Historic Creative Space with Wood
For Sale
$265,000
151 NE Alder Street, Toledo, OR 97391
Commercial Sale, Toledo, OR
Property Size1,283 SF
Lot Size0.02 Acres
Price / SF$206.55
Days on Market152
Property Features for 151 NE Alder Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C - Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Basement
Parking features
On Street
Window features
Vinyl Frames
Basement
Full, Finished, Exterior Entry, Concrete
Subdivision
Toledo 4th Addition
Lot features
Sloped
Directions
From HW Y20 take exit to Bus US-20 towards downtown Toledo. Turn right onto NE Alder. Property will be on right - 151 NE Alder St, Toledo
Standard status
Active
APN
11-10-17-BB-13800-00
Size
1,283 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Zoned
Water source
Public
Amenities
shared gated entrance
brick patio
Building Details
Year built
1915
Floors in Building
2
Flooring type
Wood
Building materials
Lap Siding
Roof type
Composition, Metal
Listing Agency:
Windermere West Coast Properties
Listed By:
Deanna Christine Watkins · License #200804085
(541) 265-5455
Added: Jun 1
Changed: Oct 29
Last Checked: Oct 29 at 11:06PM
MLS# 26-1517
Copyright © 2026 Oregon Coast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,283-square-foot creative space dates to 1915 and sits on a 0.02-acre lot. The interior features wood flooring, tall windows, and a spacious central hall with high ceilings. A bathroom and basement are also present. Exterior construction includes lap siding, with composition and metal roofing. Heating is electric and zoned.
A shared gated entrance serves the property and leads to a brick patio. It is zoned C - Commercial, with public water and public sewer. Parking is on street.
A shared gated entrance serves the property and leads to a brick patio. It is zoned C - Commercial, with public water and public sewer. Parking is on street.
Key Highlights
- 1,283 square feet on a 0.02‑acre lot
- Built in 1915
- Central hall with high ceilings and tall windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,738
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,760
$394.8K
Cap Rate 7%
$281,971
$282.0K
Cap Rate 9%
$219,311
$219.3K
Market Conditions
NOI Build-Up for 1,283 SF
Gross rent
$34.2K $26.64/SF
− Vacancy
−$7.9K −$6.13/SF
EGI
$26.3K $20.51/SF
− OpEx
−$6.6K −$5.13/SF
NOI
$19.7K $15.38/SF
Area
Lincoln County, OR
Vacancy
23.00%
Lease Rate
$26.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,760
Cap Rate 7%
$281,971
Cap Rate 9%
$219,311
Alternative Uses
Best Use
Office B
$282.0K
$246.7K – $329.0K
NOI $19,738 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$334.6K
$292.8K – $390.4K
NOI $23,425 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
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Business Placement
Demographics for 97391, OR
5,610
Population
2,478
Households
2.3
Avg Household Size
42
Median Age
23%
College-Educated
86%
High-School Grad
115.3 sq mi
ZIP Area
49
Density / Sq Mi
$57,793
Median Household Income
$35,241
Median Earnings
$1,046
Median Rent
$355,100
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Creative space - Built in 1915, the property has a large central hall, tall windows, and a brick patio.
Where is this creative space located?
The property is located at 151 NE Alder Street Toledo, OR.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1,283 square feet on a 0.02‑acre lot; Built in 1915; Central hall with high ceilings and tall windows
