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    904 Pacific SE Blvd Albany, OR 97321-3149

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    904 Pacific SE Blvd Albany, OR 97321-3149

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    • Investment properties
    • 1,608 SF
    • 0.09 lot acres
    Off-Market
    Property ID
    US71-0300823
    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

    • Custom Eyes of Albany / Eye Care Center / Contact Lenses Supplier
    • Michael Estes / Physician
    • Dr. Spencer Ludlow / Ophthalmologist
    • David Wheeler / Ophthalmologist
    • Pathfinders Mortgage / Loan Service / Bank

    Property Details for 904 Pacific SE Blvd

    Year built
    1971
    Lot size
    0.09 lot acres
    Property size
    1,608 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    11S 03W 07AA 03700
    APU
    11S03W07AA03700

    Description

    This exceptional single-tenant property at 904 Pacific Blvd SE in Albany, Oregon, offers 1,608 square feet of versatile space ideal for retail, medical, or executive office use. The building features a single story with an 8-foot ceiling height and is situated within the 9th Ave Business Fourplex submarket cluster, near a Starbucks. Ample parking is provided with 20 spaces, ensuring convenient access for clients and employees. The strategic location boasts excellent visibility and accessibility, with easy ingress and egress to 9th Street, Madison Street, and Hill Street. A large reader board enhances visibility from Pacific Boulevard, maximizing exposure to potential customers and benefiting from the high traffic generated by the nearby Starbucks. The property's APN is 86468 and its zip code is 97321. This is a prime opportunity for businesses seeking a high-traffic location with strong visibility and ample parking in a thriving Albany commercial area. The property type is classified as Retail, Office, and Special Purpose.

    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
    Albany
    County
    Linn
    State
    Oregon
    Longitude
    -123.093
    Latitude
    44.6329
    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
    $3,561
    $0.00
    $0.00
    $178,780
    -
    $94,700
    $134,900
    $229,600

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

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      OFFICE/RESIDENTIAL (MIXED USE) • 0.08 Acres
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    • Value Estimation
      $625,000
      8,619 SF

      424 1st SE Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 8,619 SF
      424 1st SE Ave, Albany, OR 97321-2766
      View Details
    • Value Estimation
      $640,000
      2,800 SF

      409 1st NW Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,800 SF
      409 1st NW Ave, Albany, OR 97321-2227
      View Details
    • Value Estimation by Request
      1,980 SF

      434 1st SW Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,980 SF
      434 1st SW Ave, Albany, OR 97321-2228
      View Details
    • Value Estimation
      $1,945,000
      26,822 SF

      200 1st SW Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 26,822 SF
      200 1st SW Ave, Albany, OR 97321
      View Details
    • Value Estimation by Request
      3,213 SF

      426 1st SW Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,213 SF
      426 1st SW Ave, Albany, OR 97321
      View Details

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    Similar Nearby for Lease

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      842 SF

      Retail Suites in Heritage Plaza

      Retail/office suites available in well-located Albany shopping center.
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      Retail Space in Albany, Oregon

      Retail space available for lease in Albany, Oregon.
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    904 Pacific SE Blvd
    Albany, OR 97321-3149
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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.

    More about this property
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