Mixed-Use Property with River
For Sale
$1,595,000
2480 S Roosevelt Dr, Seaside, OR 97138
C-3 General Commercial property combines retail space, residential living areas, parking, and expansion land.
Property Size6,114 SF
Lot Size0.95 Acres
Days on Market110
Property Features for 2480 S Roosevelt Dr
General Information
Standard status
Active
Size
6,114 SF
Total Parking Spaces
23
Lot size
0.95 Acres
Property subtype
Commercial
Zoning
C3
Taxes and HOA fees
Annual Taxes
$10,033
Building Details
Building Size
6,114 SF
Year Built
1980
Stories
2
Listing Agency:
Cascade Hasson Sotheby's International Realty
(503) 436-9000
Listed By:
Abbas Atwi
(503) 310-8464
Source:
Metanars
Added: May 19
Changed: Sep 5
Last Checked: Aug 18 at 8:46AM
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 Cascade Hasson Sotheby's International Realty
Investment Insights
Based on property information with market context.
Located at 2480 S Roosevelt Dr in Seaside, this mixed-use property occupies approximately .95 acre and provides more than 6,000 square feet across commercial and residential components. The main level contains approximately 4,000 SF of retail/commercial area with select fixtures and professional kitchen equipment. Above, more than 2,100 SF of residential space includes 3 bedrooms, 5 bathrooms, generous living areas, and river and golf course views.
The site includes 23 parking spaces and additional vacant land for potential expansion or future development. C-3 General Commercial zoning supports the property’s mixed-use configuration, subject to confirmation of permitted uses and development requirements with the City of Seaside. Its position along the North Coast tourism corridor places it between Gearhart and Astoria to the north and Cannon Beach and Manzanita to the south.
The site includes 23 parking spaces and additional vacant land for potential expansion or future development. C-3 General Commercial zoning supports the property’s mixed-use configuration, subject to confirmation of permitted uses and development requirements with the City of Seaside. Its position along the North Coast tourism corridor places it between Gearhart and Astoria to the north and Cannon Beach and Manzanita to the south.
Key Highlights
- Approximately .95‑acre mixed‑use property at 2480 S Roosevelt Dr, Seaside
- More than 6,000 square feet across commercial and residential areas
- Approximately 4,000 SF of main‑level retail/commercial space
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
$93,943
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
5.89%
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%
$1,878,860
$1.9M
Cap Rate 7%
$1,342,043
$1.3M
Cap Rate 9%
$1,043,811
$1.0M
Market Conditions
NOI Build-Up for 6,114 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
$197.4K $32.28/SF
− Vacancy
−$63.2K −$10.33/SF
EGI
$134.2K $21.95/SF
− OpEx
−$40.3K −$6.59/SF
NOI
$93.9K $15.37/SF
Area
Clatsop County, OR
Vacancy
32.00%
Lease Rate
$32.28 /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%
$1,878,860
Cap Rate 7%
$1,342,043
Cap Rate 9%
$1,043,811
Alternative Uses
Best Use
Retail
$1.34M
$1.17M – $1.57M
NOI $93,943 @ 7.0% cap · market cap 5.89%
Second Best
Mixed Use
$576.5K
$504.4K – $672.5K
NOI $40,352 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$1.78M
$1.56M – $2.07M
NOI $124,432 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 97138, OR
11,248
Population
7,785
Households
1.4
Avg Household Size
48
Median Age
28%
College-Educated
92%
High-School Grad
146.0 sq mi
ZIP Area
77
Density / Sq Mi
$51,993
Median Household Income
$39,285
Median Earnings
$1,004
Median Rent
$433,200
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?
Mixed-use property - C-3 General Commercial property combines retail space, residential living areas, parking, and expansion land.
Where is this mixed-use property located?
The property is located at 2480 S Roosevelt Dr Seaside, OR.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Approximately .95‑acre mixed‑use property at 2480 S Roosevelt Dr, Seaside; More than 6,000 square feet across commercial and residential areas; Approximately 4,000 SF of main‑level retail/commercial space
