Shadow-Anchored by Major Grocer | Eugene MSA | 1498 E Main St
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Shadow-Anchored by Major Grocer | Eugene MSA 1498 E Main St
17,775 SF 55% Leased Retail Building Online Auction Sale Cottage Grove, OR 97424
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Investment Highlights
- Highly visible 17,775-SF shopping center shadow-anchored by Safeway and about 2 miles from I-5 in Cottage Grove, Oregon, part of the Eugene MSA.
- Premier value-add acquisition located in the thriving Lane County submarket, primed for an investor seeking lease-up upside at rising market rents.
- Desirably surrounded by ideal demographics where the average household income is about $80,000 within a 10-mile radius of the retail strip.
- Preferably situated with ample surface parking within a primary retail corridor encircled by demand drivers Walmart, Dollar Tree, Walgreens, and more.
- Excellently positioned 20 miles from Downtown Eugene, this retail strip is home to nationally renowned businesses such as The UPS Store and T-Mobile.
Executive Summary
Premium 17,775-square-foot shopping center shadow-anchored by Safeway with an in-house Starbucks and ample parking opportunities in Cottage Grove, Oregon, a part of the Eugene metropolitan area. 1498 E Main Street, part of Safeway Plaza, boasts exceptional visibility in front of more than 11,200 vehicles per day in Cottage Grove’s reputable east-west retail corridor. This single-story retail strip is home to nationally renowned tenants The UPS Store and T-Mobile who are joined by a synergetic mix of highly rated local businesses.
Safeway Plaza is strategically located within Cottage Grove’s retail corridor, preferably established less than one mile from Interstate 5/Pacific Highway, providing easy access to Downtown Eugene via a 20-mile commute. Surrounding the asset within an immediate 1-mile radius are household-named demand drivers Walmart Supercenter, Dollar Tree, Walgreens, McDonald’s, Subway, Taco Bell, Burger King, O’Reilly Auto Parts, and more. 1498 E Main Street is also within a 10-mile radius of a robust population where residents have an impressive average household income of about $80,000. These established residents are accompanied by 7,476 daytime employees and have a significant spending power of more than $362 million annually.
1498 E Main Street is excellently situated in the Lane County retail submarket, which has seen steady and ideally low vacancy rates of 2.5% with minimal construction investment over the past 10 years. This asset serves as a sought-after acquisition for an investor seeking to add an income producing property to their portfolio in a promising location and add immediate value through lease-ups.
Property tours are available by appointment only. Please contact the broker to schedule.
Listed by Lance Sasser with Kidder Mathews OR license # 201205525.
Safeway Plaza is strategically located within Cottage Grove’s retail corridor, preferably established less than one mile from Interstate 5/Pacific Highway, providing easy access to Downtown Eugene via a 20-mile commute. Surrounding the asset within an immediate 1-mile radius are household-named demand drivers Walmart Supercenter, Dollar Tree, Walgreens, McDonald’s, Subway, Taco Bell, Burger King, O’Reilly Auto Parts, and more. 1498 E Main Street is also within a 10-mile radius of a robust population where residents have an impressive average household income of about $80,000. These established residents are accompanied by 7,476 daytime employees and have a significant spending power of more than $362 million annually.
1498 E Main Street is excellently situated in the Lane County retail submarket, which has seen steady and ideally low vacancy rates of 2.5% with minimal construction investment over the past 10 years. This asset serves as a sought-after acquisition for an investor seeking to add an income producing property to their portfolio in a promising location and add immediate value through lease-ups.
Property tours are available by appointment only. Please contact the broker to schedule.
Listed by Lance Sasser with Kidder Mathews OR license # 201205525.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Eugene - OR USA
Market Cap Rate
Eugene - OR USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Storefront
Building Size
17,775 SF
Building Class
B
Year Built
2005
Percent Leased
55%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.22
Lot Size
1.88 AC
Parking
104 Spaces (5.85 Spaces per 1,000 SF Leased)
Frontage
382 FT on East Main Street
Amenities
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Open retail floorplan
1,200 SF (15’ x 80’) 4 OFFICES (2-PRIVATE) ADA RESTROOM REAR EXIT REAR PARKING
- 109
- 1,600 SF
- Retail
- In-Line
- 30 Days
1,573 SF (19.66’ x 80’) END-CAP SPACE IDEAL OPEN RETAIL FLOOR PLAN ADA RESTROOM REAR EXIT & PARKING
- 111
- 1,573 SF
- Retail
- End Cap
- Now
| Space | Size | Space Use | Position | Available |
| 101 | 2,400 SF | Retail | In-Line | Now |
| 108 | 1,200 SF | Retail | In-Line | 30 Days |
| 109 | 1,600 SF | Retail | In-Line | 30 Days |
| 111 | 1,573 SF | Retail | End Cap | Now |
| 111 | 1,573 SF | Retail | End Cap | Now |
101
| Size |
| 2,400 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
108
| Size |
| 1,200 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
109
| Size |
| 1,600 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
111
| Size |
| 1,573 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
111
| Size |
| 1,573 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
101
| Size | 2,400 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Open retail floorplan
1 of 2
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
108
| Size | 1,200 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | 30 Days |
1,200 SF (15’ x 80’) 4 OFFICES (2-PRIVATE) ADA RESTROOM REAR EXIT REAR PARKING
1 of 2
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
111
| Size | 1,573 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
1,573 SF (19.66’ x 80’) END-CAP SPACE IDEAL OPEN RETAIL FLOOR PLAN ADA RESTROOM REAR EXIT & PARKING
Walk Score ®
Very Walkable (75)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
7,800
14,776
17,002
2020 Population
7,720
14,854
17,191
2029 Population
7,830
14,787
16,996
2024-2029 Projected Population Growth
0.4%
0.1%
0.0%
Daytime Employees
4,162
5,196
5,322
Total Businesses
683
783
816
Average Household Income
$65,929
$68,144
$70,169
Median Household Income
$56,482
$57,277
$58,121
Total Consumer Spending
$87.6M
$174.1M
$205.7M
Median Age
40.4
42.9
43.9
2024 Households
3,030
5,731
6,603
Percent College Degree or Above
11%
12%
13%
Average Home Value
$364,129
$383,703
$399,181
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,256,035 | |
| Land Assessment | $619,103 | Total Assessment | $7,491,137 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$619,103
Improvements Assessment
$1,256,035
Total Assessment
$7,491,137
Sale Advisors
Sale Advisors
Darren Tappen, Senior Vice President, Managing Partner
(602) 513-5112
Contact
Darren Tappen of Kidder Mathews is a recognized expert in the field of commercial investment property assets in Arizona and the western region. Major banks, private equity funds, insurance companies, institutional investors and developers rely on Darren for his expert advice. Darren’s expertise includes REO dispositions, foreclosures and CMBS re-stabilization/disposition. Respected for his specialized knowledge and service-first approach, Darren leverages the Kidder Mathews platform to deliver high quality service across the full range of commercial property types. In addition, he is active throughout California and the regions where Kidder Mathews has offices up and down the West Coast, by collaborating with other market experts.
