Storefront Space with Salon
For Sale
Contact for pricing
Pending
265 S Main St, Independence, OR 97351
Ground-floor commercial space includes private rooms, plumbing fixtures, ADA restrooms, and a dedicated breakroom.
Property Size2,073 SF
Days on Market213
Property Features for 265 S Main St
General Information
Standard status
Pending
Size
2,073 SF
Property subtype
Retail
Zoning
MUPC
Building Details
Year Built
1912
Buildings
1
Stories
2
Units
1
Listing Agency:
SMI Real Estate
(503) 390-6060
Listed By:
Elesa Doll · License #OR 200708163
Source:
Crexi
Added: Jan 30
Changed: Aug 30
Last Checked: Aug 31 at 1:01AM
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 SMI Real Estate
Investment Insights
Based on property information with market context.
The 2,073-square-foot ground-floor storefront is configured for salon use, with two private rooms and an open central area containing three plumbing fixtures. A breakroom provides a utility sink and washer/dryer hookup, while two ADA restrooms serve the space. Floor-to-ceiling windows create a prominent street-facing presentation, complemented by tall ceilings and a remodeled interior with LVP flooring, LED illumination, and custom light fixtures.
The property is located at 265 S Main St in downtown Independence, within the MUPC zoning district. A basement adds storage and includes a small finished office that is excluded from the stated square footage. The site is one block from Riverfront Park, The Independence Hotel, and the Willamette River, with access to Monmouth, Dallas, S Salem, and W Salem.
The property is located at 265 S Main St in downtown Independence, within the MUPC zoning district. A basement adds storage and includes a small finished office that is excluded from the stated square footage. The site is one block from Riverfront Park, The Independence Hotel, and the Willamette River, with access to Monmouth, Dallas, S Salem, and W Salem.
Key Highlights
- 2,073 SF ground‑floor storefront at 265 S Main St
- Salon‑oriented layout with 2 private rooms and 3 plumbing fixtures
- Floor‑to‑ceiling windows and soaring ceiling heights
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
$24,944
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
4.16%
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%
$498,880
$498.9K
Cap Rate 7%
$356,343
$356.3K
Cap Rate 9%
$277,156
$277.2K
Market Conditions
NOI Build-Up for 2,073 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
$37.3K $18.00/SF
− Vacancy
−$1.7K −$0.81/SF
EGI
$35.6K $17.19/SF
− OpEx
−$10.7K −$5.16/SF
NOI
$24.9K $12.03/SF
Area
Polk County, OR
Vacancy
4.50%
Lease Rate
$18.00 /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%
$498,880
Cap Rate 7%
$356,343
Cap Rate 9%
$277,156
Alternative Uses
Best Use
Retail
$356.3K
$311.8K – $415.7K
NOI $24,944 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$550.4K
$481.6K – $642.1K
NOI $38,528 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
9k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 43%
Umpqua Bank
Shops & Services
4,473 visits/mo
0.4 miles
Krispy Krunchy Chicken
Dining
3,953 visits/mo
0.3 miles
U-Haul
Shops & Services
806 visits/mo
0.5 miles
Demographics for 97351, OR
11,292
Population
3,697
Households
3.1
Avg Household Size
34
Median Age
25%
College-Educated
89%
High-School Grad
52.3 sq mi
ZIP Area
216
Density / Sq Mi
$84,717
Median Household Income
$40,990
Median Earnings
$1,592
Median Rent
$357,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Ruby Rose, Floral, Plants & Gifts — 413 S Main St, Independence, OR 97351
Frequently Asked Questions
What type of property is this?
Storefront property - Ground-floor commercial space includes private rooms, plumbing fixtures, ADA restrooms, and a dedicated breakroom.
Where is this storefront property located?
The property is located at 265 S Main St Independence, OR.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,073 SF ground‑floor storefront at 265 S Main St; Salon‑oriented layout with 2 private rooms and 3 plumbing fixtures; Floor‑to‑ceiling windows and soaring ceiling heights
