Convenience Store
For Sale
$499,900
170/190 N 3RD St, Harrisburg, OR 97446
CommercialSale, Harrisburg, OR
Property Size2,800 SF
Lot Size0.32 Acres
Price / SF$178.54
Days on Market389
Property Features for 170/190 N 3RD St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
View
Territorial
Directions
Hwy 99e into Harrisburg. Turns into 3rd street property on the left
Subdivision
_221
Standard status
Active
APN
0326724
Size
2,800 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
15S04W16AA
Tax Annual Amount
7535
Legal Description
15S04W16AA
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2003
Floors in Building
1
Building materials
Block
Roof type
Flat
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Theresa Monahan
(503) 805-7055
Added: Aug 2, 2025
Changed: Aug 13
Last Checked: Aug 25 at 6:06PM
MLS# 734701225
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 convenience store property includes the land and building on a 0.32-acre site. The 2,800-square-foot structure was built in 2003 and features block construction, a flat roof, forced-air heating, and central air conditioning. The property is currently operated as a convenience store, with 12 dedicated parking spaces and a long-term tenant in place.
Located at 170/190 N 3RD St in Harrisburg, Oregon, the property sits within a commercial setting and is zoned C-1. The offering includes the real estate only. Tenant contact should be avoided during the marketing process.
Located at 170/190 N 3RD St in Harrisburg, Oregon, the property sits within a commercial setting and is zoned C-1. The offering includes the real estate only. Tenant contact should be avoided during the marketing process.
Key Highlights
- 2,800‑square‑foot convenience store building on a 0.32‑acre site
- C‑1 zoning supports the property's commercial use
- 12 dedicated on‑site parking spaces
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
$43,023
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
8.61%
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%
$860,460
$860.5K
Cap Rate 7%
$614,614
$614.6K
Cap Rate 9%
$478,033
$478.0K
Market Conditions
NOI Build-Up for 2,800 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
$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 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%
$860,460
Cap Rate 7%
$614,614
Cap Rate 9%
$478,033
Alternative Uses
Best Use
Specialty Retail
$658.5K
$576.2K – $768.3K
NOI $46,096 @ 7.0% cap · market cap 9.22%
Second Best
Retail
$614.6K
$537.8K – $717.1K
NOI $43,023 @ 7.0% cap · market cap 8.61%
Theoretical Best
Office A
$815.7K
$713.7K – $951.6K
NOI $57,098 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - C-1-zoned commercial property with an existing convenience store operation and an established long-term tenant.
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 on a 0.32‑acre site; C‑1 zoning supports the property's commercial use; 12 dedicated on‑site parking spaces
