Two-Storefront Retail
For Sale
$299,900
116 SE Locust St, Oakland, OR 97462
Downtown commercial space with kitchen amenities, open layout, exposed brick, large windows, and high ceilings.
Property Size1,830 SF
Price / SF$163.88
Days on Market41
Property Features for 116 SE Locust St
General Information
Standard status
Active
Size
1,830 SF
Building Details
Year Built
1900
Listing Agency:
Keller Williams Southern Oregon-Umpqua Valley
(541) 529-2320
Listed By:
Karissa Pangelina · License #201231176
Source:
Wyndeekono
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 5:52AM
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 Keller Williams Southern Oregon-Umpqua Valley
Investment Insights
Based on property information with market context.
Built in 1900, this downtown Oakland retail building contains two storefronts with distinct interior configurations. One side includes a kitchen area, dishwashing space, two bathrooms, and a storage room. The second side offers a broad open floor plan that can accommodate a range of retail or commercial concepts.
Interior features include exposed brick, tall ceilings, and large windows that bring character and natural light to the space. The property is located at 116 SE Locust St along Oakland’s downtown main stretch, placing both storefronts within the historic downtown setting.
Interior features include exposed brick, tall ceilings, and large windows that bring character and natural light to the space. The property is located at 116 SE Locust St along Oakland’s downtown main stretch, placing both storefronts within the historic downtown setting.
Key Highlights
- Two storefronts within one downtown Oakland building
- One storefront includes a kitchen, dishwashing area, two bathrooms, and storage
- Second storefront features a large open interior
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
$21,790
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
7.27%
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%
$435,800
$435.8K
Cap Rate 7%
$311,286
$311.3K
Cap Rate 9%
$242,111
$242.1K
Market Conditions
NOI Build-Up for 1,830 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
$32.9K $18.00/SF
− Vacancy
−$1.8K −$0.99/SF
EGI
$31.1K $17.01/SF
− OpEx
−$9.3K −$5.10/SF
NOI
$21.8K $11.91/SF
Area
Douglas County, OR
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$435,800
Cap Rate 7%
$311,286
Cap Rate 9%
$242,111
Alternative Uses
Best Use
Retail
$311.3K
$272.4K – $363.2K
NOI $21,790 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$316.7K
$277.1K – $369.5K
NOI $22,171 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97462, OR
4,130
Population
1,797
Households
2.3
Avg Household Size
52
Median Age
26%
College-Educated
94%
High-School Grad
219.7 sq mi
ZIP Area
19
Density / Sq Mi
$65,032
Median Household Income
$38,338
Median Earnings
$1,205
Median Rent
$377,700
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?
Storefront property - Downtown commercial space with kitchen amenities, open layout, exposed brick, large windows, and high ceilings.
Where is this storefront property located?
The property is located at 116 SE Locust St Oakland, OR.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two storefronts within one downtown Oakland building; One storefront includes a kitchen, dishwashing area, two bathrooms, and storage; Second storefront features a large open interior
