Freestanding Retail
For Sale
$2,495,000
320 SW Emigrant Ave, Pendleton, OR 97801
Two separately configured suites offer showroom, office, restroom, loading, and storage components within C-1/CMU zoning.
Property Size26,300 SF
Price / SF$94.87
Days on Market20
Property Features for 320 SW Emigrant Ave
General Information
Standard status
Active
Size
26,300 SF
Zoning
C-1/CMU
Additional Details
Utilities to Site
Yes
Amenities
3-phase power
dock-high truck loading dock
dock-high door
roll-up door
basement storage
Building Details
Year Built
1956
Buildings
1
Tenancy
Multi
Listing Agency:
The Whitney Land Company
(509) 737-9429
Listed By:
Ashley Moala · License ##138102
Source:
Christiesrealestateevg
Added: Aug 10
Changed: Aug 28
Last Checked: Aug 28 at 1:07PM
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 The Whitney Land Company
Investment Insights
Based on property information with market context.
This freestanding retail property contains 26,300 SF and is arranged as two suites with shared below-grade storage. Suite 320 measures approximately 9,227 SF and includes a showroom, private office, restrooms, dock-high truck access, and basement space. Suite 336 encompasses approximately 11,473 SF with showroom, restrooms, rear inventory space, a private office, dock-high loading, and a roll-up door. The building was constructed in 1956 and has 3-phase power, with 5,600 SF of basement storage.
The property is located at 320 SW Emigrant Ave in Pendleton, Oregon, near residential neighborhoods and along Emigrant Ave and Frazer, identified as major arterial roads through town. Suite 320 is occupied by Western Auto on a month-to-month basis. The property is available for sale or lease and carries C-1/CMU zoning, which supports various uses as stated in the source information.
The property is located at 320 SW Emigrant Ave in Pendleton, Oregon, near residential neighborhoods and along Emigrant Ave and Frazer, identified as major arterial roads through town. Suite 320 is occupied by Western Auto on a month-to-month basis. The property is available for sale or lease and carries C-1/CMU zoning, which supports various uses as stated in the source information.
Key Highlights
- 26,300 SF freestanding retail building constructed in 1956
- Two retail suites measuring approximately 9,227 SF and 11,473 SF
- 5,600 SF of below‑grade basement storage
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
$155,086
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
6.22%
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%
$3,101,720
$3.1M
Cap Rate 7%
$2,215,514
$2.2M
Cap Rate 9%
$1,723,178
$1.7M
Market Conditions
NOI Build-Up for 26,300 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
$236.7K $9.00/SF
− Vacancy
−$15.1K −$0.58/SF
EGI
$221.6K $8.42/SF
− OpEx
−$66.5K −$2.53/SF
NOI
$155.1K $5.90/SF
Area
Umatilla County, OR
Vacancy
6.40%
Lease Rate
$9.00 /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%
$3,101,720
Cap Rate 7%
$2,215,514
Cap Rate 9%
$1,723,178
Alternative Uses
Best Use
Retail
$3.63M
$3.17M – $4.23M
NOI $253,970 @ 7.0% cap · market cap 10.18%
Second Best
Industrial
$2.22M
$1.94M – $2.58M
NOI $155,086 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$5.51M
$4.82M – $6.42M
NOI $385,385 @ 7.0% cap · market cap 15.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
972
Businesses Nearby
25k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 43%
Home Improvements & Furnishings 35%
Dining 18%
Hotels & Casinos 3%
Ace Hardware Pendleton
Home Improvements & Furnishings
5,030 visits/mo
0.2 miles
Papa Murphy's
Dining
4,561 visits/mo
0.4 miles
Circle K
Shops & Services
4,170 visits/mo
0.2 miles
U.S. Bank
Shops & Services
3,917 visits/mo
0.2 miles
Mobil
Shops & Services
2,697 visits/mo
0.1 miles
Demographics for 97801, OR
21,882
Population
9,033
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
92%
High-School Grad
496.2 sq mi
ZIP Area
44
Density / Sq Mi
$73,308
Median Household Income
$38,719
Median Earnings
$924
Median Rent
$277,600
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?
Storefront property - Two separately configured suites offer showroom, office, restroom, loading, and storage components within C-1/CMU zoning.
Where is this storefront property located?
The property is located at 320 SW Emigrant Ave Pendleton, OR.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: 26,300 SF freestanding retail building constructed in 1956; Two retail suites measuring approximately 9,227 SF and 11,473 SF; 5,600 SF of below‑grade basement storage
