Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1185 NE Mill St Waldport, OR 97394

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $725,000

    Commercial building near Dock of the Bay Marina in Waldport.

    Property size:
    1,440 SF
    Lot size:
    0.33 Acres

    Property Features for 1185 NE Mill St

    General Information

    Standard status
    Active
    Zoning
    C-1 Commercial
    Size
    1,440 SF
    Lot size
    0.33 Acres

    Building Details

    Year built
    1994

    We can help!

    Listing Contact
    Brandon Hanson
    Brandon Hanson
    Source: Crexi

    Listing Agency: Premiere Property Group, LLC Listing Agent: Brandon Hanson

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

    Learn more

    Overview

    Restaurant Building Near Dock Marina

    This property presents an opportunity to own a building adjacent to Dock of the Bay Marina in Waldport. The listing includes two tax lots: a 0.24-acre parcel with a 1,440 square foot building, previously known as Azul Mexican Restaurant, and a 0.09-acre parcel used for parking. The property is zoned C-1 (Retail Commercial), offering flexibility for various business ventures, including owning a restaurant or creating another business. The building underwent several upgrades approximately two years ago, including a newer roof, siding, and insulation. Furniture and business assets are negotiable but are not included in the list price.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Waldport
    County
    Lincoln
    State
    Oregon
    Longitude
    -124.058947
    Latitude
    44.434101

    Nearby Similar for Sale

    • New
      $1,400,000
      6,902 SF

      Waldport Commercial Investment Opportunity

      Fully leased mini strip mall with high visibility and solid income.
      385 NE Alsea Hwy, Waldport, OR 97394
      View Details
    • New
      $895,000
      3,116 SF

      Mixed-Use Property with Expansion Potential

      Versatile property featuring residential and commercial units with expansion potential.
      220 NW Spring St, Waldport, OR 97394
      View Details
    • New
      $895,000
      3,116 SF

      Mixed-Use Property With Expansion Potential

      Versatile property with residential, commercial units, and expansion potential.
      220 NW Spring St, Waldport, OR 97394
      View Details
    • New
      $1,675,000
      8,641 SF

      Waldport Industrial Site For Sale

      4.42 acre industrial site with buildings and fenced yard.
      855 NE Alsea Hwy, Waldport, OR 97394
      View Details
    • New
      $749,000
      2,513 SF

      Versatile 1930s Mixed-Use Gem

      Historic 2-story building in Waldport with commercial and residential potential.
      260 W Willow St, Waldport, OR 97394
      View Details
    • New
      $74,000
      0.15 Acres

      Land in Gated Community

      Land in 55+ community with beach access and city services.
      TL-700 SW Sailfish Loop, Waldport, OR 97394
      View Details
    • $495,000
      3,500 SF

      Industrial Warehouse Space For Sale

      3,500 SF industrial warehouse property available for purchase.
      4029 SW Ann St, Waldport, OR 97394
      View Details
    • $750,000
      2,427 SF

      Waldport Commercial Building - Prime Location

      Versatile 2,427 sq ft commercial space, 0.12 acres.
      260 Willow St, Waldport, OR 97394
      View Details
    • $750,000
      2,427 SF

      Waldport Commercial Office Building

      Prime Waldport Office Space - Vacant
      260 Willow St, Waldport, OR 97394
      View Details
    • Contact for pricing
      3,500 SF

      Versatile Industrial Building Near Coast

      3,500 SF industrial building with office space in Waldport.
      4029 SW Ann St, Waldport, OR 97394
      View Details
    • Contact for pricing
      1,920 SF

      Downtown Waldport Commercial Warehouse Opportunity

      Commercial warehouse in downtown Waldport with Alsea Bridge views.
      425 NW Cedar St, Waldport, OR 97394
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Commercial building near Dock of the Bay Marina in Waldport.
    Where is this conventional restaurant located?
    The property is located at 1185 NE Mill St Waldport, OR.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: - Adjacent to Dock of the Bay Marina.; - Flexible C-1 (Retail Commercial) zoning allows for various business opportunities.; - Includes two tax lots: a .24 acre parcel with a 1440sf building and a .09 acre parking parcel.
    (541) 619-8382
    Request Owner's contact information
    1185 NE Mill St Waldport, OR 97394
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1185 NE Mill St
    Waldport, OR 97394
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1185 NE Mill St Waldport, OR 97394
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Brandon Hanson
    Brandon Hanson
    Real Estate License ID: 201206837
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!