Building Details

Year Built 1993

Buildings 3

Listing Agency: Barclay-Properties LLC

Listed By: Nancy Moore · License #201211803 Show Phone

Source: Wisser

Added: Jul 21 Changed: Oct 3 Last Checked: Oct 5 at 10:26PM

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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 Barclay-Properties LLC

Investment Insights

Based on property information with market context.

This flex-space property includes three remodeled buildings arranged for office, living, and workshop use. Improvements to the office/living building include foundation work, insulation, sheetrock, windows, a patio door, roofing, heating and air conditioning, an electrical panel, kitchen, and interior and exterior paint. The larger 25-by-40-foot shop has three pull-up doors, while a separate 20-by-35-foot garage/shop may be rewired for 600 amps. The property has 200 feet of frontage along Highway 101 at 20 Willow St in Depoe Bay, Oregon. Commercial zoning supports a range of business-oriented uses, and the site includes room for equipment and RVs. County confirmation indicates that the vacant lot can connect to county water and sewer service.

Key Highlights

• Three remodeled buildings with office, living, and shop components
• 200 feet of frontage along Highway 101
• 25'x40' shop with 3 large pull‑up doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,728

Cap Rate

4.50%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$854,560 $854.6K

Cap Rate 7%

$610,400 $610.4K

Cap Rate 9%

$474,756 $474.8K

Market Conditions

NOI Build-Up for 3,480 SF

Gross rent

$52.2K $15.00/SF

− Vacancy

−$1.9K −$0.56/SF

EGI

$50.3K $14.45/SF

− OpEx

−$7.5K −$2.17/SF

NOI

$42.7K $12.28/SF

Area

Lincoln County, OR

Vacancy

3.70%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$854,560

Cap Rate 7%

$610,400

Cap Rate 9%

$474,756

Alternative Uses

Best Use

Warehouse

$610.4K

$534.1K – $712.1K (±1% cap)

NOI $42,728 @ 7.0% cap · market cap 4.50%

Second Best

Industrial

$502.7K

$439.9K – $586.5K (±1% cap)

NOI $35,188 @ 7.0% cap · market cap 3.70%

Theoretical Best

Office A

$907.7K

$794.2K – $1.06M (±1% cap)

NOI $63,539 @ 7.0% cap · market cap 6.69%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Parking Lot & Garage Building Supply Auto Repair Shop Storage Facility (Bike/Boat/Book/etc) Store Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

61

Businesses Nearby

Well-served

Demand for This Use

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 Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Three updated buildings provide office, living, and workshop functionality within a commercially zoned property.

Where is this flex space located?

The property is located at 20 Willow St Depoe Bay, OR.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: Three remodeled buildings with office, living, and shop components; 200 feet of frontage along Highway 101; 25'x40' shop with 3 large pull‑up doors