Corner Restaurant with
For Sale
$599,000
145 2ND St, Bandon, OR 97411
CommercialSale, Bandon, OR
Property Size2,700 SF
Lot Size0.19 Acres
Price / SF$221.85
Days on Market314
Property Features for 145 2ND St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Directions
2nd Street and Alabama
Subdivision
_260
Standard status
Active
APN
2457501
Size
2,700 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
28 15 25AC 500 and 600
Tax Annual Amount
5017
Legal Description
28 15 25AC 500 and 600
Building Details
Year built
1937
Floors in Building
1
Building materials
CementSiding, CrawlSpace, Frame
Roof type
Composition
Listing Agency:
David L. Davis Real Estate
(541) 347-9444
Listed By:
Fred Gernandt · License #780501133
(541) 290-9444
Added: Oct 16, 2025
Changed: Aug 25
Last Checked: Aug 25 at 8:06AM
MLS# 749056983
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This conventional restaurant occupies a 2,700-square-foot building on a 0.19-acre parcel at 145 2nd St. The property includes three separate dining areas, restaurant equipment, and off-street parking. Originally constructed in 1937, the building was remodeled in 2004 and features cement siding, frame construction, a crawlspace, and a composition roof.
The restaurant sits near Bandon’s waterfront and benefits from 185' of road frontage. An adjoining hotel is also part of the immediate setting. The property carries C1 zoning and is located in Bandon, Oregon, within Coos County.
The restaurant sits near Bandon’s waterfront and benefits from 185' of road frontage. An adjoining hotel is also part of the immediate setting. The property carries C1 zoning and is located in Bandon, Oregon, within Coos County.
Key Highlights
- 2,700 SF restaurant building on a 0.19‑acre parcel
- 185' of road frontage at 145 2nd St, Bandon, OR 97411
- Three separate dining areas with restaurant 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
$28,166
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
4.70%
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%
$563,320
$563.3K
Cap Rate 7%
$402,371
$402.4K
Cap Rate 9%
$312,956
$313.0K
Market Conditions
NOI Build-Up for 2,700 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
$38.9K $14.40/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$37.6K $13.91/SF
− OpEx
−$9.4K −$3.48/SF
NOI
$28.2K $10.43/SF
Area
Coos County, OR
Vacancy
3.41%
Lease Rate
$14.40 /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%
$563,320
Cap Rate 7%
$402,371
Cap Rate 9%
$312,956
Alternative Uses
Best Use
Specialty Retail
$402.4K
$352.1K – $469.4K
NOI $28,166 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$488.8K
$427.7K – $570.2K
NOI $34,214 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97411, OR
7,572
Population
4,396
Households
1.7
Avg Household Size
59
Median Age
27%
College-Educated
95%
High-School Grad
128.6 sq mi
ZIP Area
59
Density / Sq Mi
$48,476
Median Household Income
$27,375
Median Earnings
$920
Median Rent
$425,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Three dining areas and off-street parking support restaurant operations.
Where is this conventional restaurant located?
The property is located at 145 2ND St Bandon, OR.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,700 SF restaurant building on a 0.19‑acre parcel; 185' of road frontage at 145 2nd St, Bandon, OR 97411; Three separate dining areas with restaurant equipment
