Updated Office
For Sale
$749,000
113 N HOLLADAY Dr Unit 113, Seaside, OR 97138
Downtown setting with C3 zoning, nine off-street spaces, and a garage for parking or storage.
Property Size2,019 SF
Price / SF$370.98
Days on Market213
Property Features for 113 N HOLLADAY Dr Unit 113
General Information
Standard status
Active
Size
2,019 SF
Total Parking Spaces
9
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$3,663
Amenities
garage
3
Heavy Composition
C3
Parking.
9 Parking Spaces. Off Street.
Handicapped Access. Paved Road.
Building Details
Year Built
1940
Listing Agency:
Windermere Realty Trust
(503) 440-0457
Listed By:
Jody Conser · License #201237903
(503) 440-0457
Source:
Xome
Added: Jan 29
Changed: Aug 30
Last Checked: Aug 30 at 5:44AM
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 Realty Trust
Investment Insights
Based on property information with market context.
This 2,019-square-foot office building dates to 1940 and has received modern updates. The property includes a garage that can support parking, storage, or operational needs, along with handicapped access and a paved-road setting. Nine dedicated off-street parking spaces are also provided.
Located at 113 N Holladay Dr Unit 113 in Seaside, the property is positioned in a downtown commercial environment with visibility and accessibility described in the listing. C3 zoning accommodates a range of professional and commercial applications, including medical or dental offices, legal or accounting practices, wellness and beauty services, retail, restaurants, and cafés, subject to applicable permitted-use requirements.
Located at 113 N Holladay Dr Unit 113 in Seaside, the property is positioned in a downtown commercial environment with visibility and accessibility described in the listing. C3 zoning accommodates a range of professional and commercial applications, including medical or dental offices, legal or accounting practices, wellness and beauty services, retail, restaurants, and cafés, subject to applicable permitted-use requirements.
Key Highlights
- 2,019‑square‑foot office building
- C3 zoning supports professional and commercial uses
- Nine dedicated off‑street parking spaces
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
$33,900
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
4.53%
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%
$678,000
$678.0K
Cap Rate 7%
$484,286
$484.3K
Cap Rate 9%
$376,667
$376.7K
Market Conditions
NOI Build-Up for 2,019 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
$53.3K $26.40/SF
− Vacancy
−$8.1K −$4.01/SF
EGI
$45.2K $22.39/SF
− OpEx
−$11.3K −$5.60/SF
NOI
$33.9K $16.79/SF
Area
Clatsop County, OR
Vacancy
15.20%
Lease Rate
$26.40 /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%
$678,000
Cap Rate 7%
$484,286
Cap Rate 9%
$376,667
Alternative Uses
Best Use
Office B
$484.3K
$423.8K – $565.0K
NOI $33,900 @ 7.0% cap · market cap 4.53%
Second Best
Healthcare Medical
$396.6K
$347.0K – $462.7K
NOI $27,759 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$587.0K
$513.6K – $684.9K
NOI $41,091 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
979
Businesses Nearby
Explore this area
Business Placement
Demographics for 97138, OR
11,248
Population
7,785
Households
1.4
Avg Household Size
48
Median Age
28%
College-Educated
92%
High-School Grad
146.0 sq mi
ZIP Area
77
Density / Sq Mi
$51,993
Median Household Income
$39,285
Median Earnings
$1,004
Median Rent
$433,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Downtown setting with C3 zoning, nine off-street spaces, and a garage for parking or storage.
Where is this office building located?
The property is located at 113 N HOLLADAY Dr Unit 113 Seaside, OR.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 2,019‑square‑foot office building; C3 zoning supports professional and commercial uses; Nine dedicated off‑street parking spaces
