Building Details

Year built 1900

Floors in Building 1

Building materials Brick

Roof type Rubber

Listing Agency: Keller Williams Southern Oregon-Umpqua Valley · Keller Williams Realty k***@kw.com Show Phone

Listed By: Karissa Pangelina · License #201231176 Show Phone

Added: May 5, 2023 Changed: Sep 30 Last Checked: Oct 10 at 5:06AM

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MLS# 23322529

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Investment Insights

Based on property information with market context.

Built in 1900, this 1,830-square-foot brick retail property contains two storefronts within Oakland’s downtown area. One side includes a kitchen, dishwashing area, storage room, and two bathrooms, while the adjoining space is configured as a large open area. Exposed brick, expansive windows, and high ceilings contribute to the building’s period character. The property includes forced-air heating, central air, and a rubber roof. Zoned C1, the building is positioned at 116 SE Locust St in Oakland, Oregon, on a 0.05-acre parcel.

Key Highlights

• Two storefronts in downtown Oakland
• 1,830 square feet on a 0.05‑acre parcel
• One side includes a kitchen, dishwashing area, storage room, and 2 bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,790

Cap Rate

7.03%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $21,790 @ 7.0% cap · market cap 7.03%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$316.7K

$277.1K – $369.5K (±1% cap)

NOI $22,171 @ 7.0% cap · market cap 7.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Building Supply (Bike/Boat/Book/etc) Store Storage Facility Carpet & Flooring Store Butcher Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

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

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Two distinct storefronts offer a kitchen-equipped suite and a flexible open retail area in downtown Oakland.

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 $310,000.

What are key features of this property?

This property features: Two storefronts in downtown Oakland; 1,830 square feet on a 0.05‑acre parcel; One side includes a kitchen, dishwashing area, storage room, and 2 bathrooms