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Building Details

Year built 2003

Floors in Building 2

Building materials Cedar, ShingleSiding

Roof type Composition

Listing Agency: Emerald Coast Realty-Seal Rock p***@emeraldcoastrealty.com Show Phone

Listed By: Pamela Mugleston · License #940600295 Show Phone

Added: Mar 19 Changed: Oct 10 Last Checked: Oct 15 at 3:06PM

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MLS# 559344475

Copyright © 2026 Regional Multiple Listing Services. 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 mixed-use property contains 3 residential units and 2 commercial office spaces within a 3,116-square-foot building. The layout also includes a laundry room and a garage that can support storage or workshop use. Built in 2003, the structure features cedar and shingle siding beneath a composition roof, with zoning identified as D-D.

The property is within Waldport city limits at 220 NW Spring St, Waldport, OR 97394. The source information places it near beach and shopping amenities. Expansion plans described for the property allow for the addition of up to 4 residential units, subject to applicable approvals and requirements.

Key Highlights

• 3 residential units and 2 commercial office spaces
• 3,116 SF mixed‑use building on 220 NW Spring St
• Zoned D‑D with expansion described for up to 4 additional residential units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,938

Cap Rate

5.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$958,760 $958.8K

Cap Rate 7%

$684,829 $684.8K

Cap Rate 9%

$532,644 $532.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,116 SF

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 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 (±1% cap)

NOI $47,938 @ 7.0% cap · market cap 5.36%

Second Best

Mixed Use

$408.0K

$357.0K – $476.0K (±1% cap)

NOI $28,558 @ 7.0% cap · market cap 3.19%

Theoretical Best

Office A

$812.8K

$711.2K – $948.2K (±1% cap)

NOI $56,893 @ 7.0% cap · market cap 6.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Carrie Naylor Physician Waldport physical therapy ... Medical Clinic

Suggested Use

Top Pick Locksmith Grocery & Convenience Store Storage Facility (Bike/Boat/Book/etc) Store Pharmacy Electrical Service

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

Lease Details

2

Office units

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Combines residential units with commercial offices, plus shared laundry and garage space.

Where is this mixed-use property located?

The property is located at 220 NW SPRING St 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: 3 residential units and 2 commercial office spaces; 3,116 SF mixed‑use building on 220 NW Spring St; Zoned D‑D with expansion described for up to 4 additional residential units