Retail and Office
3470 Highway 101 Gearhart, OR 97138
For Sale
$1,450,000
Updated retail and commercial space along Highway 101 with established long-term tenants.
Property Size8,020 SF
Price / SF$180.80
Days on Market307
Property Features for 3470 Highway 101
General Information
Standard status
Active
Size
8,020 SF
Property subtype
Commercial
Building Details
Year Built
2001
Listing Agency:
Windermere Realty Trust
Listed By:
Pamela Ackley
(877) 319-7625
Source:
Century21northhomes
Added: Sep 27, 2025
Changed: Jul 10
Last Checked: Jul 28 at 9:35PM
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 Windermere Realty Trust
Investment Insights
Based on property information with market context.
This for-sale retail and commercial property includes a main tenant space that has been updated with fresh paint and modern flooring. The building is positioned to support a tenant-friendly mix of uses, with configuration suited to retail operations and office-style occupancy, along with the possibility of a mixed-use setup depending on how the space is arranged.
The property is located along Highway 101 in central Gearhart, providing direct exposure to highway traffic. Its presentation is highlighted by the improvements made to the interior main tenant area, and the offering is supported by the presence of long-term tenants.
For buyers and operators, the combination of visible highway frontage, interior updates, and established tenancy can be attractive to those seeking an income-producing retail and office asset. The property’s layout and condition may also appeal to buyers looking for an adaptable commercial building that can be used as retail, office, or a combination of both, subject to tenant requirements and any applicable approvals. Interior video and a floor plan are available via the provided link.
The property is located along Highway 101 in central Gearhart, providing direct exposure to highway traffic. Its presentation is highlighted by the improvements made to the interior main tenant area, and the offering is supported by the presence of long-term tenants.
For buyers and operators, the combination of visible highway frontage, interior updates, and established tenancy can be attractive to those seeking an income-producing retail and office asset. The property’s layout and condition may also appeal to buyers looking for an adaptable commercial building that can be used as retail, office, or a combination of both, subject to tenant requirements and any applicable approvals. Interior video and a floor plan are available via the provided link.
Key Highlights
- Year built 2001
- Updated retail and commercial space along Highway 101 in central Gearhart
- Main tenant space includes fresh paint and modern flooring
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $258.9k | $32.28 |
| − Vacancy | −$82.8k | −$10.33 |
| EGI | $176.0k | $21.95 |
| − OpEx | −$52.8k | −$6.59 |
| NOI | $123.2k | $15.37 |
8,020 SF · lease $32.28/SF/yr · vacancy 32.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.92M
$1.68M – $2.24M
NOI $134,659 @ 7.0% cap · market cap 9.29%
Second Best
Retail
$1.76M
$1.54M – $2.05M
NOI $123,230 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,223 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Updated retail and commercial space along Highway 101 with established long-term tenants.
Where is this retail space located?
The property is located at 3470 Highway 101 Gearhart, OR.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Year built 2001; Updated retail and commercial space along Highway 101 in central Gearhart; Main tenant space includes fresh paint and modern flooring
