Building Details

Year Built 1972

Listing Agency: The Running Group

Listed By: Kip Running Show Phone

Source: Wyndeekono

Added: Sep 4 Changed: Oct 16 Last Checked: Oct 19 at 9:03AM

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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 The Running Group

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Investment Insights

Based on property information with market context.

Located at 171 Sunset Blvd in Cannon Beach, this mixed-use property combines space suited to an owner-user with apartment spaces. The property is positioned across the street from Pelican Brew Pub and is offered in AS IS condition.

Key Highlights

• Mixed‑use property at 171 SUNSET BLVD, Cannon Beach, OR 97110
• Space available for an owner‑user
• Apartment spaces available

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$149,043

Cap Rate

5.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,980,860 $3.0M

Cap Rate 7%

$2,129,186 $2.1M

Cap Rate 9%

$1,656,033 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,700 SF

Gross rent

$313.1K $32.28/SF

− Vacancy

−$100.2K −$10.33/SF

EGI

$212.9K $21.95/SF

− OpEx

−$63.9K −$6.59/SF

NOI

$149.0K $15.37/SF

Area

Clatsop 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%

$2,980,860

Cap Rate 7%

$2,129,186

Cap Rate 9%

$1,656,033

Alternative Uses

Best Use

Retail

$2.13M

$1.86M – $2.48M (±1% cap)

NOI $149,043 @ 7.0% cap · market cap 5.52%

Second Best

Mixed Use

$914.6K

$800.3K – $1.07M (±1% cap)

NOI $64,020 @ 7.0% cap · market cap 2.37%

Theoretical Best

Office A

$2.82M

$2.47M – $3.29M (±1% cap)

NOI $197,414 @ 7.0% cap · market cap 7.31%

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

Property Analytics

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Current Use

Cannon Beach Fitness Gym & Fitness Center Cleanline Surf (Bike/Boat/Book/etc) Store Michaels Music (Bike/Boat/Book/etc) Store Cameron Francey Health ... Gym & Fitness Center Copies & Fax Shipping Company

Suggested Use

Top Pick Plumbing Service Electrical Service (Bike/Boat/Book/etc) Store Auto Parts Store Garden Center Storage Facility

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

Location Intelligence

Trade Area within ½ mile

229

Businesses Nearby

Explore this area Business Placement

Demographics for 97110, OR

1,290

Population

1,656

Households

0.8

Avg Household Size

53

Median Age

44%

College-Educated

98%

High-School Grad

6.1 sq mi

ZIP Area

211

Density / Sq Mi

$68,923

Median Household Income

$42,150

Median Earnings

$1,121

Median Rent

$740,100

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

Similar For Sale Nearby

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R2-Zoned Duplex

138 E Jefferson, Cannon Beach, OR 97110

$540,000

1,044 SF

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Two-Lot Duplex

136 E Jefferson St, Cannon Beach, OR 97110

$540,000

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The property includes space for an owner-user and apartment occupancy.

Where is this mixed-use property located?

The property is located at 171 Sunset Blvd Cannon Beach, OR.

What is the asking price?

The asking price for this property is $2,700,000.

What are key features of this property?

This property features: Mixed‑use property at 171 SUNSET BLVD, Cannon Beach, OR 97110; Space available for an owner‑user; Apartment spaces available