Mixed-Use Property with Restaurant
For Sale
$900,000
1445 S Roosevelt Dr, Seaside, OR 97138
Corner-lot commercial building with two apartments, restaurant infrastructure, and private paved parking.
Property Size5,346 SF
Lot Size0.36 Acres
Price / SF$168.35
Days on Market11
Property Features for 1445 S Roosevelt Dr
General Information
Standard status
Active
Size
5,346 SF
Lot size
0.36 Acres
Property subtype
Commercial
Zoning
C3
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$9,896
Building Details
Building Size
5,346 SF
Year Built
1946
Buildings
1
Stories
2
Listing Agency:
Heron Realty
(503) 440-0130
Listed By:
Cindy Hawkins Colley · License #980100124
(503) 440-0130
Source:
Allprofessionalsre
Added: Aug 10
Changed: Aug 20
Last Checked: Aug 20 at 5:26AM
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 Heron Realty
Investment Insights
Based on property information with market context.
This mixed-use property includes a 5,346-square-foot commercial building on a 0.36-acre corner lot with C3 zoning. The commercial area was formerly configured as a restaurant and retains a walk-in cooler, prep tables, grill hood, stove, fire sprinkler system, booths, tables, and other remaining fixtures. The sale includes the land, building, and restaurant equipment. A new roof was installed in 2019.
Two residential apartments are located on-site, consisting of one 3-bedroom unit and one 1-bedroom unit. The property also provides a private paved parking lot and direct access to S Roosevelt Drive, identified as Hwy 101. The existing layout supports continued restaurant use or conversion to retail or office space, with the residential units adding a live-work component.
Two residential apartments are located on-site, consisting of one 3-bedroom unit and one 1-bedroom unit. The property also provides a private paved parking lot and direct access to S Roosevelt Drive, identified as Hwy 101. The existing layout supports continued restaurant use or conversion to retail or office space, with the residential units adding a live-work component.
Key Highlights
- 5,346‑square‑foot building on a 0.36‑acre corner lot
- C3 zoning with direct access to S Roosevelt Drive, identified as Hwy 101
- Two on‑site apartments: one 3‑bedroom unit and one 1‑bedroom unit
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
$79,244
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
8.80%
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%
$1,584,880
$1.6M
Cap Rate 7%
$1,132,057
$1.1M
Cap Rate 9%
$880,489
$880.5K
Market Conditions
NOI Build-Up for 5,346 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
$117.4K $21.96/SF
− Vacancy
−$11.7K −$2.20/SF
EGI
$105.7K $19.76/SF
− OpEx
−$26.4K −$4.94/SF
NOI
$79.2K $14.82/SF
Area
Clatsop County, OR
Vacancy
10.00%
Lease Rate
$21.96 /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%
$1,584,880
Cap Rate 7%
$1,132,057
Cap Rate 9%
$880,489
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.50M
NOI $89,761 @ 7.0% cap · market cap 9.97%
Second Best
Specialty Retail
$1.13M
$990.6K – $1.32M
NOI $79,244 @ 7.0% cap · market cap 8.80%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,802 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Commercial hood
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner-lot commercial building with two apartments, restaurant infrastructure, and private paved parking.
Where is this mixed-use property located?
The property is located at 1445 S Roosevelt Dr Seaside, OR.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 5,346‑square‑foot building on a 0.36‑acre corner lot; C3 zoning with direct access to S Roosevelt Drive, identified as Hwy 101; Two on‑site apartments: one 3‑bedroom unit and one 1‑bedroom unit
