Building Details

Year Built 1972

Listing Agency: The Running Group

Listed By: Kip Running Show Phone

Source: Wyndeekono

Added: Sep 4 Last Checked: Aug 25 at 5:52AM

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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 The Running Group

Investment Insights

Based on property information with market context.

Located at 171 Sunset Blvd in Cannon Beach, this mixed-use property combines space suited to an owner-user with apartment spaces. The property is positioned across the street from Pelican Brew Pub and is offered in AS IS condition.

Key Highlights

• Mixed‑use property at 171 SUNSET BLVD, Cannon Beach, OR 97110
• Space available for an owner‑user
• Apartment spaces available

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

$149,043

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

5.52%

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%

$2,980,860 $3.0M

Cap Rate 7%

$2,129,186 $2.1M

Cap Rate 9%

$1,656,033 $1.7M

Market Conditions

NOI Build-Up for 9,700 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

$313.1K $32.28/SF

− Vacancy

−$100.2K −$10.33/SF

EGI

$212.9K $21.95/SF

− OpEx

−$63.9K −$6.59/SF

NOI

$149.0K $15.37/SF

Area

Clatsop County, OR

Vacancy

32.00%

Lease Rate

$32.28 /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%

$2,980,860

Cap Rate 7%

$2,129,186

Cap Rate 9%

$1,656,033

Alternative Uses

Best Use

Retail

$2.13M

$1.86M – $2.48M (±1% cap)

NOI $149,043 @ 7.0% cap · market cap 5.52%

Second Best

Mixed Use

$914.6K

$800.3K – $1.07M (±1% cap)

NOI $64,020 @ 7.0% cap · market cap 2.37%

Theoretical Best

Office A

$2.82M

$2.47M – $3.29M (±1% cap)

NOI $197,414 @ 7.0% cap · market cap 7.31%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Cannon Beach Fitness Gym & Fitness Center Cleanline Surf (Bike/Boat/Book/etc) Store Michaels Music (Bike/Boat/Book/etc) Store Cameron Francey Health ... Gym & Fitness Center Copies & Fax Shipping Company

Suggested Use

Top Pick Electrical Service Plumbing Service (Bike/Boat/Book/etc) Store Auto Parts Store Storage Facility Garden Center

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

Location Intelligence

Trade Area within ½ mile

229

Businesses Nearby

Explore this area Business Placement

Demographics for 97110, OR

1,290

Population

1,656

Households

0.8

Avg Household Size

53

Median Age

44%

College-Educated

98%

High-School Grad

6.1 sq mi

ZIP Area

211

Density / Sq Mi

$68,923

Median Household Income

$42,150

Median Earnings

$1,121

Median Rent

$740,100

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - The property includes space for an owner-user and apartment occupancy.

Where is this mixed-use property located?

The property is located at 171 Sunset Blvd Cannon Beach, OR.

What is the asking price?

The asking price for this property is $2,700,000.

What are key features of this property?

This property features: Mixed‑use property at 171 SUNSET BLVD, Cannon Beach, OR 97110; Space available for an owner‑user; Apartment spaces available