Renovated Two-Tenant
New
For Sale
$500,000
194 SE 4TH, Estacada, OR 97023
Two suites feature updated mechanical systems, dedicated parking, and flexible retail or food-service potential.
Property Size2,200 SF
Lot Size3,000.00 Acres
Price / SF$227.27
Days on Market4
Property Features for 194 SE 4TH
General Information
Standard status
Active
Size
2,200 SF
Total Parking Spaces
4
Lot size
3,000.00 Acres
Property subtype
Commercial
Zoning
Downtown Estacada (D)
Additional Details
Grease Trap
Yes
Taxes and HOA fees
Annual Taxes
$3,797
Amenities
grease trap
new roof
new HVAC systems
mini-split units
3-phase 240V power
updated mechanical systems
Membrane Roof
Mini Split Heating
On Site
Paved
Building Details
Year Built
1969
Year Renovated
2018
Buildings
1
Tenancy
Multi
Listing Agency:
KELLER WILLIAMS REALTY PORTLAND PREMIERE
(503) 597-2444
Listed By:
BRADLEY KING · License #201235429
Source:
Corcoran
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 10 at 8:20AM
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 KELLER WILLIAMS REALTY PORTLAND PREMIERE
Investment Insights
Based on property information with market context.
This storefront property contains approximately 2,200 SF of building area on a 3,000 SF lot. The two-suite configuration includes a frozen yogurt parlor with an installed grease trap and a beauty shop. The building underwent a full renovation in 2018, including roof and HVAC upgrades, while mini-split units were added within the last 1–2 years. Three-phase 240V power serves the property throughout.
Located in downtown Estacada at 194 SE 4th Ave, the property carries Downtown Estacada (D) zoning and provides 4 onsite parking spaces. The frozen yogurt tenant is planning to vacate, leaving space for a new food or beverage operation or an alternative retail use. Updated building systems and the existing food-service improvements support a range of commercial configurations.
Located in downtown Estacada at 194 SE 4th Ave, the property carries Downtown Estacada (D) zoning and provides 4 onsite parking spaces. The frozen yogurt tenant is planning to vacate, leaving space for a new food or beverage operation or an alternative retail use. Updated building systems and the existing food-service improvements support a range of commercial configurations.
Key Highlights
- Approximately 2,200 SF building area on a 3,000 SF lot
- Two‑suite layout with a frozen yogurt parlor and beauty shop
- Fully renovated in 2018 with a new roof and new HVAC systems
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
$30,598
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
6.12%
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%
$611,960
$612.0K
Cap Rate 7%
$437,114
$437.1K
Cap Rate 9%
$339,978
$340.0K
Market Conditions
NOI Build-Up for 2,200 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
$47.3K $21.48/SF
− Vacancy
−$3.5K −$1.61/SF
EGI
$43.7K $19.87/SF
− OpEx
−$13.1K −$5.96/SF
NOI
$30.6K $13.91/SF
Area
Clackamas County, OR
Vacancy
7.50%
Lease Rate
$21.48 /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%
$611,960
Cap Rate 7%
$437,114
Cap Rate 9%
$339,978
Alternative Uses
Best Use
Retail
$437.1K
$382.5K – $510.0K
NOI $30,598 @ 7.0% cap · market cap 6.12%
Second Best
Specialty Retail
$392.5K
$343.4K – $457.9K
NOI $27,473 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$593.8K
$519.6K – $692.8K
NOI $41,568 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
39k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Home Improvements & Furnishings 14%
Dining 10%
Dollar General
Shops & Services
10,545 visits/mo
0.1 miles
76
Shops & Services
5,853 visits/mo
0.0 miles
Estacada Ace Hardware
Home Improvements & Furnishings
5,481 visits/mo
0.1 miles
Conoco
Shops & Services
4,790 visits/mo
0.0 miles
SUBWAY
Dining
3,771 visits/mo
0.2 miles
Demographics for 97023, OR
11,676
Population
4,718
Households
2.5
Avg Household Size
42
Median Age
16%
College-Educated
93%
High-School Grad
196.5 sq mi
ZIP Area
59
Density / Sq Mi
$74,701
Median Household Income
$38,563
Median Earnings
$1,079
Median Rent
$530,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Anne's Flowers — 162 SW Frontage Rd, Estacada, OR 97023
Frequently Asked Questions
What type of property is this?
Storefront property - Two suites feature updated mechanical systems, dedicated parking, and flexible retail or food-service potential.
Where is this storefront property located?
The property is located at 194 SE 4TH Estacada, OR.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Approximately 2,200 SF building area on a 3,000 SF lot; Two‑suite layout with a frozen yogurt parlor and beauty shop; Fully renovated in 2018 with a new roof and new HVAC systems
