Live-Work Property with Attached Commercial
New
For Sale
$275,000
190 E 3rd St, Coquille, OR 97423
C-2 zoning accompanies a three-bedroom, 1.5-bath residence and a separate business area.
Property Size2,485 SF
Price / SF$110.66
Days on Market4
Property Features for 190 E 3rd St
General Information
Standard status
Active
Size
2,485 SF
Zoning
C-2
Property Condition
Severity
Repairs Needed
Evidence
needs a few finishing touches
Building Details
Year Built
1921
Listing Agency:
Johnson Group Real Estate, LLC
Listed By:
Cynthia Johnson · License #900900210
(541) 559-0111
Source:
Evokepropertypartners
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 3 at 12:07AM
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 Johnson Group Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 1921, this live-work property combines a three-bedroom, 1.5-bath home with attached commercial space. The residence is undergoing updates, with most of the work completed and finishing work remaining. The commercial area was formerly used as a locksmith shop. The property is zoned C-2 and is located at 190 E 3rd St in Coquille, Oregon.
Key Highlights
- C‑2 zoning
- Three‑bedroom, 1.5‑bath residence with attached commercial space
- Home built in 1921
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
$23,081
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
8.39%
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%
$461,620
$461.6K
Cap Rate 7%
$329,729
$329.7K
Cap Rate 9%
$256,456
$256.5K
Market Conditions
NOI Build-Up for 2,485 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
$35.8K $14.40/SF
− Vacancy
−$5.0K −$2.02/SF
EGI
$30.8K $12.38/SF
− OpEx
−$7.7K −$3.10/SF
NOI
$23.1K $9.29/SF
Area
Coos County, OR
Vacancy
14.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$461,620
Cap Rate 7%
$329,729
Cap Rate 9%
$256,456
Alternative Uses
Best Use
Office B
$329.7K
$288.5K – $384.7K
NOI $23,081 @ 7.0% cap · market cap 8.39%
Second Best
Mixed Use
$318.4K
$278.6K – $371.5K
NOI $22,290 @ 7.0% cap · market cap 8.11%
Theoretical Best
Office A
$449.9K
$393.6K – $524.8K
NOI $31,490 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 97423, OR
6,986
Population
2,835
Households
2.5
Avg Household Size
49
Median Age
19%
College-Educated
91%
High-School Grad
126.6 sq mi
ZIP Area
55
Density / Sq Mi
$57,665
Median Household Income
$36,250
Median Earnings
$1,150
Median Rent
$266,200
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Live-work space - C-2 zoning accompanies a three-bedroom, 1.5-bath residence and a separate business area.
Where is this live-work space located?
The property is located at 190 E 3rd St Coquille, OR.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: C‑2 zoning; Three‑bedroom, 1.5‑bath residence with attached commercial space; Home built in 1921