Prior to joining Kidder Mathews, Darren worked with Voit Real Estate Services where he specialized in acquisition and disposition of industrial, office and retail properties, as well as land development. Before entering the commercial real estate industry, Darren spent five years as a controller for Metcon Construction, a large general contracting firm in New Jersey.
Prior to joining Kidder Mathews, Darren worked with Voit Real Estate Services where he specialized in acquisition and disposition of industrial, office and retail properties, as well as land development. Before entering the commercial real estate industry, Darren spent five years as a controller for Metcon Construction, a large general contracting firm in New Jersey.
Nathan Thinnes, Senior Vice President
(602) 513-5164
Contact
Nathan Thinnes of Kidder Mathews has been involved in over $1 billion of transactions primarily in the western United States. His diverse skill set was garnered through stints in investment banking, multifamily acquisitions, and investment property brokerage. Having transacted with a wide variety of buyers, including private capital, family office, funds, institutions and REITs, Nathan is a highly regarded commercial real estate professional who leverages his financial acumen across various product types including office, multifamily, industrial and retail.
Prior to joining Kidder Mathews, Nathan was director of acquisitions for Western Wealth Capital where he acquired value-add multifamily assets covering seven states. Prior to his tenure at Western Wealth Capital, Nathan ran a Beverly Hills based family office and was responsible for acquiring/managing a diverse portfolio of properties, including multifamily, office, retail, land and hospitality. Before that, Nathan was an investment property broker with Cushman & Wakefield and TrammellCrow. Early in his career, Nathan was an analyst at BNP Paribas in the Technology Finance Group.
Prior to joining Kidder Mathews, Nathan was director of acquisitions for Western Wealth Capital where he acquired value-add multifamily assets covering seven states. Prior to his tenure at Western Wealth Capital, Nathan ran a Beverly Hills based family office and was responsible for acquiring/managing a diverse portfolio of properties, including multifamily, office, retail, land and hospitality. Before that, Nathan was an investment property broker with Cushman & Wakefield and TrammellCrow. Early in his career, Nathan was an analyst at BNP Paribas in the Technology Finance Group.
Peter Dunn, Senior Vice President
(503) 607-0197
Contact
With over 14 years of experience, Lance has transacted in nearly every corner of the greater Pacific Northwest.
Before brokerage, Lance headed up research and analyst departments where he was directly involved with over $4 billion in transaction volume.
Lance lives in Happy Valley, Oregon with his wife, and three daughters.
Before brokerage, Lance headed up research and analyst departments where he was directly involved with over $4 billion in transaction volume.
Lance lives in Happy Valley, Oregon with his wife, and three daughters.
Patrick Gardner, Associate - Investments & Distressed Properties
(714) 747-4858
Contact
Patrick Gardner is an associate with Kidder Mathews in Phoenix, specializing in underwriting and marketing the disposition of commercial real estate investment properties. His business administration degree from the University of Arizona and experience in the commercial banking industry have contributed to his brokerage success. Working with veterans Darren Tappen, Peter Beauchamp, and Nathan Thinnes, his role on the team includes prospecting for acquisition and disposition opportunities, underwriting income producing properties, developing marketing strategies, transaction coordination, and fostering client relationships.
Prior to joining Kidder Mathews, Patrick worked with Pacific Premier Bank for four years in multiple capacities including the Commercial Real Estate & Construction Division where he underwrote commercial real estate loans and presented directly to the Credit Committee. He also worked in related areas of the bank including treasury management and commercial banking where he developed a broad financial skillset that has contributed to his ability to effectively analyze commercial real estate investments
Prior to joining Kidder Mathews, Patrick worked with Pacific Premier Bank for four years in multiple capacities including the Commercial Real Estate & Construction Division where he underwrote commercial real estate loans and presented directly to the Credit Committee. He also worked in related areas of the bank including treasury management and commercial banking where he developed a broad financial skillset that has contributed to his ability to effectively analyze commercial real estate investments
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Molly Patten
Contact
Auctioneer License:
Ten-X RE Arlene Richardson RE Brkr 201215355
Contacts
-
Darren Tappen -
Nathan Thinnes -
Lance Sasser -
Peter Dunn -
Patrick Gardner -
Kidder Mathews
1 of 34
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Shadow-Anchored by Major Grocer | Eugene MSA | 1498 E Main St
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