Three-Building Auto Shop
New
For Sale
$350,000
371 NE Main ST, Willamina, OR 97396
Three-building commercial setup combines an operating repair shop with additional updated space.
Property Size1,100 SF
Price / SF$318.18
Days on Market2
Property Features for 371 NE Main ST
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Amenities
bathroom
drive-up window
concrete floors
roll-up doors
Building Details
Year Built
1978
Buildings
3
Listing Agency:
Mountain Valley Land Company
Listed By:
Brittany Gibbs
(503) 836-2010
Source:
Findhousesinoregon
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 2 at 4:25PM
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 Mountain Valley Land Company
Investment Insights
Based on property information with market context.
This auto shop property at 371 NE Main ST in Willamina, Oregon, includes three separate buildings and road frontage. The front structure is approximately 50' x 22' and includes a restroom and drive-up window. A second building, approximately 38' x 32', has received a new roof, siding, sheetrock, electrical system, and insulation.
The third building measures approximately 22' x 50' and is configured as an active mechanic shop, with concrete flooring and roll-up doors. The property also provides ample parking. Built in 1978, the site combines an operating automotive repair facility with additional commercial buildings suitable for office, retail, service, or related uses. Lifts and tools are excluded from the sale, with separate negotiation noted as possible.
The third building measures approximately 22' x 50' and is configured as an active mechanic shop, with concrete flooring and roll-up doors. The property also provides ample parking. Built in 1978, the site combines an operating automotive repair facility with additional commercial buildings suitable for office, retail, service, or related uses. Lifts and tools are excluded from the sale, with separate negotiation noted as possible.
Key Highlights
- Three separate commercial buildings on a road‑frontage property
- Operating mechanic shop with concrete floors and roll‑up doors
- Front building is approximately 50' x 22' with a restroom and drive‑up window
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
$13,167
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
3.76%
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%
$263,340
$263.3K
Cap Rate 7%
$188,100
$188.1K
Cap Rate 9%
$146,300
$146.3K
Market Conditions
NOI Build-Up for 1,100 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
$19.8K $18.00/SF
− Vacancy
−$990 −$0.90/SF
EGI
$18.8K $17.10/SF
− OpEx
−$5.6K −$5.13/SF
NOI
$13.2K $11.97/SF
Area
Yamhill County, OR
Vacancy
5.00%
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%
$263,340
Cap Rate 7%
$188,100
Cap Rate 9%
$146,300
Alternative Uses
Best Use
Retail
$188.1K
$164.6K – $219.5K
NOI $13,167 @ 7.0% cap · market cap 3.76%
Second Best
Industrial
$98.6K
$86.3K – $115.1K
NOI $6,904 @ 7.0% cap · market cap 1.97%
Theoretical Best
Office A
$296.9K
$259.8K – $346.4K
NOI $20,784 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97396, OR
3,426
Population
1,473
Households
2.3
Avg Household Size
40
Median Age
10%
College-Educated
94%
High-School Grad
54.6 sq mi
ZIP Area
63
Density / Sq Mi
$52,857
Median Household Income
$42,217
Median Earnings
$1,104
Median Rent
$324,500
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Willamina Automotive — 452 Main St, Willamina, OR 97396
Frequently Asked Questions
What type of property is this?
Auto shop - Three-building commercial setup combines an operating repair shop with additional updated space.
Where is this auto shop located?
The property is located at 371 NE Main ST Willamina, OR.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three separate commercial buildings on a road‑frontage property; Operating mechanic shop with concrete floors and roll‑up doors; Front building is approximately 50' x 22' with a restroom and drive‑up window
