Building Details

Year built 1951

Building materials WoodSiding

Roof type Metal

Listing Agency: Madison & Beckley Realty Inc. i***@madisonbeckley.com Show Phone

Listed By: Isaac Silva Show Phone

Added: Feb 15, 2025 Changed: Aug 25 Last Checked: Oct 10 at 10:06AM

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MLS# 24584465

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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.

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 / Yr

$20,926

Cap Rate

5.24%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $41,871 @ 7.0% cap · market cap 10.49%

Second Best

Retail

$587.9K

$514.4K – $685.9K (±1% cap)

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

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Current Use

Conventional restaurants

Suggested Use

Top Pick Discount Store Real Estate Agency Bed & Breakfast Restaurant Department Store Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

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?

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