Ocean-Side Office-Retail
For Sale
$3,000,000
531 N Highway 101, Depoe Bay, OR 97341
For sale mixed office and retail building along Oregon’s coastal corridor in a heavily traveled tourist destination.
Property Size11,240 SF
Price / SF$266.90
Days on Market1966
Property Features for 531 N Highway 101
General Information
Standard status
Active
Size
11,240 SF
Property subtype
Commercial
Building Details
Year Built
1978
Listing Agency:
Zenith Realty,LLC
Listed By:
Priscilla Beggs
(877) 319-7625
Source:
Century21northhomes
Added: Apr 13, 2021
Changed: Aug 27
Last Checked: Aug 29 at 10:49AM
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 Zenith Realty,LLC
Investment Insights
Based on property information with market context.
This offering is a large office-retail building configured to serve both business and storefront needs. The property is positioned on the ocean side of Highway 101 and is being marketed for investors and owner-users. Drive-bys are welcome, and current occupants should not be disturbed.
The building sits in Depoe Bay, Oregon, a popular coastal tourist destination. The Highway 101 location is described as heavily traveled, supporting steady visibility for retail and customer-facing uses, while the office component can support professional tenants requiring dedicated workspace.
For buyers looking for an owner-occupant arrangement, the mix of office and retail space may allow a single operator to combine back-office or professional functions with a storefront component. For investors, the same mix offers flexibility for tenanting different use types within one building. The seller is motivated and is seeking an acceptable offer as soon as possible.
The building sits in Depoe Bay, Oregon, a popular coastal tourist destination. The Highway 101 location is described as heavily traveled, supporting steady visibility for retail and customer-facing uses, while the office component can support professional tenants requiring dedicated workspace.
For buyers looking for an owner-occupant arrangement, the mix of office and retail space may allow a single operator to combine back-office or professional functions with a storefront component. For investors, the same mix offers flexibility for tenanting different use types within one building. The seller is motivated and is seeking an acceptable offer as soon as possible.
Key Highlights
- Mixed office and retail building along Oregon’s coastal corridor in Depoe Bay
- Year built: 1978
- Large office‑retail building on the ocean side of Hwy 101 in a heavily traveled tourist destination
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
$136,795
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
4.56%
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%
$2,735,900
$2.7M
Cap Rate 7%
$1,954,214
$2.0M
Cap Rate 9%
$1,519,944
$1.5M
Market Conditions
NOI Build-Up for 11,240 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
$202.3K $18.00/SF
− Vacancy
−$6.9K −$0.61/SF
EGI
$195.4K $17.39/SF
− OpEx
−$58.6K −$5.22/SF
NOI
$136.8K $12.17/SF
Area
Lincoln County, OR
Vacancy
3.41%
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%
$2,735,900
Cap Rate 7%
$1,954,214
Cap Rate 9%
$1,519,944
Alternative Uses
Best Use
Retail
$1.95M
$1.71M – $2.28M
NOI $136,795 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.93M
$2.57M – $3.42M
NOI $205,223 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
Explore this area
Business Placement
Demographics for 97341, OR
2,659
Population
2,693
Households
1
Avg Household Size
60
Median Age
32%
College-Educated
98%
High-School Grad
9.9 sq mi
ZIP Area
269
Density / Sq Mi
$62,917
Median Household Income
$47,273
Median Earnings
$1,316
Median Rent
$344,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - For sale mixed office and retail building along Oregon’s coastal corridor in a heavily traveled tourist destination.
Where is this retail space located?
The property is located at 531 N Highway 101 Depoe Bay, OR.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Mixed office and retail building along Oregon’s coastal corridor in Depoe Bay; Year built: 1978; Large office‑retail building on the ocean side of Hwy 101 in a heavily traveled tourist destination
