Building Details

Year Built 1858

Year Renovated 2020

Buildings 1

Stories 2

Listing Agency: t***@kw.com Show Phone

Listed By: Tim Show Phone

Added: Jan 27 Changed: Apr 8

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Investment Insights

Based on property information with market context.

This renovated historic church, located in downtown Amity, Oregon, offers 7,000 square feet of flexible meeting space. The property combines old-world character with contemporary refinement. Original architectural details include rich woodwork and tall windows. The layout supports a wide range of uses, from large gatherings in the main sanctuary to intimate breakout areas. Adaptable rooms can be tailored to workshops, exhibitions, performances, or corporate events. The property is designed to accommodate imagination and could be used as a wedding and events venue, a creative studio or gallery, a community cultural center, or a unique office campus. Renovations were executed with respect for the building’s heritage and an eye toward contemporary expectations. Upgraded mechanical systems, improved accessibility, and tasteful lighting design are included. The property benefits from a walkable streetscape, local shops, and a warm small-town vibe. Its proximity to regional wine country and nearby communities makes it an attractive destination for visitors. The location is easy to find and perfectly placed for visibility and foot traffic.

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

$43,935

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

4.88%

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%

$878,700 $878.7K

Cap Rate 7%

$627,643 $627.6K

Cap Rate 9%

$488,167 $488.2K

Market Conditions

NOI Build-Up for 7,000 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

$67.2K $9.60/SF

− Vacancy

−$4.4K −$0.63/SF

EGI

$62.8K $8.97/SF

− OpEx

−$18.8K −$2.69/SF

NOI

$43.9K $6.28/SF

Area

Yamhill County, OR

Vacancy

6.60%

Lease Rate

$9.60 /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%

$878,700

Cap Rate 7%

$627,643

Cap Rate 9%

$488,167

Alternative Uses

Best Use

Mixed Use

$1.30M

$1.13M – $1.51M (±1% cap)

NOI $90,720 @ 7.0% cap · market cap 10.08%

Second Best

Retail

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $83,790 @ 7.0% cap · market cap 9.31%

Theoretical Best

Office A

$1.89M

$1.65M – $2.20M (±1% cap)

NOI $132,263 @ 7.0% cap · market cap 14.70%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Swanborough Allan Church

Suggested Use

Top Pick Building Supply Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

131

Businesses Nearby

Explore this area Business Placement

Demographics for 97101, OR

4,055

Population

1,397

Households

2.9

Avg Household Size

42

Median Age

20%

College-Educated

88%

High-School Grad

50.1 sq mi

ZIP Area

81

Density / Sq Mi

$105,061

Median Household Income

$55,254

Median Earnings

$1,413

Median Rent

$484,200

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Industrial property - Historic Amity Baptist Church

Where is this industrial property located?

The property is located at 205 Sixth St Amity, OR.

What is the asking price?

The asking price for this property is $900,000.