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    115 Locust St Oakland, OR 97462

    Sponsored
    For Sale
    $749,000

    Iconic Restaurant Space, Umpqua Valley Location

    Property size:
    5,764 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This remarkable 5,764 square foot commercial property, situated on a 0.23-acre lot at 115 NE Locust St in Oakland, Oregon, presents a unique investment opportunity. Previously home to the beloved Tolly's Restaurant and Soda Fountain, this historic building boasts a flexible layout ideal for diverse commercial ventures. Imagine transforming this county landmark into your own thriving business. The possibilities are endless, from a restaurant or soda shoppe to an event venue, retail space, or a wine tasting room, perfectly positioned within the renowned Umpqua Valley wine region. The building's character is undeniable, with its charming brick exterior and inviting atmosphere. A significant advantage is the expansive, paved, gated courtyard featuring brick columns and wrought iron fencing. This outdoor space offers considerable potential for expanded seating, hosting events, or simply enhancing the overall ambiance. The central location ensures high visibility and accessibility, promising a strong foundation for success. This property is more than just a building

    Property Features for 115 Locust St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    5,764 SF
    Lot Size
    10,019 SF

    Building Details

    Year Built
    1890
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Auto Repair Shop Hair Salon Hotel & Motel Nail Salon Department Store Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Douglas
    State
    Oregon
    Longitude
    -123.2989
    Latitude
    43.42221

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    FAQs

    What type of property is this?
    Commercial real estate - Iconic Restaurant Space, Umpqua Valley Location
    Where is this commercial real estate located?
    The property is located at 115 Locust St Oakland, OR.
    What is the asking price?
    The asking price for this property is $749,000.
    (541) 673-3272
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    115 Locust St Oakland, OR 97462
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    Oakland, OR 97462
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    115 Locust St Oakland, OR 97462
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