Mixed-Use Property with Multiple
For Sale
$900,000
2123 NE 36TH DR, Lincoln City, OR 97367
Commercial Sale, Lincoln City, OR
Property Size7,562 SF
Lot Size0.48 Acres
Price / SF$119.02
Days on Market146
Property Features for 2123 NE 36TH DR
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC - General Commercial
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
Parking
8
Parking features
Open
Window features
Double Pane Windows, Blinds
Fireplace
1
Appliances
Dishwasher, Microwave, Gas Range, Water Heater, Washer, Dryer, Refrigerator
Lot features
Level, Landscaped
Directions
Hwy 101 to NE 36th Dr to property.
Standard status
Active
APN
071102CB-500-00
Size
7,562 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8667
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2004
Floors in Building
2
Flooring type
Laminate, Vinyl, Carpet
Building materials
Lap Siding
Roof type
Composition
Additional Structures
Greenhouse
Listing Agency:
Taylor & Taylor Realty Company
(800) 462-0197
Listed By:
Dennis M Regen · License #810604051
(541) 994-4169
Added: Apr 8
Changed: Aug 19
Last Checked: Aug 31 at 7:06AM
MLS# 26-891
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 mixed-use property includes 7,562 square feet of improvements on 0.48 acres within General Commercial zoning. The primary structure contains a 1,456-square-foot, three-bedroom, two-bath home above a three-car garage and office; the third bedroom is currently used as an office. Additional improvements include an approximately six-car garage with office and storage space totaling approximately 2,650 square feet, plus a separate building with another three-car garage and office space of approximately 2,000 square feet.
Built in 2004, the property has lap siding, a composition roof, laminate, vinyl, and carpet flooring, and a fireplace. Public water and public sewer serve the site. Open parking is also provided.
Built in 2004, the property has lap siding, a composition roof, laminate, vinyl, and carpet flooring, and a fireplace. Public water and public sewer serve the site. Open parking is also provided.
Key Highlights
- 7.562 sq ft of improvements on .48 acres
- GC - General Commercial zoning
- 1,456 sq ft 3‑bedroom, 2 bath home above a three‑car garage and office
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
$69,306
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
7.70%
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%
$1,386,120
$1.4M
Cap Rate 7%
$990,086
$990.1K
Cap Rate 9%
$770,067
$770.1K
Market Conditions
NOI Build-Up for 7,562 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
$118.0K $15.60/SF
− Vacancy
−$7.1K −$0.94/SF
EGI
$110.9K $14.66/SF
− OpEx
−$41.6K −$5.50/SF
NOI
$69.3K $9.17/SF
Area
Lincoln County, OR
Vacancy
6.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,386,120
Cap Rate 7%
$990,086
Cap Rate 9%
$770,067
Alternative Uses
Best Use
Office B
$1.66M
$1.45M – $1.94M
NOI $116,338 @ 7.0% cap · market cap 12.93%
Second Best
Mixed Use
$990.1K
$866.3K – $1.16M
NOI $69,306 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,069 @ 7.0% cap · market cap 15.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
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 Office 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?
Mixed-use property - General Commercial zoning supports a combination of residential, office, garage, and storage improvements.
Where is this mixed-use property located?
The property is located at 2123 NE 36TH DR Lincoln City, OR.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 7.562 sq ft of improvements on .48 acres; GC - General Commercial zoning; 1,456 sq ft 3‑bedroom, 2 bath home above a three‑car garage and office
