Riverfront Event Estate with
For Sale
Contact for pricing
23090 YAMHILL RIVER RD, Willamina, OR 97396
Fourteen-acre estate on the Yamhill River with an event venue, residence, and multiple on-site accommodations.
Property Size8,362 SF
Lot Size14.00 Acres
Price / SF$203.30
Days on Market52
Property Features for 23090 YAMHILL RIVER RD
General Information
Standard status
Active
Size
8,362 SF
Lot size
14.00 Acres
Property subtype
Hospitality, Land, Business for Sale
Zoning
AR5
Additional Details
Business Included
Yes
Water Rights
Yes
Building Details
Year Built
2003
Stories
1
Units
1
Listing Agency:
Berkshire Hathaway HomeServices Northwest Real Estate
(503) 708-4663
Listed By:
Brett Veatch · License #27602
Source:
Crexi
Added: Jun 30
Changed: Aug 18
Last Checked: Aug 19 at 10:24AM
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 Berkshire Hathaway HomeServices Northwest Real Estate
Investment Insights
Based on property information with market context.
Set on 14 acres along the Yamhill River, this riverfront estate is built around a 4,200-square-foot event venue with expansive garden views and a covered riverside banquet area for outdoor dining and gatherings. The property also includes a 2,078-square-foot riverfront residence with 2 bedrooms and 2 bathrooms, a separate 2-bedroom, 1-bath cottage, and a studio with a full bath currently suited for short-term rental use. For event operations, the venue has three additional bathrooms to support larger groups. Above the event center is an art studio with sky lights, offering potential conversion to a two-bedroom apartment.
The setting features mature landscaping, serene river views, and over 1,400 feet of river frontage. The estate is approved for weddings, corporate retreats, and special events. Additional amenities and utilities include valuable water rights and two ponds, plus several outbuildings such as a large lean-to for storage, a 7-bay tractor shed, grooms quarters, a potting shed, and a tool shed.
This configuration can serve as a turnkey event operation with on-site guest accommodations, while also supporting personal use with a full residence and auxiliary lodging. The short-term rental–suited studio adds flexibility for supplementary income, and the additional outbuildings provide practical storage and workspace for event and property operations.
The setting features mature landscaping, serene river views, and over 1,400 feet of river frontage. The estate is approved for weddings, corporate retreats, and special events. Additional amenities and utilities include valuable water rights and two ponds, plus several outbuildings such as a large lean-to for storage, a 7-bay tractor shed, grooms quarters, a potting shed, and a tool shed.
This configuration can serve as a turnkey event operation with on-site guest accommodations, while also supporting personal use with a full residence and auxiliary lodging. The short-term rental–suited studio adds flexibility for supplementary income, and the additional outbuildings provide practical storage and workspace for event and property operations.
Key Highlights
- 14‑acre Yamhill Riverfront estate with more than 1,400 ft of river frontage and two ponds
- 4,200 SF event venue with expansive garden views and a covered riverside banquet area for outdoor dining
- Approved for weddings, corporate retreats, and special events; venue includes 3 additional bathrooms
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
$107,368
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
6.32%
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%
$2,147,360
$2.1M
Cap Rate 7%
$1,533,829
$1.5M
Cap Rate 9%
$1,192,978
$1.2M
Market Conditions
NOI Build-Up for 8,362 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
$205.7K $24.60/SF
− Vacancy
−$10.5K −$1.25/SF
EGI
$195.2K $23.35/SF
− OpEx
−$87.8K −$10.51/SF
NOI
$107.4K $12.84/SF
Area
Yamhill County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$2,147,360
Cap Rate 7%
$1,533,829
Cap Rate 9%
$1,192,978
Alternative Uses
Best Use
Apartment 5plus
$1.53M
$1.34M – $1.79M
NOI $107,368 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.97M – $2.63M
NOI $157,998 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Water rights
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 97396, OR
3,426
Population
1,473
Households
2.3
Avg Household Size
40
Median Age
10%
College-Educated
94%
High-School Grad
54.6 sq mi
ZIP Area
63
Density / Sq Mi
$52,857
Median Household Income
$42,217
Median Earnings
$1,104
Median Rent
$324,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Wedding venue - Fourteen-acre estate on the Yamhill River with an event venue, residence, and multiple on-site accommodations.
Where is this wedding venue located?
The property is located at 23090 YAMHILL RIVER RD Willamina, OR.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 14‑acre Yamhill Riverfront estate with more than 1,400 ft of river frontage and two ponds; 4,200 SF event venue with expansive garden views and a covered riverside banquet area for outdoor dining; Approved for weddings, corporate retreats, and special events; venue includes 3 additional bathrooms
