Iconic Geodesic Dome in
For Sale
$600,000
2217 Highway 101, Florence, OR 97439
Unique retail space with highway frontage and ample parking.
Property Size3,902 SF
Days on Market867
Property Features for 2217 Highway 101
General Information
Standard status
Active
Size
3,902 SF
Total Parking Spaces
14
Property subtype
Commercial
Zoning
H
Taxes and HOA fees
Annual Taxes
$4,025
Building Details
Building Size
3,902 SF
Year Built
1995
Listing Agency:
Coldwell Banker Coast Real Est
(541) 991-9107
Listed By:
Randy Paredes · License #201222891
(541) 991-9107
Source:
Allprofessionalsre
Added: Apr 12, 2024
Changed: Aug 25
Last Checked: Aug 25 at 9:21AM
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 Coldwell Banker Coast Real Est
Investment Insights
Based on property information with market context.
This one-of-a-kind iconic Geodesic Dome is located in the heart of Florence. The property features 120 feet of frontage on Highway 101, along with ample off-street parking. The zoning is H (Highway District), according to city zoning documents. A new roof with extensive treatment and preservation was completed in 2019. The interior was recently painted. The property includes a small office space, an additional kitchen, a storage area, and a receiving room. There is also an ample second story with a full bath.
Key Highlights
- Unique geodesic dome architecture: One‑of‑a‑kind iconic structure.
- High‑traffic highway frontage: 120 ft. of Hwy 101 frontage offers excellent visibility.
- Ample off‑street parking: Provides convenience for customers or tenants.
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
$50,026
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
8.34%
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%
$1,000,520
$1.0M
Cap Rate 7%
$714,657
$714.7K
Cap Rate 9%
$555,844
$555.8K
Market Conditions
NOI Build-Up for 3,902 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
$77.3K $19.80/SF
− Vacancy
−$5.8K −$1.49/SF
EGI
$71.5K $18.32/SF
− OpEx
−$21.4K −$5.49/SF
NOI
$50.0K $12.82/SF
Area
Lane County, OR
Vacancy
7.50%
Lease Rate
$19.80 /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%
$1,000,520
Cap Rate 7%
$714,657
Cap Rate 9%
$555,844
Alternative Uses
Best Use
Retail
$714.7K
$625.3K – $833.8K
NOI $50,026 @ 7.0% cap · market cap 8.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$987.2K
$863.8K – $1.15M
NOI $69,101 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
94k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Shops & Services 19%
Groceries 11%
Apparel 9%
McDonald's
Dining
15,476 visits/mo
0.0 miles
Dutch Bros. Coffee
Dining
12,980 visits/mo
0.0 miles
Grocery Outlet Bargain Market
Groceries
9,962 visits/mo
0.1 miles
Taco Bell
Dining
8,567 visits/mo
0.2 miles
Goodwill
Apparel
8,473 visits/mo
0.5 miles
Demographics for 97439, OR
15,634
Population
9,056
Households
1.7
Avg Household Size
62
Median Age
27%
College-Educated
92%
High-School Grad
168.3 sq mi
ZIP Area
93
Density / Sq Mi
$58,576
Median Household Income
$36,146
Median Earnings
$1,164
Median Rent
$364,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Unique retail space with highway frontage and ample parking.
Where is this retail space located?
The property is located at 2217 Highway 101 Florence, OR.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Unique geodesic dome architecture: One‑of‑a‑kind iconic structure.; High‑traffic highway frontage: 120 ft. of Hwy 101 frontage offers excellent visibility.; Ample off‑street parking: Provides convenience for customers or tenants.
