Retail and Office
For Sale
$1,395,000
3470 Highway 101, Gearhart, OR 97138
Updated retail and commercial space along Highway 101 with established long-term tenants.
Property Size8,020 SF
Price / SF$173.94
Days on Market402
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 · License #920100149
(503) 717-3796
Source:
Century21northhomes
Added: Sep 23, 2025
Changed: Oct 27
Last Checked: Oct 28 at 8:53AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$123,230
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,464,600
$2.5M
Cap Rate 7%
$1,760,429
$1.8M
Cap Rate 9%
$1,369,222
$1.4M
Market Conditions
NOI Build-Up for 8,020 SF
Gross rent
$258.9K $32.28/SF
− Vacancy
−$82.8K −$10.33/SF
EGI
$176.0K $21.95/SF
− OpEx
−$52.8K −$6.59/SF
NOI
$123.2K $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 Rate 5%
$2,464,600
Cap Rate 7%
$1,760,429
Cap Rate 9%
$1,369,222
Alternative Uses
Best Use
Retail
$1.76M
$1.54M – $2.05M
NOI $123,230 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,223 @ 7.0% cap · market cap 11.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Home Improvements & Furnishings 11%
Dollar General
Shops & Services
5,272 visits/mo
0.1 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
655 visits/mo
0.2 miles
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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 $1,395,000.
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
