Leased Mixed-Use Highway
For Sale
$699,000
2728 NE HWY 101, Lincoln City, OR 97367
Commercial Sale, Lincoln City, OR
Property Size3,648 SF
Lot Size0.20 Acres
Price / SF$191.61
Days on Market137
Property Features for 2728 NE HWY 101
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC - General Commercial
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 1, Bathroom 3, Bathroom 4
Parking
9
Parking features
Open
Lot features
Gentle Sloping, Landscaped
Directions
Highway 101 to property on East side of Highway
Standard status
Active
APN
071111BB-3601-00
Size
3,648 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4077
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1965
Floors in Building
2
Flooring type
Laminate
Building materials
Shake Siding, Cedar
Roof type
Composition
Listing Agency:
Taylor & Taylor Realty Company
(800) 462-0197
Listed By:
Dennis M Regen · License #810604051
(541) 994-4169
Added: Apr 17
Changed: Aug 19
Last Checked: Aug 31 at 12:06PM
MLS# 26-1009
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 3,648-square-foot mixed-use building contains three retail suites at the main level and eight storage units below. The property was built in 1965 and includes laminate flooring, electric heat, a composition roof, shake and cedar siding, open parking, public water, and public sewer. Businesses operating in the building are not included in the sale.
Located at 2728 NE Hwy 101 in Lincoln City, the property provides 95 feet of frontage along Highway 101. It is zoned GC – General Commercial and lies within an Opportunity Zone. Cable service is available, and the building is currently fully leased.
Located at 2728 NE Hwy 101 in Lincoln City, the property provides 95 feet of frontage along Highway 101. It is zoned GC – General Commercial and lies within an Opportunity Zone. Cable service is available, and the building is currently fully leased.
Key Highlights
- 3,648‑square‑foot mixed‑use building with three retail suites and eight storage units
- 95 feet of frontage on Highway 101 in Lincoln City
- GC – General Commercial zoning
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
$44,791
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
6.41%
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%
$895,820
$895.8K
Cap Rate 7%
$639,871
$639.9K
Cap Rate 9%
$497,678
$497.7K
Market Conditions
NOI Build-Up for 3,648 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
$54.7K $15.00/SF
− Vacancy
−$2.0K −$0.56/SF
EGI
$52.7K $14.45/SF
− OpEx
−$7.9K −$2.17/SF
NOI
$44.8K $12.28/SF
Area
Lincoln County, OR
Vacancy
3.70%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
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%
$895,820
Cap Rate 7%
$639,871
Cap Rate 9%
$497,678
Alternative Uses
Best Use
Warehouse
$639.9K
$559.9K – $746.5K
NOI $44,791 @ 7.0% cap · market cap 6.41%
Second Best
Retail
$634.2K
$555.0K – $740.0K
NOI $44,397 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$951.5K
$832.6K – $1.11M
NOI $66,606 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
505
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 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?
Mixed-use property - Fully leased commercial building with three retail suites and lower-level storage units.
Where is this mixed-use property located?
The property is located at 2728 NE HWY 101 Lincoln City, OR.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 3,648‑square‑foot mixed‑use building with three retail suites and eight storage units; 95 feet of frontage on Highway 101 in Lincoln City; GC – General Commercial zoning
