Two-Level Flex
For Sale
$1,800,000
1745 SW Hwy 101, Lincoln City, OR 97367
Commercial Sale, Lincoln City, OR
Property Size12,300 SF
Lot Size0.58 Acres
Price / SF$146.34
Days on Market373
Property Features for 1745 SW Hwy 101
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2 General Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Parking
17
Parking features
Off Street
Security features
Security System
Fencing
Chain Link
Lot features
Level
Directions
Highway 101 North or South to address.
Standard status
Active
APN
071122AA-3600-00
Size
12,300 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13582
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard, Natural Gas
Water source
Public
Building Details
Floors in Building
2
Building materials
Lap Siding
Roof type
Metal
Listing Agency:
Taylor & Taylor Realty Company
(800) 462-0197
Listed By:
Dennis M Regen · License #810604051
(541) 994-4169
Added: Aug 24, 2025
Changed: Aug 19
Last Checked: Aug 31 at 7:06AM
MLS# LC-104695
Copyright © 2026 Oregon Coast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This C-2 General Commercial property contains 12,300 square feet across a retail component and two-level flex space. The retail area measures 2,400 square feet and is configured for three users, while the 9,900-square-foot flex portion is divided into 4,950 square feet on each level. The building includes three bathrooms, a metal roof, lap siding, chain-link fencing, and electric, baseboard, and natural-gas heating. Public water and public sewer serve the property, with water available and off-street parking provided.
The site comprises two tax lots totaling 0.58 acres and offers 161 feet of frontage along Highway 101 in Lincoln City. It is positioned south of the factory outlet stores in a high-traffic commercial setting. The sellers will lease back the 2,400-square-foot retail area with a 10-year option. The business operating at the property is excluded from the sale.
The site comprises two tax lots totaling 0.58 acres and offers 161 feet of frontage along Highway 101 in Lincoln City. It is positioned south of the factory outlet stores in a high-traffic commercial setting. The sellers will lease back the 2,400-square-foot retail area with a 10-year option. The business operating at the property is excluded from the sale.
Key Highlights
- 12,300 square feet of total building area
- 2,400‑square‑foot retail area configured for three users
- 9,900 square feet of flex space split between two 4,950‑square‑foot levels
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$149,695
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,993,900
$3.0M
Cap Rate 7%
$2,138,500
$2.1M
Cap Rate 9%
$1,663,278
$1.7M
Market Conditions
NOI Build-Up for 12,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$221.4K $18.00/SF
− Vacancy
−$7.5K −$0.61/SF
EGI
$213.9K $17.39/SF
− OpEx
−$64.2K −$5.22/SF
NOI
$149.7K $12.17/SF
Area
Lincoln County, OR
Vacancy
3.41%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,993,900
Cap Rate 7%
$2,138,500
Cap Rate 9%
$1,663,278
Alternative Uses
Best Use
Retail
$2.14M
$1.87M – $2.49M
NOI $149,695 @ 7.0% cap · market cap 8.32%
Second Best
Industrial
$1.78M
$1.55M – $2.07M
NOI $124,371 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$3.21M
$2.81M – $3.74M
NOI $224,576 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97367, OR
11,095
Population
8,138
Households
1.4
Avg Household Size
53
Median Age
29%
College-Educated
91%
High-School Grad
45.7 sq mi
ZIP Area
243
Density / Sq Mi
$58,845
Median Household Income
$37,370
Median Earnings
$1,333
Median Rent
$388,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - C-2-zoned commercial property combines retail frontage with adaptable flex space and off-street parking.
Where is this flex space located?
The property is located at 1745 SW Hwy 101 Lincoln City, OR.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 12,300 square feet of total building area; 2,400‑square‑foot retail area configured for three users; 9,900 square feet of flex space split between two 4,950‑square‑foot levels
