Flex Space with Shop
For Sale
$800,000
20 Willow Street, Depoe Bay, OR 97341
Commercial Sale, Depoe Bay, OR
Property Size3,480 SF
Lot Size0.39 Acres
Price / SF$229.89
Days on Market125
Property Features for 20 Willow Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C-2 General Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
10
Parking features
RV, Garage - Detached
Fencing
Chain Link
Appliances
Dishwasher, Water Heater, Refrigerator, Dishwasher, Water Heater, Refrigerator
Subdivision
Lincoln Beach Park
Lot features
Level
Directions
Head South of LINCOLN CITY , OR on HWY 101. Turn right onto Willow Street, turn left into 1st large driveway. Call for appointment as driveway has rope entry.
Standard status
Active
APN
9100
Size
3,480 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2477
Utilities
Sewer type
Private Sewer
Heating system
Natural Gas, Electric (Heating)
Water source
Public
Building Details
Year built
1993
Floors in Building
2
Flooring type
Carpet, Vinyl
Building materials
Concrete, T1-11 Type
Roof type
Composition
Additional Structures
Workshop
Listing Agency:
Barclay - Properties, LLC
Listed By:
Nancy Barclay Moore · License #201211803
(415) 717-4244
Added: Jun 4
Changed: Oct 3
Last Checked: Oct 6 at 2:06PM
MLS# 26-1552
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.
Investment Insights
Based on property information with market context.
This 3,480-square-foot flex property includes three remodeled buildings: an office and living area, a 26-by-40-foot shop, and a 20-by-35-foot garage/shop. Improvements to the office/living building include foundation work, insulation, windows, a patio door, roofing, heating and air conditioning, an electrical panel, and a kitchen. Interior and exterior paint were also updated.
The property occupies 0.39 acres and has 200 feet of frontage on Highway 101. The larger shop has three pull-up doors. The garage/shop may be rewired for 600 amps, and a vacant lot can be connected to county water and sewer, as confirmed by the county.
The property occupies 0.39 acres and has 200 feet of frontage on Highway 101. The larger shop has three pull-up doors. The garage/shop may be rewired for 600 amps, and a vacant lot can be connected to county water and sewer, as confirmed by the county.
Key Highlights
- Three remodeled buildings totaling 3,480 square feet
- 200 feet of frontage on Highway 101
- 26'x40' shop with three pull‑up doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,538
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,070,760
$1.1M
Cap Rate 7%
$764,829
$764.8K
Cap Rate 9%
$594,867
$594.9K
Market Conditions
NOI Build-Up for 3,480 SF
Gross rent
$92.7K $26.64/SF
− Vacancy
−$21.3K −$6.13/SF
EGI
$71.4K $20.51/SF
− OpEx
−$17.8K −$5.13/SF
NOI
$53.5K $15.38/SF
Area
Lincoln County, OR
Vacancy
23.00%
Lease Rate
$26.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,070,760
Cap Rate 7%
$764,829
Cap Rate 9%
$594,867
Alternative Uses
Best Use
Office B
$764.8K
$669.2K – $892.3K
NOI $53,538 @ 7.0% cap · market cap 6.69%
Second Best
Warehouse
$610.4K
$534.1K – $712.1K
NOI $42,728 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$907.7K
$794.2K – $1.06M
NOI $63,539 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97341, OR
2,659
Population
2,693
Households
1
Avg Household Size
60
Median Age
32%
College-Educated
98%
High-School Grad
9.9 sq mi
ZIP Area
269
Density / Sq Mi
$62,917
Median Household Income
$47,273
Median Earnings
$1,316
Median Rent
$344,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Flex space - A remodeled office and living area accompanies two separate shop spaces for varied business operations.
Where is this flex space located?
The property is located at 20 Willow Street Depoe Bay, OR.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Three remodeled buildings totaling 3,480 square feet; 200 feet of frontage on Highway 101; 26'x40' shop with three pull‑up doors
