Building Details

Year Built 1927

Listing Agency: EXP REALTY, LLC

Listed By: NATASHA STILLE · License #201238598 Show Phone

Source: Wisser

Added: Sep 1 Last Checked: Sep 2 at 7:21PM

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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 EXP REALTY, LLC

Investment Insights

Based on property information with market context.

This retail property encompasses 1,800 square feet on one acre and is currently operated as an antique collective. The building previously served as a grange hall and includes several completed improvements, including an updated electrical panel, remodeled bathroom, recent roof repair, and chimney work.

The property is zoned EFU, with acceptable uses subject to buyer due diligence. Water and wastewater infrastructure include an inspected well and a septic tank pumped in 2026. The property is located at 13651 River Road Northeast in Gervais, Oregon.

Key Highlights

• 1,800‑square‑foot retail building on one acre
• Currently operated as an antique collective
• Former grange hall with updated electrical panel

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

$21,705

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

6.68%

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%

$434,100 $434.1K

Cap Rate 7%

$310,071 $310.1K

Cap Rate 9%

$241,167 $241.2K

Market Conditions

NOI Build-Up for 1,800 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

$32.4K $18.00/SF

− Vacancy

−$1.4K −$0.77/SF

EGI

$31.0K $17.23/SF

− OpEx

−$9.3K −$5.17/SF

NOI

$21.7K $12.06/SF

Area

Marion County, OR

Vacancy

4.30%

Lease Rate

$18.00 /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%

$434,100

Cap Rate 7%

$310,071

Cap Rate 9%

$241,167

Alternative Uses

Best Use

Retail

$310.1K

$271.3K – $361.8K (±1% cap)

NOI $21,705 @ 7.0% cap · market cap 6.68%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$423.3K

$370.4K – $493.9K (±1% cap)

NOI $29,633 @ 7.0% cap · market cap 9.12%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Fairfield Grange Community Center

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store 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

4

Businesses Nearby

Explore this area Business Placement

Demographics for 97026, OR

4,076

Population

1,196

Households

3.4

Avg Household Size

32

Median Age

15%

College-Educated

78%

High-School Grad

33.8 sq mi

ZIP Area

121

Density / Sq Mi

$89,630

Median Household Income

$39,826

Median Earnings

$1,689

Median Rent

$354,700

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

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Frequently Asked Questions

What type of property is this?

Retail space - Retail property with updated electrical, bathroom improvements, and recent roof and chimney work.

Where is this retail space located?

The property is located at 13651 NE River Rd Gervais, OR.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 1,800‑square‑foot retail building on one acre; Currently operated as an antique collective; Former grange hall with updated electrical panel