Building Details

Year Built 1983

Buildings 2

Stories 1

Tenancy Single

Listing Agency: Pacific Properties j***@pacificpropertiesteam.com Show Phone

Listed By: Joel Sweet · License #201214598

Source: Crexi

Added: Dec 5, 2023 Changed: Aug 8 Last Checked: Aug 10 at 10:36AM

Report an Issue

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 Pacific Properties

Investment Insights

Based on property information with market context.

This waterfront restaurant is located in the Winchester Bay Harbor. The sale includes the building, business, furniture, fixtures, and equipment, conveyed as a turn-key restaurant and seafood market. The dining room seats 50 and offers views of the harbor and ocean. The property features a fully equipped kitchen and separate seafood processing facilities. The restaurant has an established menu and customer base. The building is suitable for multiple uses. The property size is 1896 square feet. The land is leased from the Port at $420 per month.

Key Highlights

• Turn‑key restaurant and seafood market business opportunity.
• Waterfront location in Winchester Bay Harbor with views.
• Includes building, business, furniture, fixtures, and equipment.

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

$22,971

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

7.68%

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%

$459,420 $459.4K

Cap Rate 7%

$328,157 $328.2K

Cap Rate 9%

$255,233 $255.2K

Market Conditions

NOI Build-Up for 1,896 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

$32.3K $17.04/SF

− Vacancy

−$1.7K −$0.89/SF

EGI

$30.6K $16.15/SF

− OpEx

−$7.7K −$4.04/SF

NOI

$23.0K $12.12/SF

Area

Douglas County, OR

Vacancy

5.20%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

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%

$459,420

Cap Rate 7%

$328,157

Cap Rate 9%

$255,233

Alternative Uses

Best Use

Specialty Retail

$328.2K

$287.1K – $382.9K (±1% cap)

NOI $22,971 @ 7.0% cap · market cap 7.68%

Second Best

Retail

$322.5K

$282.2K – $376.3K (±1% cap)

NOI $22,576 @ 7.0% cap · market cap 7.55%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Conventional restaurants

Location Intelligence

Trade Area within ½ mile

91

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 97467, OR

5,602

Population

2,816

Households

2

Avg Household Size

53

Median Age

14%

College-Educated

93%

High-School Grad

327.9 sq mi

ZIP Area

17

Density / Sq Mi

$58,333

Median Household Income

$41,441

Median Earnings

$750

Median Rent

$224,100

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 conventional restaurants located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Turn-key restaurant and seafood market with harbor views.

Where is this conventional restaurant located?

The property is located at 142 Bayfront Loop Winchester Bay, OR.

What is the asking price?

The asking price for this property is $299,000.

What are key features of this property?

This property features: Turn‑key restaurant and seafood market business opportunity.; Waterfront location in Winchester Bay Harbor with views.; Includes building, business, furniture, fixtures, and equipment.