Historic Two-Story
1040 Commercial St, Astoria, OR 97103
For Sale
$850,000
C-1-zoned commercial building in downtown Astoria with prior restaurant and other commercial uses.
Property Size4,356 SF
Price / SF$195.13
Days on Market49
Property Features for 1040 Commercial St
General Information
Standard status
Size
Zoning
Building Details
Year Built
Buildings
Stories
Listing Agency:
Windermere Community Realty
Listed By:
Kathren Rusinovich · License #870800221
(503) 338-2245
Source:
Wisser
Added: Sep 22
Changed: Oct 25
Last Checked: Oct 6 at 12:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Windermere Community Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1924, this two-story storefront property contains approximately 4,356 square feet within a historic commercial building. The property is zoned C-1 and has supported restaurant and other commercial uses, providing an established commercial format for continued occupancy or future planning subject to applicable approvals.
The building is located at 1040 Commercial Street in downtown Astoria, placing the property within the city’s central commercial area. Its storefront configuration and two-level layout offer a recognizable presence along Commercial Street, while the existing zoning and prior use history provide important context for evaluating potential commercial applications.
The building is located at 1040 Commercial Street in downtown Astoria, placing the property within the city’s central commercial area. Its storefront configuration and two-level layout offer a recognizable presence along Commercial Street, while the existing zoning and prior use history provide important context for evaluating potential commercial applications.
Key Highlights
- Approximately 4,356 SF of building area
- Two‑story commercial building constructed in 1924
- C‑1 commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,931
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,338,620
$1.3M
Cap Rate 7%
$956,157
$956.2K
Cap Rate 9%
$743,678
$743.7K
Market Conditions
NOI Build-Up for 4,356 SF
Gross rent
$140.6K $32.28/SF
− Vacancy
−$45.0K −$10.33/SF
EGI
$95.6K $21.95/SF
− OpEx
−$28.7K −$6.59/SF
NOI
$66.9K $15.37/SF
Area
Clatsop County, OR
Vacancy
32.00%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,338,620
Cap Rate 7%
$956,157
Cap Rate 9%
$743,678
Alternative Uses
Best Use
Retail
$956.2K
$836.6K – $1.12M
NOI $66,931 @ 7.0% cap · market cap 7.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,653 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
62k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 42%
McDonald's
Dining
19,335 visits/mo
0.2 miles
Burger King
Dining
10,352 visits/mo
0.4 miles
Mobil
Shops & Services
7,418 visits/mo
0.4 miles
Chevron
Shops & Services
6,810 visits/mo
0.3 miles
U.S. Bank
Shops & Services
3,913 visits/mo
0.2 miles
Demographics for 97103, OR
18,080
Population
8,007
Households
2.3
Avg Household Size
44
Median Age
25%
College-Educated
93%
High-School Grad
163.3 sq mi
ZIP Area
111
Density / Sq Mi
$75,080
Median Household Income
$41,222
Median Earnings
$1,156
Median Rent
$437,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Storefront property - C-1-zoned commercial building in downtown Astoria with prior restaurant and other commercial uses.
Where is this storefront property located?
The property is located at 1040 Commercial St Astoria, OR.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Approximately 4,356 SF of building area; Two‑story commercial building constructed in 1924; C‑1 commercial zoning
