Geodesic Dome Retail
For Sale
$600,000
2217 HIGHWAY 101, Florence, OR 97439
CommercialSale, Florence, OR
Property Size3,902 SF
Lot Size0.26 Acres
Price / SF$153.77
Days on Market867
Property Features for 2217 HIGHWAY 101
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
H
Directions
Hwy 101 and NW Corner of 22nd St.
Subdivision
_228
Standard status
Active
APN
1371028
Size
3,902 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
18-12-23-33-03401
Tax Annual Amount
4026
Legal Description
18-12-23-33-03401
Utilities
Heating system
Baseboard
Amenities
office space
kitchen
storage
receiving room
full bath
Building Details
Year built
1995
Building materials
Concrete, ShakeSiding, WoodFrame
Roof type
Shake
Listing Agency:
Coldwell Banker Coast Real Est · Coldwell Banker Real Estate
(541) 997-7777
Listed By:
Randy Paredes · License #201222891
(541) 991-9107
Added: Apr 12, 2024
Changed: Aug 25
Last Checked: Aug 26 at 3:06AM
MLS# 24201071
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 retail property occupies a geodesic dome built in 1995, with 3,902 square feet across its configuration. The interior includes a small office, kitchen, storage area, and receiving room, along with a second story that provides a full bathroom. Concrete, shake siding, and wood-frame construction are present, with baseboard heating.
The property includes 0.26 acres and 120 feet of frontage on Highway 101 in Florence. Ample off-street parking is provided. It is zoned H, the Highway District designation. A new roof received extensive treatment and preservation in 2019, and the interior has been recently painted.
The property includes 0.26 acres and 120 feet of frontage on Highway 101 in Florence. Ample off-street parking is provided. It is zoned H, the Highway District designation. A new roof received extensive treatment and preservation in 2019, and the interior has been recently painted.
Key Highlights
- Geodesic dome retail property built in 1995
- 3,902 square feet on 0.26 acres
- 120 ft. of Highway 101 frontage
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
Lease Details
Yes
Highway access
Yes
Paved road access
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 - Highway District property with office, kitchen, storage, and receiving areas.
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: Geodesic dome retail property built in 1995; 3,902 square feet on 0.26 acres; 120 ft. of Highway 101 frontage
