Three-Unit Apartment
For Sale
$389,000
195 17th St SE, Bandon, OR 97411
Commercially zoned triplex with on-site parking and a vacant upstairs unit available for viewing.
Property Size1,368 SF
Price / SF$284.36
Days on Market37
Property Features for 195 17th St SE
General Information
Standard status
Active
Size
1,368 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Building Details
Year Built
1931
Listing Agency:
Pacific Coast Real Estate & Development, LLC
(541) 294-1485
Listed By:
Levi Rider · License #201225928
Source:
Christiesrealestateevg
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 25 at 4:20AM
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 Pacific Coast Real Estate & Development, LLC
Investment Insights
Based on property information with market context.
This 1,368-square-foot triplex, built in 1931, contains three one-bedroom, one-bathroom units. The apartments feature functional layouts, laminate and vinyl flooring, and included appliances. The upstairs unit is currently vacant and available for viewing. The property is offered in its existing condition.
Located just off Highway 101 in Bandon, the property is minutes from Old Town Bandon, shopping, restaurants, and Oregon Coast beaches. On-site parking serves the building, while commercial zoning and inclusion in an opportunity and enterprise zone are additional property characteristics.
Located just off Highway 101 in Bandon, the property is minutes from Old Town Bandon, shopping, restaurants, and Oregon Coast beaches. On-site parking serves the building, while commercial zoning and inclusion in an opportunity and enterprise zone are additional property characteristics.
Key Highlights
- Three 1‑bedroom, 1‑bathroom units in a triplex configuration
- 1,368 SF building constructed in 1931
- Upstairs unit currently vacant and available for viewing
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
$12,356
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
3.18%
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%
$247,120
$247.1K
Cap Rate 7%
$176,514
$176.5K
Cap Rate 9%
$137,289
$137.3K
Market Conditions
NOI Build-Up for 1,368 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
$18.9K $13.80/SF
− Vacancy
−$1.2K −$0.90/SF
EGI
$17.7K $12.90/SF
− OpEx
−$5.3K −$3.87/SF
NOI
$12.4K $9.03/SF
Area
Coos County, OR
Vacancy
6.50%
Lease Rate
$13.80 /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%
$247,120
Cap Rate 7%
$176,514
Cap Rate 9%
$137,289
Alternative Uses
Best Use
Multifamily LT 5
$176.5K
$154.5K – $205.9K
NOI $12,356 @ 7.0% cap · market cap 3.18%
Second Best
Apartment 5plus
$163.7K
$143.2K – $191.0K
NOI $11,458 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$247.6K
$216.7K – $288.9K
NOI $17,335 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Explore this area
Business Placement
Demographics for 97411, OR
7,572
Population
4,396
Households
1.7
Avg Household Size
59
Median Age
27%
College-Educated
95%
High-School Grad
128.6 sq mi
ZIP Area
59
Density / Sq Mi
$48,476
Median Household Income
$27,375
Median Earnings
$920
Median Rent
$425,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Commercially zoned triplex with on-site parking and a vacant upstairs unit available for viewing.
Where is this triplex located?
The property is located at 195 17th St SE Bandon, OR.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Three 1‑bedroom, 1‑bathroom units in a triplex configuration; 1,368 SF building constructed in 1931; Upstairs unit currently vacant and available for viewing
