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    1206 SE 28Th St Lincoln City, OR 97814

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    For Sale
    $2,500,000

    44 acres in Lincoln City Urban Growth Boundary.

    Property size:
    43 SF
    Lot size:
    43.49 Acres

    Property Features for 1206 SE 28Th St

    General Information

    Size
    43 SF
    Lot size
    43.49 Acres

    We can help!

    Listing Contact
    Bjorn Beer
    Source: Svn

    Listing Agent: Bjorn Beer

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lincoln City Development Opportunity

    Located within the Lincoln City Urban Growth Boundary and the Nelscott Urban Renewal Area, Pacific Highlands offers two adjacent parcels totaling roughly 44 acres. The area will have future funding available for infrastructure expansion and potential housing support. The Urban Renewal Agency will consider an equitable share of the transportation network provided on the property to area and community-wide systems with annexation. Pre-development costs can be considered in partnership with experienced developers. SDC fees may be deferred to Certificate of Occupancy for both market rate and Affordable multi-unit housing development. The site is attractive due to a consistent annual population growth of 1.31% and limited suitable building land. Pacific Highlands is off Highway 101, close to schools, and commercial and tourist areas, in the heart of Lincoln City. Lincoln City is deepening its economic base beyond tourism and becoming a popular retirement destination, located 30 minutes from Newport, 1 hour from Salem, and 2 hours from Portland. The site accommodates multifamily development density up to 10 units per acre. The city is ready and willing to partner with the right developer and will allow mixed-use, apartments, SFRs, or a combination thereof. There are no affordability restrictions. Undeveloped portions of the property may stay in forest deferral. Wetlands have been addressed and are not in the inundation zone. The higher portion of the property offers ocean views. Seller carry is available for experienced developers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln City
    County
    Lincoln
    State
    Oregon
    Longitude
    -124.017
    Latitude
    44.94614

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    FAQs

    What type of property is this?
    Land - 44 acres in Lincoln City Urban Growth Boundary.
    Where is this land located?
    The property is located at 1206 SE 28Th St Lincoln City, OR.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - Located within the Nelscott Urban Renewal Area with potential funding.; - SDC fees can be deferred until Certificate of Occupancy.; - City is willing to partner with developers and allows for mixed-use.
    (503) 208-9403
    Request Owner's contact information
    1206 SE 28Th St Lincoln City, OR 97814
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    Lincoln City, OR 97814
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1206 SE 28Th St Lincoln City, OR 97814
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    We can help!
    Listing Contact
    Bjorn Beer
    Real Estate License ID: #201236666
    (503) 208-9403
    Learn more
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