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    Retail Storefront Property Title is generated by Realmo AI

    172 N Hemlock Street, Cannon Beach, OR 97110

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    For Sale
    $5,150,000

    For-sale retail property in Cannon Beach offering a storefront configuration within a shopping center setting.

    Property size:
    48,208 SF
    Price / SF:
    $106/SF
    Added:
    May 27, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 3 at 2:51 am

    Property Features for 172 N Hemlock Street

    General Information

    Standard status
    Active
    Size
    48,208 SF

    Building Details

    Year Built
    1971

    We can help!

    Listing Contact
    Outside of MLS

    Listing agent Outside of MLS

    Listing office

    Listing date May 27, 2026

    Source Evrealestate

    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 Outside of MLS

    HighLights

    • For‑sale retail property in Cannon Beach with a storefront configuration within a shopping center setting
    • Year built: 1971
    • Interior systems include central air, ductless cooling, and electric/wood/zoned heating
    • Parking available with off‑street and on‑street options, paved, plus additional parking
    • Ocean view

    Overview

    This for-sale retail storefront property is positioned within a shopping center environment and totals 48,208 square feet. The offering is presented as a retail space suitable for tenants or investors seeking a storefront-based configuration in a retail-focused asset type. With its existing commercial character, the property can serve as a foundation for a variety of neighborhood-serving retail uses, depending on tenant requirements and applicable approvals.

    The property is located at 172 N Hemlock Street in Cannon Beach, Oregon, within Clatsop County. The provided directions indicate access via Spruce St to 2nd St, then to Hemlock, supporting straightforward arrival for local traffic and customers.

    From an underwriting and leasing perspective, a storefront retail property like this typically appeals to operators looking for visibility and direct customer-facing access, as well as investors interested in retail real estate with a recognizable shopping center form factor. If you’re evaluating options in Cannon Beach for retail occupancy or ownership, this asset’s size and retail orientation make it a practical candidate for due diligence, including confirming any unitization, tenant layout, and operating plan aligned with your business goals.
    Location Intelligence

    Current Use by Public Records

    Gatsby's Wine Cafe Restaurant Firefly Art Gallery Shorelines Northwest (Bike/Boat/Book/etc) Store Jeffrey Hull Gallery Art Gallery Love & Hemlock (Bike/Boat/Book/etc) Store

    Suggested Use

    Storage Facility Discount Store Cosmetic Store Restaurant Clothing & Fashion Store (Bike/Boat/Book/etc) Store Auto Parts Store Garden Center Bakery Barber Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Cannon Beach Mall — 183 S Hemlock St, Cannon Beach, OR 97110
    • Jesus Stadium — Cannon Beach, OR 97110
    • Village Centre — 231 N Hemlock St, Cannon Beach, OR 97110
    • The Landing — 224 N Hemlock St, Cannon Beach, OR 97110
    • Sandpiper Square — Cannon Beach, OR 97110

    Location Insight

    • Map
    • Local Demand
    City
    Cannon Beach
    County
    Clatsop
    State
    Oregon
    Longitude
    -123.9611785
    Latitude
    45.8980688

    Nearby Similar for Sale

    • $6,461,000

      Retail Property For Sale

      Retail property available for purchase in Cannon Beach, Oregon.
      3401 S Hemlock St, Cannon Beach, OR
      View Details
    • $1,595,000

      Mixed-Use Property in Cannon Beach

      Mixed-use property with residential units and commercial space in Cannon Beach.
      107 Sunset Blvd, Cannon Beach, OR, 97110-3217
      View Details

    FAQs

    What type of property is this?
    Shopping center - For-sale retail property in Cannon Beach offering a storefront configuration within a shopping center setting.
    Where is this shopping center located?
    The property is located at 172 N Hemlock Street Cannon Beach, OR.
    What is the asking price?
    The asking price for this property is $5,150,000.
    What are key features of this property?
    This property features: For‑sale retail property in Cannon Beach with a storefront configuration within a shopping center setting; Year built: 1971; Interior systems include central air, ductless cooling, and electric/wood/zoned heating
    We can help!
    Listing Contact
    Outside of MLS
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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