Historic Two-Storefront Retail
For Sale
$299,900
116 SE LOCUST St, Oakland, OR 97462
CommercialSale, Oakland, OR
Property Size1,830 SF
Lot Size0.05 Acres
Price / SF$163.88
Days on Market1210
Property Features for 116 SE LOCUST St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
View
City
Directions
I 5 N, Exit 138, Merge on Stearns, L on Old Hwy 99 N, R on Locust
Subdivision
_256
Standard status
Active
APN
R32387
Size
1,830 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
OAKLAND R R ADD, BLOCK 15, LOT PT 5 & PT 6, ACRES 0.05
Tax Annual Amount
1230
Legal Description
OAKLAND R R ADD, BLOCK 15, LOT PT 5 & PT 6, ACRES 0.05
Utilities
Heating system
Forced Air
Cooling system
Central Air
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
(541) 529-2320
Listed By:
Karissa Pangelina · License #201231176
(541) 378-8694
Added: May 5, 2023
Changed: Aug 25
Last Checked: Aug 26 at 2:06AM
MLS# 23322529
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.
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 = 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 $299,900.
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
