Historic Mixed-Use Retail
144 S Main St Independence, OR 97351
For Sale
Contact for pricing
Restored storefront building offers versatile ground-floor space with a 2-bedroom apartment above and an oversized 2-car garage.
Property Size5,150 SF
Price / SF$203.88
Days on Market584
Property Features for 144 S Main St
General Information
Standard status
Active
Size
5,150 SF
Property subtype
RETAIL
Listing Agency:
Coho Commercial
(503) 385-8835
Listed By:
Peter Braunworth · License #200603159
(503) 385-8835
Source:
Moodyscre
Added: Dec 23, 2024
Changed: Jul 26
Last Checked: Jul 29 at 2:23PM
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 Coho Commercial
Investment Insights
Based on property information with market context.
Introducing the historic “Belt Building” in downtown Independence, OR, a fully renovated mixed-use property featuring retail-ready ground-floor space. The building includes a spacious 2-bedroom, 1-bathroom apartment upstairs with laundry facilities.
Fronting Main Street, the property is directly across from the fountain at Riverfront Park. In addition to the main structure, there is an oversized 2-car garage with high ceilings and a restroom.
The ground floor is described as suitable for retail, office, or food service use, and the property has been restored and structurally reinforced. Please do not enter the property without an appointment; contact the listing broker for questions or to schedule a showing.
Fronting Main Street, the property is directly across from the fountain at Riverfront Park. In addition to the main structure, there is an oversized 2-car garage with high ceilings and a restroom.
The ground floor is described as suitable for retail, office, or food service use, and the property has been restored and structurally reinforced. Please do not enter the property without an appointment; contact the listing broker for questions or to schedule a showing.
Key Highlights
- Historic “Belt Building” on Main Street in downtown Independence, OR, across from the fountain at Riverfront Park
- Fully renovated and structurally reinforced building formerly housing Main Street Antiques
- Versatile ground‑floor space suitable for retail, office, or food service use
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $111.2k | $21.60 |
| − Vacancy | −$16.7k | −$3.24 |
| EGI | $94.6k | $18.36 |
| − OpEx | −$23.6k | −$4.59 |
| NOI | $70.9k | $13.77 |
5,150 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.01M
$886.5K – $1.18M
NOI $70,916 @ 7.0% cap · market cap 6.75%
Second Best
Retail
$885.3K
$774.6K – $1.03M
NOI $61,970 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,716 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Ruby Rose, Floral, Plants & Gifts — 413 S Main St, Independence, OR 97351
Frequently Asked Questions
What type of property is this?
Storefront property - Restored storefront building offers versatile ground-floor space with a 2-bedroom apartment above and an oversized 2-car garage.
Where is this storefront property located?
The property is located at 144 S Main St Independence, OR.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Historic “Belt Building” on Main Street in downtown Independence, OR, across from the fountain at Riverfront Park; Fully renovated and structurally reinforced building formerly housing Main Street Antiques; Versatile ground‑floor space suitable for retail, office, or food service use
