rd St, Corvallis, OR 97330
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      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
    • $26 SF/Yr
      300 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
    • Contact for pricing

      Professional Suburban Office Space

      Office space for rent with on-site parking.
      310 NW 7Th St, Corvallis, OR 97330
      View Details
    • Contact for pricing

      Timberhill Professional Area Office Space

      2,910 SF office space in growing Timberhill area.
      2165 NW Professional Dr, Corvallis, OR 97330
      View Details
    • $1.75 SF/Yr
      18,956 SF

      HP Campus Office Space

      Open workspace with meeting rooms, near Oregon State University.
      1100 NE Cir Dr, Corvallis, OR 97330
      View Details
    • Contact for pricing

      Retail Center in Corvallis Market

      Largest retail center in Corvallis, near Oregon State University.
      2301 NW Kings Blvd, Corvallis, OR 97330
      View Details
    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.
    601 Elks Dr
    Corvallis, OR 97330
    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

    Thank You for Inquiry

    601 Elks Dr, Corvallis, OR, 97330

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!