Cottage-Style Office
For Sale
$395,000
120 NW Highway 101, Waldport, OR 97394
Two-level commercial property with private offices, open workspace, kitchenette, parking, and separate entrances.
Property Size1,332 SF
Days on Market57
Property Features for 120 NW Highway 101
General Information
Standard status
Active
Size
1,332 SF
Total Parking Spaces
4
Property subtype
Commercial
Zoning
M-P
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,038
Amenities
ADA-compliant restroom
kitchenette
two separate entrances
Building Details
Building Size
1,332 SF
Year Built
2015
Buildings
1
Stories
2
Construction
cottage-style
Tenancy
Single
Owner Occupied
No
Listing Agency:
Coldwell Banker Professional
(541) 418-3101
Listed By:
Hannah Katz · License #201231711
(541) 418-3101
Source:
Metanars
Added: Jul 6
Changed: Aug 29
Last Checked: Aug 30 at 5:38PM
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 Coldwell Banker Professional
Investment Insights
Based on property information with market context.
This 2015 office building at 120 NW Highway 101 features a two-level configuration designed for professional use. The main floor includes three private offices, a reception and lobby area, and an ADA-compliant restroom. Upstairs provides an open workspace with abundant natural light, multiple workstation areas, a kitchenette, and a second restroom. Two separate entrances support flexible access between the levels. The property also includes a paved parking lot with four dedicated spaces and ADA accessibility.
Positioned along Highway 101 in Waldport's Downtown District, the building is one block from Alsea Bay and minutes from Oregon Coast beaches. The property is zoned M-P and currently occupied by a tenant. The sale includes the building only; the business is excluded.
Positioned along Highway 101 in Waldport's Downtown District, the building is one block from Alsea Bay and minutes from Oregon Coast beaches. The property is zoned M-P and currently occupied by a tenant. The sale includes the building only; the business is excluded.
Key Highlights
- 2015 office building with two‑level layout
- Three private offices plus reception and lobby areas
- Upper‑level open workspace with kitchenette and multiple workstation areas
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
$20,492
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
5.19%
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%
$409,840
$409.8K
Cap Rate 7%
$292,743
$292.7K
Cap Rate 9%
$227,689
$227.7K
Market Conditions
NOI Build-Up for 1,332 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
$35.5K $26.64/SF
− Vacancy
−$8.2K −$6.13/SF
EGI
$27.3K $20.51/SF
− OpEx
−$6.8K −$5.13/SF
NOI
$20.5K $15.38/SF
Area
Lincoln County, OR
Vacancy
23.00%
Lease Rate
$26.64 /SF/Yr
Expense Ratio
25.00%
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%
$409,840
Cap Rate 7%
$292,743
Cap Rate 9%
$227,689
Alternative Uses
Best Use
Office B
$292.7K
$256.2K – $341.5K
NOI $20,492 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$347.4K
$304.0K – $405.3K
NOI $24,320 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 97394, OR
5,361
Population
3,686
Households
1.5
Avg Household Size
59
Median Age
28%
College-Educated
95%
High-School Grad
51.7 sq mi
ZIP Area
104
Density / Sq Mi
$57,708
Median Household Income
$31,690
Median Earnings
$1,104
Median Rent
$354,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-level commercial property with private offices, open workspace, kitchenette, parking, and separate entrances.
Where is this office building located?
The property is located at 120 NW Highway 101 Waldport, OR.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2015 office building with two‑level layout; Three private offices plus reception and lobby areas; Upper‑level open workspace with kitchenette and multiple workstation areas
