Multi-Tenant Flex Office
For Sale
$285,000
209 Old Pacific Highway, Myrtle Creek, OR 97457
Three adjacent warm-shell suites offer clear-span space, each plumbed for a private half-bath, with shared parking and access.
Property Size2,772 SF
Price / SF$102.81
Days on Market29
Property Features for 209 Old Pacific Highway
General Information
Standard status
Active
Size
2,772 SF
Property subtype
General Commercial
Zoning
C2
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,880
Amenities
Central Air
3
Composition
Parking.
Lot.
0.23
Building Details
Year Built
2006
Stories
1
Tenancy
Multi
Listing Agency:
Merit Commercial RE, LLC
(541) 944-9967
Listed By:
Caspian Hoehne
(541) 944-9967
Source:
Xome
Added: Jul 14
Changed: Aug 8
Last Checked: Aug 11 at 5:03AM
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 Merit Commercial RE, LLC
Investment Insights
Based on property information with market context.
Exclusively offered for sale, this flexible multi-tenant commercial building includes three adjacent warm-shell suites within a 2,772 SF structure. Each approximately 900 SF suite provides wide-open clear-span interior space and is plumbed for a private half-bath. The suites are delivered as warm shell with HVAC, some plumbing, and paint/drywall, with no fixtures in place. Buyers may keep the suites as three individual spaces or combine them into one or two larger units.
The property offers 177' of frontage on S Old Pacific Highway with convenient full-movement access via a shared driveway. A well-sized rear parking lot is shared with two neighboring commercial buildings. C2 zoning supports a broad range of commercial uses, and the building is located near I-5 within an established commercial corridor.
The property offers 177' of frontage on S Old Pacific Highway with convenient full-movement access via a shared driveway. A well-sized rear parking lot is shared with two neighboring commercial buildings. C2 zoning supports a broad range of commercial uses, and the building is located near I-5 within an established commercial corridor.
Key Highlights
- 2,772 SF multi‑tenant commercial building in Tri‑City, OR with three adjacent 900 SF warm‑shell suites
- Each suite has clear‑span interior space and is plumbed for a private half‑bath
- HVAC is available; Central Air noted for the property (each suite is currently a warm shell with HVAC and some plumbing)
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
$23,956
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
8.41%
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%
$479,120
$479.1K
Cap Rate 7%
$342,229
$342.2K
Cap Rate 9%
$266,178
$266.2K
Market Conditions
NOI Build-Up for 2,772 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
$38.3K $13.80/SF
− Vacancy
−$6.3K −$2.28/SF
EGI
$31.9K $11.52/SF
− OpEx
−$8.0K −$2.88/SF
NOI
$24.0K $8.64/SF
Area
Douglas County, OR
Vacancy
16.50%
Lease Rate
$13.80 /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%
$479,120
Cap Rate 7%
$342,229
Cap Rate 9%
$266,178
Alternative Uses
Best Use
Healthcare Medical
$472.1K
$413.1K – $550.8K
NOI $33,046 @ 7.0% cap · market cap 11.60%
Second Best
Retail
$471.5K
$412.6K – $550.1K
NOI $33,006 @ 7.0% cap · market cap 11.58%
Theoretical Best
Specialty Retail
$479.8K
$419.8K – $559.7K
NOI $33,584 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 97457, OR
10,363
Population
4,688
Households
2.2
Avg Household Size
47
Median Age
11%
College-Educated
91%
High-School Grad
164.0 sq mi
ZIP Area
63
Density / Sq Mi
$53,514
Median Household Income
$35,857
Median Earnings
$917
Median Rent
$242,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Three adjacent warm-shell suites offer clear-span space, each plumbed for a private half-bath, with shared parking and access.
Where is this office units located?
The property is located at 209 Old Pacific Highway Myrtle Creek, OR.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 2,772 SF multi‑tenant commercial building in Tri‑City, OR with three adjacent 900 SF warm‑shell suites; Each suite has clear‑span interior space and is plumbed for a private half‑bath; HVAC is available; Central Air noted for the property (each suite is currently a warm shell with HVAC and some plumbing)
