Commercial Kitchen with
For Sale
$525,000
719 1ST Ave, Seaside, OR 97138
Partially remodeled commercial property with an operating prep-kitchen layout, storefront presence, and unfinished additional space.
Property Size3,534 SF
Price / SF$148.56
Days on Market877
Property Features for 719 1ST Ave
General Information
Standard status
Active
Size
3,534 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$2,310
Amenities
3
C3
6 Parking Spaces.
Building Details
Year Built
1919
Listing Agency:
Popkin Real Estate, LLC
(503) 440-4200
Listed By:
Mark Popkin
(503) 440-4200
Source:
Xome
Added: Apr 9, 2024
Changed: Sep 1
Last Checked: Sep 1 at 3:40PM
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 Popkin Real Estate, LLC
Investment Insights
Based on property information with market context.
This 3,534-square-foot commercial property includes approximately 1,500 square feet configured as a commercial prep kitchen with storefront space. The balance of the building remains unfinished, allowing the next owner to address the space according to its plans. The property has been partially remodeled and was built in 1919.
Located in central Seaside at 719 1ST Ave Unit 719, the property includes 6 parking spaces and is identified with C3 zoning. The current tenant is expected to vacate, providing future control of the full premises for an owner or operator.
Located in central Seaside at 719 1ST Ave Unit 719, the property includes 6 parking spaces and is identified with C3 zoning. The current tenant is expected to vacate, providing future control of the full premises for an owner or operator.
Key Highlights
- Approximately 1,500sqft commercial prep kitchen with storefront
- 3,534‑square‑foot commercial property
- Remaining space is unfinished
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
$20,038
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
3.82%
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%
$400,760
$400.8K
Cap Rate 7%
$286,257
$286.3K
Cap Rate 9%
$222,644
$222.6K
Market Conditions
NOI Build-Up for 3,534 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
$31.8K $9.00/SF
− Vacancy
−$3.2K −$0.90/SF
EGI
$28.6K $8.10/SF
− OpEx
−$8.6K −$2.43/SF
NOI
$20.0K $5.67/SF
Area
Clatsop County, OR
Vacancy
10.00%
Lease Rate
$9.00 /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%
$400,760
Cap Rate 7%
$286,257
Cap Rate 9%
$222,644
Alternative Uses
Best Use
Retail
$775.7K
$678.8K – $905.0K
NOI $54,301 @ 7.0% cap · market cap 10.34%
Second Best
Specialty Retail
$748.3K
$654.8K – $873.1K
NOI $52,384 @ 7.0% cap · market cap 9.98%
Theoretical Best
Office A
$1.03M
$899.1K – $1.20M
NOI $71,924 @ 7.0% cap · market cap 13.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 97138, OR
11,248
Population
7,785
Households
1.4
Avg Household Size
48
Median Age
28%
College-Educated
92%
High-School Grad
146.0 sq mi
ZIP Area
77
Density / Sq Mi
$51,993
Median Household Income
$39,285
Median Earnings
$1,004
Median Rent
$433,200
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?
Commercial kitchen - Partially remodeled commercial property with an operating prep-kitchen layout, storefront presence, and unfinished additional space.
Where is this commercial kitchen located?
The property is located at 719 1ST Ave Seaside, OR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Approximately 1,500sqft commercial prep kitchen with storefront; 3,534‑square‑foot commercial property; Remaining space is unfinished
