Restaurant and Bakery with
For Sale
$399,000
14836 STATE HIGHWAY 38, Elkton, OR 97436
CommercialSale, Elkton, OR
Property Size3,456 SF
Lot Size0.11 Acres
Price / SF$115.45
Days on Market557
Property Features for 14836 STATE HIGHWAY 38
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COM
View
City
Directions
HWY 38 to Elkton, on South side of highway
Subdivision
_265
Standard status
Active
APN
R19259
Size
3,456 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
ELKTON, BLOCK 2, LOT 5, ACRES 0.11
Tax Annual Amount
2854
Legal Description
ELKTON, BLOCK 2, LOT 5, ACRES 0.11
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
inviting patio
covered eating areas
Building Details
Year built
1951
Building materials
WoodSiding
Roof type
Metal
Listing Agency:
Madison & Beckley Realty Inc.
(541) 683-8800
Listed By:
Isaac Silva
(541) 206-8563
Added: Feb 15, 2025
Changed: Aug 25
Last Checked: Aug 26 at 3:06AM
MLS# 24584465
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 restaurant and bakery property offers 3456 square feet within a building constructed in 1951. The improvements include a wood-fired pizza oven, patio seating, and covered outdoor dining areas. The space can continue as a food-service operation or be adapted for another culinary use, as supported by the existing configuration.
The property occupies 0.11 acres at 14836 State Highway 38 in Elkton, Oregon, within a small riverfront community. It is zoned COM and features wood siding, a metal roof, and heat pump systems serving both heating and cooling needs.
The property occupies 0.11 acres at 14836 State Highway 38 in Elkton, Oregon, within a small riverfront community. It is zoned COM and features wood siding, a metal roof, and heat pump systems serving both heating and cooling needs.
Key Highlights
- 3456‑square‑foot restaurant and bakery property
- Wood‑fired pizza oven included
- Patio with covered outdoor dining areas
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
$20,926
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
5.24%
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%
$418,520
$418.5K
Cap Rate 7%
$298,943
$298.9K
Cap Rate 9%
$232,511
$232.5K
Market Conditions
NOI Build-Up for 3,456 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
$31.1K $9.00/SF
− Vacancy
−$1.2K −$0.35/SF
EGI
$29.9K $8.65/SF
− OpEx
−$9.0K −$2.59/SF
NOI
$20.9K $6.05/SF
Area
Douglas County, OR
Vacancy
3.89%
Lease Rate
$9.00 /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%
$418,520
Cap Rate 7%
$298,943
Cap Rate 9%
$232,511
Alternative Uses
Best Use
Specialty Retail
$598.2K
$523.4K – $697.9K
NOI $41,871 @ 7.0% cap · market cap 10.49%
Second Best
Retail
$587.9K
$514.4K – $685.9K
NOI $41,151 @ 7.0% cap · market cap 10.31%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97436, OR
789
Population
433
Households
1.8
Avg Household Size
55
Median Age
19%
College-Educated
98%
High-School Grad
96.7 sq mi
ZIP Area
8
Density / Sq Mi
$49,028
Median Household Income
$45,156
Median Earnings
$1,017
Median Rent
$330,800
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 - Commercial space includes a wood-fired pizza oven and covered outdoor dining.
Where is this conventional restaurant located?
The property is located at 14836 STATE HIGHWAY 38 Elkton, OR.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 3456‑square‑foot restaurant and bakery property; Wood‑fired pizza oven included; Patio with covered outdoor dining areas
