Mixed-Use Property with Office
For Sale
$895,000
220 NW Spring Street, Waldport, OR 97394
D-D Downtown District zoning supports a combination of residential and commercial uses in Waldport.
Property Size3,116 SF
Days on Market158
Property Features for 220 NW Spring Street
General Information
Standard status
Active
Size
3,116 SF
Total Parking Spaces
14
Property subtype
Commercial
Zoning
D-D Downtown District (Waldport)
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,350
Amenities
Laundry room
Garage
Building Details
Building Size
3,116 SF
Year Built
2003
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Emerald Coast Realty - Seal Rock
(541) 270-7998
Listed By:
Pam Mugleston · License #940600295
(541) 270-7998
Source:
Allprofessionalsre
Added: Mar 16
Changed: Aug 19
Last Checked: Aug 19 at 3:03PM
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 Emerald Coast Realty - Seal Rock
Investment Insights
Based on property information with market context.
Built in 2003, this mixed-use property combines three residential units with two commercial office spaces. The building also includes a laundry room and a garage suitable for storage or workshop use. The residential units have natural light and rental history, while the office areas provide dedicated commercial space within the same property.
The property is located within Waldport city limits and is described as close to beach and shopping destinations. Zoning is D-D Downtown District (Waldport), with the ability to add up to four more residential units. Tenants are in place, and showings should be coordinated without disturbing them.
The property is located within Waldport city limits and is described as close to beach and shopping destinations. Zoning is D-D Downtown District (Waldport), with the ability to add up to four more residential units. Tenants are in place, and showings should be coordinated without disturbing them.
Key Highlights
- Three residential units with natural light and rental history
- Two commercial office spaces for small‑business use
- Laundry room and garage for storage or workshop use
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
$47,938
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
5.36%
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%
$958,760
$958.8K
Cap Rate 7%
$684,829
$684.8K
Cap Rate 9%
$532,644
$532.6K
Market Conditions
NOI Build-Up for 3,116 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
$83.0K $26.64/SF
− Vacancy
−$19.1K −$6.13/SF
EGI
$63.9K $20.51/SF
− OpEx
−$16.0K −$5.13/SF
NOI
$47.9K $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 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%
$958,760
Cap Rate 7%
$684,829
Cap Rate 9%
$532,644
Alternative Uses
Best Use
Office B
$684.8K
$599.2K – $799.0K
NOI $47,938 @ 7.0% cap · market cap 5.36%
Second Best
Mixed Use
$408.0K
$357.0K – $476.0K
NOI $28,558 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$812.8K
$711.2K – $948.2K
NOI $56,893 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
Explore this area
Business Placement
Demographics for 97394, OR
5,361
Population
3,686
Households
1.5
Avg Household Size
59
Median Age
28%
College-Educated
95%
High-School Grad
51.7 sq mi
ZIP Area
104
Density / Sq Mi
$57,708
Median Household Income
$31,690
Median Earnings
$1,104
Median Rent
$354,400
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?
Mixed-use property - D-D Downtown District zoning supports a combination of residential and commercial uses in Waldport.
Where is this mixed-use property located?
The property is located at 220 NW Spring Street Waldport, OR.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Three residential units with natural light and rental history; Two commercial office spaces for small‑business use; Laundry room and garage for storage or workshop use
