Two-Unit Mixed-Use
For Sale
$250,000
173 NE Hwy 20, Toledo, OR 97391
Commercial Sale, Toledo, OR
Property Size1,705 SF
Lot Size0.11 Acres
Price / SF$146.63
Days on Market245
Property Features for 173 NE Hwy 20
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C - Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
On Street
Appliances
Electric Oven, Refrigerator, Electric Oven, Refrigerator
Lot features
Gentle Sloping
Directions
Business Hwy. 20
Standard status
Active
APN
R403953
Size
1,705 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1436
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1925
Floors in Building
2
Flooring type
Vinyl, Carpet
Building materials
Frame
Roof type
Composition
Listing Agency:
Dolphin Real Estate, LLC
(541) 265-6638
Listed By:
Patricia Patrick-Joling · License #950300140
(541) 272-1990
Added: Feb 27
Changed: Oct 29
Last Checked: Oct 30 at 1:06AM
MLS# 26-413
Copyright © 2026 Oregon Coast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,705-square-foot mixed-use property contains two units: a business space and an apartment next door. The frame building was constructed in 1925 and sits on a 0.11-acre lot. Interior finishes include vinyl and carpet flooring, with electric heat.
The property is in downtown Toledo at 173 NE Hwy 20 and is zoned C - Commercial. Public water and public sewer serve the site; cable is available. Parking is on street.
The property is in downtown Toledo at 173 NE Hwy 20 and is zoned C - Commercial. Public water and public sewer serve the site; cable is available. Parking is on street.
Key Highlights
- Two units: business space and neighboring apartment
- 1,705 square feet on a 0.11‑acre lot
- C - Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,750
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,000
$415.0K
Cap Rate 7%
$296,429
$296.4K
Cap Rate 9%
$230,556
$230.6K
Market Conditions
NOI Build-Up for 1,705 SF
Gross rent
$30.7K $18.00/SF
− Vacancy
−$1.0K −$0.61/SF
EGI
$29.6K $17.39/SF
− OpEx
−$8.9K −$5.22/SF
NOI
$20.8K $12.17/SF
Area
Lincoln County, OR
Vacancy
3.41%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,000
Cap Rate 7%
$296,429
Cap Rate 9%
$230,556
Alternative Uses
Best Use
Retail
$296.4K
$259.4K – $345.8K
NOI $20,750 @ 7.0% cap · market cap 8.30%
Second Best
Mixed Use
$223.2K
$195.3K – $260.4K
NOI $15,626 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$444.7K
$389.1K – $518.8K
NOI $31,130 @ 7.0% cap · market cap 12.45%
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
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Explore this area
Business Placement
Demographics for 97391, OR
5,610
Population
2,478
Households
2.3
Avg Household Size
42
Median Age
23%
College-Educated
86%
High-School Grad
115.3 sq mi
ZIP Area
49
Density / Sq Mi
$57,793
Median Household Income
$35,241
Median Earnings
$1,046
Median Rent
$355,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A business space and neighboring apartment create a two-unit configuration.
Where is this mixed-use property located?
The property is located at 173 NE Hwy 20 Toledo, OR.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two units: business space and neighboring apartment; 1,705 square feet on a 0.11‑acre lot; C - Commercial zoning
