Mixed-Use Property with
2123 NE 36th Drive, Lincoln City, OR 97367
For Sale
$890,000
Commercial Sale, Lincoln City, OR
Property Size7,562 SF
Lot Size0.48 Acres
Price / SF$117.69
Days on Market222
Property Features for 2123 NE 36th Drive
General Information
Property type
Property subtype
Zoning
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Window features
Fireplace
Appliances
Lot features
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Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
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Tax Annual Amount
Utilities
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Building Details
Year built
Floors in Building
Flooring type
Building materials
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Additional Structures
Buildings
Listing Agency:
Taylor & Taylor Realty Company
(800) 462-0197
Listed By:
Dennis M Regen · License OR #810604051
(541) 994-4169
Added: Apr 8
Changed: Oct 28
Last Checked: Nov 15 at 4:06AM
MLS# 26-891
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.
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Investment Insights
Based on property information with market context.
This 7,562-square-foot mixed-use property occupies 0.48 acres in Lincoln City and was built in 2004. Improvements include a 1,456-square-foot, three-bedroom, two-bath home above a three-car garage and office; the third bedroom currently serves as an office. A separate 2,650-square-foot structure combines an approximately six-car garage with office and storage space. Another building provides a three-car garage and office across approximately 2,000 square feet.
The property is zoned GC - General Commercial and has public water and sewer service. Its buildings bring residential, office, storage, and garage areas together on one parcel.
The property is zoned GC - General Commercial and has public water and sewer service. Its buildings bring residential, office, storage, and garage areas together on one parcel.
Key Highlights
- 7,562 square feet of improvements on 0.48 acres
- 1,456‑square‑foot home with 3 bedrooms and 2 bathrooms above a three‑car garage and office
- Approximately 2,650‑square‑foot building with an approximately six‑car garage, office, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,306
Cap Rate
7.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,386,120
$1.4M
Cap Rate 7%
$990,086
$990.1K
Cap Rate 9%
$770,067
$770.1K
Market Conditions
NOI Build-Up for 7,562 SF
Gross rent
$118.0K $15.60/SF
− Vacancy
−$7.1K −$0.94/SF
EGI
$110.9K $14.66/SF
− OpEx
−$41.6K −$5.50/SF
NOI
$69.3K $9.17/SF
Area
Lincoln County, OR
Vacancy
6.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,386,120
Cap Rate 7%
$990,086
Cap Rate 9%
$770,067
Alternative Uses
Best Use
Office B
$1.66M
$1.45M – $1.94M
NOI $116,338 @ 7.0% cap · market cap 13.07%
Second Best
Mixed Use
$990.1K
$866.3K – $1.16M
NOI $69,306 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,069 @ 7.0% cap · market cap 15.51%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
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Business Placement
Demographics for 97367, OR
11,095
Population
8,138
Households
1.4
Avg Household Size
53
Median Age
29%
College-Educated
91%
High-School Grad
45.7 sq mi
ZIP Area
243
Density / Sq Mi
$58,845
Median Household Income
$37,370
Median Earnings
$1,333
Median Rent
$388,800
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - General Commercial zoning supports a varied property configuration with residential, office, and garage space.
Where is this mixed-use property located?
The property is located at 2123 NE 36th Drive Lincoln City, OR.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: 7,562 square feet of improvements on 0.48 acres; 1,456‑square‑foot home with 3 bedrooms and 2 bathrooms above a three‑car garage and office; Approximately 2,650‑square‑foot building with an approximately six‑car garage, office, and storage
