Restaurant
For Sale
$1,850,000
1619 N 1st St, Hermiston, OR 97838
Sale includes the building and underlying real property, with restaurant FF&E excluded.
Property Size6,773 SF
Price / SF$273.14
Days on Market26
Property Features for 1619 N 1st St
General Information
Standard status
Active
Size
6,773 SF
Additional Details
Traffic Count
18,600 vehicles/day
Equipment Included
No
Building Details
Year Built
2009
Listing Agency:
The Whitney Land Company
(509) 737-9429
Listed By:
Ashley Moala · License ##138102
Source:
Christiesrealestateevg
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 25 at 6:10AM
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 The Whitney Land Company
Investment Insights
Based on property information with market context.
The offering comprises a 6,773-square-foot restaurant building and the underlying real property at 1619 N 1st St in Hermiston. Constructed in 2009, the property previously operated as a Fuddruckers location. Restaurant furniture, fixtures, and equipment are not included in the offering; their availability may be negotiated separately.
The site is surrounded by established national and local retailers and records traffic of more than 18,600 cars per day, supporting a retail-oriented commercial setting.
The site is surrounded by established national and local retailers and records traffic of more than 18,600 cars per day, supporting a retail-oriented commercial setting.
Key Highlights
- 6,773‑square‑foot restaurant building
- Built in 2009
- Previously operated as a Fuddruckers location
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
$76,371
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
4.13%
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%
$1,527,420
$1.5M
Cap Rate 7%
$1,091,014
$1.1M
Cap Rate 9%
$848,567
$848.6K
Market Conditions
NOI Build-Up for 6,773 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
$108.1K $15.96/SF
− Vacancy
−$6.3K −$0.93/SF
EGI
$101.8K $15.03/SF
− OpEx
−$25.5K −$3.76/SF
NOI
$76.4K $11.28/SF
Area
Umatilla County, OR
Vacancy
5.80%
Lease Rate
$15.96 /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%
$1,527,420
Cap Rate 7%
$1,091,014
Cap Rate 9%
$848,567
Alternative Uses
Best Use
Specialty Retail
$1.09M
$954.6K – $1.27M
NOI $76,371 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,248 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18,600 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
305k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Superstores 23%
Home Improvements & Furnishings 13%
Shops & Services 12%
Walmart
Superstores
69,573 visits/mo
0.3 miles
McDonald's
Dining
32,070 visits/mo
0.2 miles
The Home Depot
Home Improvements & Furnishings
23,747 visits/mo
0.2 miles
Dutch Bros. Coffee
Dining
19,934 visits/mo
0.5 miles
Jack in the Box
Dining
16,138 visits/mo
0.2 miles
Demographics for 97838, OR
28,387
Population
10,166
Households
2.8
Avg Household Size
34
Median Age
15%
College-Educated
79%
High-School Grad
202.4 sq mi
ZIP Area
140
Density / Sq Mi
$76,032
Median Household Income
$40,698
Median Earnings
$1,046
Median Rent
$274,400
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 - Sale includes the building and underlying real property, with restaurant FF&E excluded.
Where is this conventional restaurant located?
The property is located at 1619 N 1st St Hermiston, OR.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 6,773‑square‑foot restaurant building; Built in 2009; Previously operated as a Fuddruckers location
