Mixed-Use Property with Residential
For Sale
$1,999,000
11056 SE MAIN St, Milwaukie, OR 97222
CommercialSale, Milwaukie, OR
Property Size14,372 SF
Price / SF$139.09
Days on Market112
Property Features for 11056 SE MAIN St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DMU
Directions
SE Washington St & SE 21st
Subdivision
_145
Standard status
Active
APN
00027214
Size
14,372 SF
Taxes and HOA fees
Tax Description
5 MILWAUKIE PT LT 6 BLK 30
Tax Annual Amount
12964
Legal Description
5 MILWAUKIE PT LT 6 BLK 30
Utilities
Heating system
Forced Air
Building Details
Year built
1948
Roof type
Flat
Listing Agency:
Keller Williams Sunset Corridor · Keller Williams Realty
(503) 748-8300
Listed By:
Chris Suarez · License #200108016
(503) 890-6527
Added: May 7
Changed: Aug 25
Last Checked: Aug 26 at 6:06AM
MLS# 318333696
Copyright © 2026 Regional Multiple Listing Services. 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 offering brings together three contiguous parcels totaling 14,372 square feet. The assemblage includes the Golden Nugget Bar, Libbie's Restaurant, six residential units, and a separate surface parking parcel. The bar is an established neighborhood tavern with turn-key operations, while the restaurant includes functional dining and kitchen improvements. The residential component is currently occupied and produces rental income. Forced-air heating, a flat roof, and 1948 construction are documented for the property.
The parking parcel contains a 20 to 25 space surface lot. The site is located on SE Main St in Milwaukie, Oregon, two blocks from the river, and is zoned DMU. The properties have been operated by the owner continuously for 14 years, creating an established operating history across multiple commercial and residential components.
The parking parcel contains a 20 to 25 space surface lot. The site is located on SE Main St in Milwaukie, Oregon, two blocks from the river, and is zoned DMU. The properties have been operated by the owner continuously for 14 years, creating an established operating history across multiple commercial and residential components.
Key Highlights
- Three contiguous parcels totaling 14,372 square feet
- Golden Nugget Bar with established neighborhood tavern operations
- Libbie's Restaurant includes functional dining and kitchen improvements
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
$179,470
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
8.98%
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%
$3,589,400
$3.6M
Cap Rate 7%
$2,563,857
$2.6M
Cap Rate 9%
$1,994,111
$2.0M
Market Conditions
NOI Build-Up for 14,372 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
$258.7K $18.00/SF
− Vacancy
−$19.4K −$1.35/SF
EGI
$239.3K $16.65/SF
− OpEx
−$59.8K −$4.16/SF
NOI
$179.5K $12.49/SF
Area
Clackamas County, OR
Vacancy
7.50%
Lease Rate
$18.00 /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%
$3,589,400
Cap Rate 7%
$2,563,857
Cap Rate 9%
$1,994,111
Alternative Uses
Best Use
Mixed Use
$3.23M
$2.82M – $3.76M
NOI $225,773 @ 7.0% cap · market cap 11.29%
Second Best
Apartment 5plus
$2.64M
$2.31M – $3.08M
NOI $184,536 @ 7.0% cap · market cap 9.23%
Theoretical Best
Office A
$3.88M
$3.39M – $4.53M
NOI $271,555 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 37%
Beauty & Spa 17%
Cha Cha Cha
Dining
2,890 visits/mo
0.1 miles
76
Shops & Services
2,189 visits/mo
0.0 miles
BMO Harris Bank
Shops & Services
1,387 visits/mo
0.1 miles
Bishops Haircuts
Beauty & Spa
1,278 visits/mo
0.1 miles
Demographics for 97222, OR
36,316
Population
16,910
Households
2.1
Avg Household Size
41
Median Age
38%
College-Educated
95%
High-School Grad
8.6 sq mi
ZIP Area
4,223
Density / Sq Mi
$77,441
Median Household Income
$48,298
Median Earnings
$1,592
Median Rent
$465,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three contiguous parcels combine operating food-and-beverage businesses, residential occupancy, and surface parking in a mixed-use commercial property.
Where is this mixed-use property located?
The property is located at 11056 SE MAIN St Milwaukie, OR.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Three contiguous parcels totaling 14,372 square feet; Golden Nugget Bar with established neighborhood tavern operations; Libbie's Restaurant includes functional dining and kitchen improvements
