Building Details

Building Size 2,800 SF

Year Built 2003

Buildings 1

Stories 1

Listing Agency: Premiere Property Group, LLC

Listed By: Theresa Monahan Show Phone

Source: Duanejohnson

Added: Oct 22 Changed: Oct 23 Last Checked: Oct 23 at 3:54PM

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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 Premiere Property Group, LLC

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Investment Insights

Based on property information with market context.

This convenience store property consists of a 2,800-square-foot building on a 0.32-acre site. The improvements date to 2003, and the property is zoned C-1. The sale covers the land and building; a long-term tenant currently operates the store.

Located at 170/190 N 3rd St in Harrisburg, Oregon, the site includes 12 parking spaces.

Key Highlights

• 2,800‑square‑foot convenience store building
• 0.32‑acre site zoned C‑1
• Long‑term tenant currently operates the store

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,023

Cap Rate

8.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$860,460 $860.5K

Cap Rate 7%

$614,614 $614.6K

Cap Rate 9%

$478,033 $478.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,800 SF

Gross rent

$90.4K $32.28/SF

− Vacancy

−$28.9K −$10.33/SF

EGI

$61.5K $21.95/SF

− OpEx

−$18.4K −$6.59/SF

NOI

$43.0K $15.37/SF

Area

Linn County, OR

Vacancy

32.00%

Lease Rate

$32.28 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$860,460

Cap Rate 7%

$614,614

Cap Rate 9%

$478,033

Alternative Uses

Best Use

Specialty Retail

$658.5K

$576.2K – $768.3K (±1% cap)

NOI $46,096 @ 7.0% cap · market cap 9.22%

Second Best

Retail

$614.6K

$537.8K – $717.1K (±1% cap)

NOI $43,023 @ 7.0% cap · market cap 8.61%

Theoretical Best

Office A

$815.7K

$713.7K – $951.6K (±1% cap)

NOI $57,098 @ 7.0% cap · market cap 11.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Dental Office Real Estate Agency HVAC Service Big Box & Wholesale Store Hair Salon Kitchen & Bath Showroom

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

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

180

Businesses Nearby

18k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 86% Dining 14%

Dollar General Shops & Services

7,491 visits/mo 0.2 miles

Dari Mart Shops & Services

6,451 visits/mo 0.1 miles

SUBWAY Dining

2,586 visits/mo 0.1 miles

KeyBank Shops & Services

1,847 visits/mo 0.1 miles

Demographics for 97446, OR

5,067

Population

1,887

Households

2.7

Avg Household Size

39

Median Age

16%

College-Educated

93%

High-School Grad

123.0 sq mi

ZIP Area

41

Density / Sq Mi

$72,065

Median Household Income

$44,363

Median Earnings

$1,172

Median Rent

$318,200

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

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - A long-term tenant operates the property under a lease.

Where is this grocery and convenience store located?

The property is located at 170/190 N 3rd St Harrisburg, OR.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: 2,800‑square‑foot convenience store building; 0.32‑acre site zoned C‑1; Long‑term tenant currently operates the store