Storefront Retail Building with Restaurant
For Sale
$288,000
224 N MAIN St, Canyonville, OR 97417
CommercialSale, Canyonville, OR
Property Size1,728 SF
Lot Size0.39 Acres
Price / SF$166.67
Days on Market917
Property Features for 224 N MAIN St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
View
City
Directions
North main street
Subdivision
_258
Standard status
Active
APN
R36542
Size
1,728 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Description
TRACT M&B V103 P273 LESS PT SD, ACRES 0.39
Tax Annual Amount
2539
Legal Description
TRACT M&B V103 P273 LESS PT SD, ACRES 0.39
Utilities
Heating system
Hot Water(Heating), Forced Air
Cooling system
Exhaust Fan (Cooling), Central Air
Water front
1
Building Details
Year built
1938
Floors in Building
1
Building materials
Brick, WoodFrame
Roof type
Metal
Listing Agency:
eXp Realty, LLC
(541) 637-5490
Listed By:
Raymond Coburn · License #201253788
(949) 891-4426
Added: Feb 24, 2024
Changed: Aug 29
Last Checked: Aug 29 at 11:06PM
MLS# 24257651
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 1,728-square-foot commercial storefront occupies a 0.39-acre parcel in Canyonville. The building dates to 1938 and combines brick and wood-frame construction beneath a metal roof. Central air, exhaust-fan cooling, forced-air heating, and hot-water heating are present. A serving window and elements of the former restaurant configuration remain, while the existing thrift-store contents are expected to be removed upon sale.
The property is located at 224 N Main St in Canyonville, Oregon, near Seven Feathers Casino and shopping centers. C zoning supports its commercial positioning, and the retained restaurant-related layout provides a defined starting point for a future operator or other storefront use.
The property is located at 224 N Main St in Canyonville, Oregon, near Seven Feathers Casino and shopping centers. C zoning supports its commercial positioning, and the retained restaurant-related layout provides a defined starting point for a future operator or other storefront use.
Key Highlights
- 1,728‑square‑foot commercial storefront on 0.39 acres
- C zoning in Canyonville, Oregon
- Serving window and original restaurant setup remain
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
$20,935
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
7.27%
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%
$418,700
$418.7K
Cap Rate 7%
$299,071
$299.1K
Cap Rate 9%
$232,611
$232.6K
Market Conditions
NOI Build-Up for 1,728 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
$29.4K $17.04/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$27.9K $16.15/SF
− OpEx
−$7.0K −$4.04/SF
NOI
$20.9K $12.12/SF
Area
Douglas County, OR
Vacancy
5.20%
Lease Rate
$17.04 /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%
$418,700
Cap Rate 7%
$299,071
Cap Rate 9%
$232,611
Alternative Uses
Best Use
Specialty Retail
$299.1K
$261.7K – $348.9K
NOI $20,935 @ 7.0% cap · market cap 7.27%
Second Best
Retail
$293.9K
$257.2K – $342.9K
NOI $20,575 @ 7.0% cap · market cap 7.14%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
201
Businesses Nearby
23k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Groceries 17%
Dining 5%
76
Shops & Services
5,047 visits/mo
0.4 miles
Chevron
Shops & Services
4,625 visits/mo
0.3 miles
Dollar General
Shops & Services
4,188 visits/mo
0.2 miles
Ray's Food Place
Groceries
3,936 visits/mo
0.1 miles
Umpqua Bank
Shops & Services
3,175 visits/mo
0.2 miles
Demographics for 97417, OR
2,175
Population
1,175
Households
1.9
Avg Household Size
54
Median Age
9%
College-Educated
87%
High-School Grad
28.6 sq mi
ZIP Area
76
Density / Sq Mi
$46,971
Median Household Income
$30,294
Median Earnings
$998
Median Rent
$218,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - C-zoned commercial building with a serving window and preserved restaurant-oriented improvements.
Where is this storefront property located?
The property is located at 224 N MAIN St Canyonville, OR.
What is the asking price?
The asking price for this property is $288,000.
What are key features of this property?
This property features: 1,728‑square‑foot commercial storefront on 0.39 acres; C zoning in Canyonville, Oregon; Serving window and original restaurant setup remain
