Retail Building with
For Sale
$1,100,000
2420 Highway 101, Florence, OR 97439
Updated retail frontage pairs with a dedicated laundromat, paved parking, and customer amenities.
Property Size4,300 SF
Lot Size0.50 Acres
Price / SF$255.81
Days on Market131
Property Features for 2420 Highway 101
General Information
Standard status
Active
Size
4,300 SF
Total Parking Spaces
22
Lot size
0.50 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,134
Amenities
propane storage tank
ADA accessible showers and restroom
attendant room
security system
Building Details
Buildings
1
Listing Agency:
All State Real Estate
(541) 297-7777
Listed By:
Ray Penny
(541) 297-7777
Source:
Exprealty
Added: Apr 3
Changed: Aug 10
Last Checked: Aug 10 at 2:44AM
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 All State Real Estate
Investment Insights
Based on property information with market context.
Located at 2420 Highway 101 in Florence, this 4,300-square-foot retail property combines a front retail area with a rear laundromat. The front 2,200 square feet has recently received new windows and premium laminate flooring, and it is subject to a recent 10-year lease with escalation clauses. The rear portion includes 18 Dexter washers, 10 double-stacked dryers, digital card readers, three card-access showers, and an ADA-accessible restroom. A separate attendant room is configured for Fluff and Fold service. The property also includes a 1,000-gallon propane storage tank, a large paved parking area with 22 designated spaces, and a 12-camera Ring security system with remote access controls. Highway 101 frontage provides direct roadway exposure and access.
Key Highlights
- 4,300 SF retail and commercial building on a half‑acre parcel
- Front 2,200 SF retail area recently updated with new windows and premium laminate flooring
- Rear laundromat includes 18 Dexter washers and 10 double‑stacked dryers
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
$55,128
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
5.01%
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%
$1,102,560
$1.1M
Cap Rate 7%
$787,543
$787.5K
Cap Rate 9%
$612,533
$612.5K
Market Conditions
NOI Build-Up for 4,300 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
$85.1K $19.80/SF
− Vacancy
−$6.4K −$1.49/SF
EGI
$78.8K $18.32/SF
− OpEx
−$23.6K −$5.49/SF
NOI
$55.1K $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%
$1,102,560
Cap Rate 7%
$787,543
Cap Rate 9%
$612,533
Alternative Uses
Best Use
Retail
$787.5K
$689.1K – $918.8K
NOI $55,128 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$951.9K – $1.27M
NOI $76,149 @ 7.0% cap · market cap 6.92%
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
439
Businesses Nearby
82k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 22%
Groceries 12%
Hotels & Casinos 2%
McDonald's
Dining
15,476 visits/mo
0.2 miles
Dutch Bros. Coffee
Dining
12,980 visits/mo
0.2 miles
Grocery Outlet Bargain Market
Groceries
9,962 visits/mo
0.2 miles
Taco Bell
Dining
8,567 visits/mo
0.1 miles
A&W Restaurant
Dining
6,879 visits/mo
0.4 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 - Updated retail frontage pairs with a dedicated laundromat, paved parking, and customer amenities.
Where is this retail space located?
The property is located at 2420 Highway 101 Florence, OR.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,300 SF retail and commercial building on a half‑acre parcel; Front 2,200 SF retail area recently updated with new windows and premium laminate flooring; Rear laundromat includes 18 Dexter washers and 10 double‑stacked dryers
