Brewery Restaurant with Brewing
For Sale
$495,000
644 S Main St, Lebanon, OR 97355
Commercial, Lebanon, OR
Property Size2,555 SF
Lot Size0.09 Acres
Price / SF$193.74
Days on Market127
Property Features for 644 S Main St
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
CB
View
Territorial
Standard status
Active
Size
2,555 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
2923
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1905
Roof type
Other
Listing Agency:
KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
(541) 738-7770
Listed By:
LAURA GILLOTT · License #920300248
(541) 990-7785
Added: Apr 22
Changed: Aug 19
Last Checked: Aug 26 at 5:06AM
MLS# 839975
Copyright © 2026 Willamette Valley Multiple Listing Service. 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 2,555-square-foot brewery and restaurant property occupies a 0.09-acre site and was built in 1905. The interior features 14-foot ceilings, a prominent bar, walk-in cooler, full-service kitchen, storage areas, and dining space for 44 inside guests. A mezzanine, rear theater stage, and event area expand the operating layout, while covered outdoor seating adds an additional guest area.
Production improvements include a complete 3-barrel brewing system, canning equipment, and related supplies. The property also benefits from alley access and is identified with CB zoning. Heating and cooling are provided by a heat pump system.
Production improvements include a complete 3-barrel brewing system, canning equipment, and related supplies. The property also benefits from alley access and is identified with CB zoning. Heating and cooling are provided by a heat pump system.
Key Highlights
- 2,555‑square‑foot building on a 0.09‑acre site
- Complete 3‑barrel brewing system with canning equipment and supplies
- 14‑foot interior ceilings with bar, walk‑in cooler, and full‑service kitchen
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
$42,062
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
8.50%
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%
$841,240
$841.2K
Cap Rate 7%
$600,886
$600.9K
Cap Rate 9%
$467,356
$467.4K
Market Conditions
NOI Build-Up for 2,555 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
$82.5K $32.28/SF
− Vacancy
−$26.4K −$10.33/SF
EGI
$56.1K $21.95/SF
− OpEx
−$14.0K −$5.49/SF
NOI
$42.1K $16.46/SF
Area
Linn County, OR
Vacancy
32.00%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
25.00%
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%
$841,240
Cap Rate 7%
$600,886
Cap Rate 9%
$467,356
Alternative Uses
Best Use
Specialty Retail
$600.9K
$525.8K – $701.0K
NOI $42,062 @ 7.0% cap · market cap 8.50%
Second Best
Industrial
$368.3K
$322.3K – $429.7K
NOI $25,784 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$744.3K
$651.3K – $868.4K
NOI $52,102 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
Explore this area
Business Placement
Demographics for 97355, OR
32,413
Population
13,623
Households
2.4
Avg Household Size
41
Median Age
18%
College-Educated
91%
High-School Grad
214.3 sq mi
ZIP Area
151
Density / Sq Mi
$64,307
Median Household Income
$39,934
Median Earnings
$1,267
Median Rent
$332,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Brewery - Configured hospitality property with production equipment, dining areas, event space, covered outdoor seating, and alley access.
Where is this brewery located?
The property is located at 644 S Main St Lebanon, OR.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,555‑square‑foot building on a 0.09‑acre site; Complete 3‑barrel brewing system with canning equipment and supplies; 14‑foot interior ceilings with bar, walk‑in cooler, and full‑service kitchen
