311 N FIRST ST, Drain, OR 97435
Douglas County
Key Facts
Description
Discover an exceptional commercial opportunity that perfectly blends business potential with live-work convenience in charming Drain, Oregon. This impressive 4,655-square-foot building sits strategically along busy Highway OR-38/OR-99, ensuring your future venture enjoys excellent visibility and steady foot traffic from travelers between Eugene and Roseburg.The two-story structure offers incredible flexibility for entrepreneurs ready to make their mark. Whether you envision a bustling restaurant, retail store, fitness center, or unique specialty business, this spacious property provides the canvas for your commercial dreams. The generous downstairs area flows seamlessly into an equally impressive upper level, creating endless possibilities for creative business layouts.What sets this property apart is its live-work potential – zoning permits residential use upstairs, allowing you to literally live above your business and maximize your investment. Picture rolling out of bed and walking downstairs to your thriving enterprise, eliminating commute stress while keeping overhead costs manageable.Recent improvements include a brand-new roof backed by a 20-year warranty, providing peace of mind for years to come. The unique walk-out roof access opens opportunities for outdoor seating, events, or additional business space. Convenient on-street parking ensures customers can easily access your establishment, while the prime location next to Ray's Food Place guarantees steady neighborhood traffic.This building practically begs for renovation magic – bring your vision and watch this diamond in the rough transform into your profitable business venture. With flexible financing options potentially available, including owner-carry possibilities with a $70,000 down payment, your entrepreneurial journey could begin sooner than expected.
Property Information
Property Type
Commercial Sale
Year Built
1935
Stories
2
Living Area
4,655 sq ft
Lot Size
0.06 acres
Zoning
COMM
Days on Market
50
MLS® Listing#
384104693
Property Features
Cooling
Heating
Parking
Construction
Roof
Sewer
Water Source
Financial Details
Annual Taxes
$674
Tax year 2024
Parcel Number
R21059
Directions
From Roseburg 1-5 N to exit 150, right on W B Ave, left on 1st; From Eugene I-5 S to exit 162 OR-38
Affordability Calculator
$37,240
Estimated monthly payment
$991/mo
Principal $148,960 · Est. interest $207,812 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Drain, OR
- $314,286
- Median Listing Price
- 226
- Median Days on Market
- 1,377
- Median Sq Ft
- $286
- Median Price / Sq Ft
- 8
- Active Listings
- This home’s price is 41% below the area median.
- Its price per sq ft is 86% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Drain, OR.
Location
Points of Interest in Drain, OR
Showing the Drain area map.
Nearby Schools
North Douglas High School
Secondary · 0.3 mi away
North Douglas Elementary & Middle School
Elementary · 0.3 mi away
North Douglas School District Office
Elementary · 0.4 mi away
Yoncalla Elementary School
Elementary · 4.5 mi away
Yoncalla High School
Secondary · 5.1 mi away
London School
Elementary · 11.7 mi away
Lorane Elementary School
Elementary · 12.6 mi away
Elkton High School
Secondary · 12.8 mi away
Elkton Grade School
School · 13.3 mi away
Latham Elementary School
Elementary · 14.0 mi away
Bohemia Elementary School
Elementary · 14.8 mi away
Cottage Grove High School
Secondary · 14.9 mi away
Lincoln Middle School
Secondary · 15.0 mi away
South Lane School District
School · 15.5 mi away
Harrison Elementary School
Elementary · 15.5 mi away
Cottage Grove Christian School
School · 15.6 mi away
Academy for Character Education
School · 15.7 mi away
Lincoln Middle School
Elementary · 16.1 mi away
Oakland School District
Secondary · 16.3 mi away
Oakland Elementary School
Elementary · 16.4 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 295 E C AVE, Drain, OR | $229,000 | 2 | 1 | 600 |
| 920 BUCK CREEK RD, Drain, OR | $235,000 | 2 | 1 | 672 |
Moving Cost Estimate
EXIT Agents in Drain
Listing Courtesy: RE/MAX Integrity - 5416733272
Presented by: Kristine Ronk
Last Updated: 2025-10-20