Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Sheridan, OR 97378

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $399,000

    3,552 SF building with potential for various uses.

    Property size:
    3,552 SF

    Property Features for

    General Information

    Size
    3,552 SF

    Building Details

    Year built
    1930

    We can help!

    Listing Contact
    Nick Williams, CCIM
    Source: Corfac

    Listing Agent: Nick Williams, CCIM

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

    Learn more

    Overview

    Sheridan Masonic Lodge Opportunity

    Located at 240 NW Washington St in Sheridan, Oregon, this 3,552 SF property presents a unique opportunity for a special purpose investor. Currently a vacant Masonic lodge, the building offers potential for various uses. The property is situated in a residential area near the downtown core of Sheridan, which is experiencing a transformation from a timber town. Significant employers in the area include the FCI (Federal Corrections Institution), Forest River, Sheridan School District, and PGE (substation). Economic developments on the horizon include the Virginia Garcia Clinic and further growth of Spirit Mountain Casino. The building's current use as a Masonic lodge offers a peaceful setting for buyers to further its use as a spiritual center, such as a church. With ample plumbing and healthy mechanical systems, there is also potential for converting the property into a multifamily property with two or more units. The City of Sheridan is exploring partnerships for non-motorized boating to stimulate tourism along the Yamhill River. Sheridan possesses a stable economic base. Buyers are responsible for due diligence.
    Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Map

    City
    Sheridan
    County
    Yamhill
    State
    Oregon
    Longitude
    -123.455
    Latitude
    45.0728

    Nearby Similar for Sale

    • $250,000
      13,594 SF

      Heider Building Rehabilitation Opportunity

      Mixed-use building with retail and apartment units, potential grant money.
      219 S Bridge St, Sheridan, OR 97378
      View Details
    • $399,000
      3,552 SF

      Sheridan Masonic Lodge Opportunity

      3,552 SF building with potential for various uses.
      240 NW Washington St, Sheridan, OR 97378
      View Details
    • $185,000
      1,344 SF

      Sheridan Senior Community Home

      Charming 3BR/2BA home in a well-kept 55+ community park.
      503 SE Sheridan Rd, Sheridan, OR 97378
      View Details
    • $285,000

      Move-In Ready Home Near Downtown

      Immaculate 3-bedroom home with garage, fruit trees, and accessibility.
      220 NE Hill St, Sheridan, OR 97378
      View Details
    • $250,000
      5,800 SF

      Redevelopment Opportunity by South Yamhill

      Riverside redevelopment opportunity with updated foundation, electric, and grease trap.
      124 E Main St, Sheridan, OR 97378
      View Details
    • Contact for pricing
      5,800 SF

      Sheridan Riverside Redevelopment Opportunity

      Redevelopment opportunity with updated foundation, electrical, and grease trap.
      124 E Main St, Sheridan, OR 97378
      View Details
    • $1,195,000

      Irrigated Farm with River Access

      Irrigated farm featuring water rights, outbuildings, and river frontage.
      33100 W Valley Hwy, Sheridan, OR 97378
      View Details
    • $750,000
      1,668 SF

      Sheridan Commercial Land & Building

      Prime Sheridan location, 1.55 acres, redevelopment potential.
      819 Main St, Sheridan, OR 97378
      View Details
    • $450,000
      5,800 SF

      Sheridan Riverfront Restaurant Opportunity

      Prime Riverside Location, Needs Finishing
      Sheridan, OR 97378
      View Details
    • $399,000
      3,552 SF

      Sheridan, OR Commercial Property

      Prime Sheridan location, 3,552 sq ft building.
      Sheridan, OR 97378
      View Details
    • Contact for pricing
      5,800 SF

      Sheridan OR Riverside Restaurant

      Prime Riverside Restaurant Opportunity
      124 Main St, Sheridan, OR 97378
      View Details
    • $415,000
      13,594 SF

      Sheridan Retail & Apartment Building

      Historic building, retail & apartments, high potential.
      Bridge St, Sheridan, OR 97378
      View Details

    FAQs

    What type of property is this?
    Church & religious facility - 3,552 SF building with potential for various uses.
    Where is this church & religious facility located?
    The property is located at Sheridan, OR.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: - 3,552 SF building with potential for various uses.; - Ample plumbing and healthy mechanical systems in place.; - Located near downtown core.
    (503) 569-4449
    Request Owner's contact information
    Sheridan, OR 97378
    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.
    Sheridan, OR 97378
    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
    Sheridan, OR 97378
    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
    Nick Williams, CCIM
    (503) 569-4449
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.