Downtown Storefront
New
For Sale
$315,000
190 E Main St, Hermiston, OR 97838
A current tenant occupies this C-1 commercial property, with a rear entry leading to a parking lot.
Property Size2,989 SF
Price / SF$105.39
Days on Market4
Property Features for 190 E Main St
General Information
Standard status
Active
Size
2,989 SF
Zoning
C-1
Building Details
Year Built
1945
Buildings
1
Tenancy
Single
Listing Agency:
Boylan Realty LLC
Listed By:
Michael Boylan · License #201213844
(541) 561-7017
Source:
Evokepropertypartners
Added: Oct 1
Changed: Oct 2
Last Checked: Oct 4 at 1:59PM
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 Boylan Realty LLC
Investment Insights
Based on property information with market context.
Built in 1945, this 2,989-square-foot storefront property has a large glass display window and a new front door opening onto Main Street. A rear entrance connects the building to a parking lot behind it. The sale covers the real estate only; the tenant’s business is excluded.
The property is at 190 E Main St in downtown Hermiston, near the intersection of Main Street and NE 2nd Street. Businesses, restaurants, shopping, and community events are part of the surrounding Festival Street corridor. The building is zoned C-1.
The property is at 190 E Main St in downtown Hermiston, near the intersection of Main Street and NE 2nd Street. Businesses, restaurants, shopping, and community events are part of the surrounding Festival Street corridor. The building is zoned C-1.
Key Highlights
- 2,989‑square‑foot commercial building constructed in 1945
- C‑1 zoning
- Large glass storefront and recently installed front door facing Main Street
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
$28,864
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
9.16%
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%
$577,280
$577.3K
Cap Rate 7%
$412,343
$412.3K
Cap Rate 9%
$320,711
$320.7K
Market Conditions
NOI Build-Up for 2,989 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
$43.0K $14.40/SF
− Vacancy
−$1.8K −$0.60/SF
EGI
$41.2K $13.80/SF
− OpEx
−$12.4K −$4.14/SF
NOI
$28.9K $9.66/SF
Area
Umatilla County, OR
Vacancy
4.20%
Lease Rate
$14.40 /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%
$577,280
Cap Rate 7%
$412,343
Cap Rate 9%
$320,711
Alternative Uses
Best Use
Retail
$412.3K
$360.8K – $481.1K
NOI $28,864 @ 7.0% cap · market cap 9.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$625.7K
$547.5K – $730.0K
NOI $43,799 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
821
Businesses Nearby
95k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Shops & Services 42%
Electronics 10%
Hotels & Casinos 5%
Dutch Bros. Coffee
Dining
19,934 visits/mo
0.4 miles
Bi-Mart
Shops & Services
14,660 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,926 visits/mo
0.4 miles
Les Schwab Tire Center
Shops & Services
7,552 visits/mo
0.4 miles
Verizon
Electronics
5,937 visits/mo
0.3 miles
Demographics for 97838, OR
28,387
Population
10,166
Households
2.8
Avg Household Size
34
Median Age
15%
College-Educated
79%
High-School Grad
202.4 sq mi
ZIP Area
140
Density / Sq Mi
$76,032
Median Household Income
$40,698
Median Earnings
$1,046
Median Rent
$274,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- Hermiston Floral Shop — 174 W Hermiston Ave, Hermiston, OR 97838
- Sassafras Flowers by Shera — 379 E Main St, Hermiston, OR 97838
Frequently Asked Questions
What type of property is this?
Storefront property - A current tenant occupies this C-1 commercial property, with a rear entry leading to a parking lot.
Where is this storefront property located?
The property is located at 190 E Main St Hermiston, OR.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2,989‑square‑foot commercial building constructed in 1945; C‑1 zoning; Large glass storefront and recently installed front door facing Main Street
