Seven-Unit Strip
New
For Sale
$1,199,000
385 NE Alsea Hwy, Waldport, OR 97394
The center combines ground-level suites with C-1 zoning in Waldport.
Property Size6,902 SF
Price / SF$173.72
Days on Market4
Property Features for 385 NE Alsea Hwy
General Information
Standard status
Active
Size
6,902 SF
Property subtype
Commercial
Zoning
C-1
Occupancy
100%
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$11,566
Building Details
Building Size
6,902 SF
Year Built
1998
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Taylor & Taylor Realty Co.
Listed By:
Dennis Regen · License #810604051
(541) 992-2177
Source:
Duanejohnson
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 3:44PM
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 Taylor & Taylor Realty Co.
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Investment Insights
Based on property information with market context.
Built in 1998, this retail center contains 6,902 square feet across seven single-level units, including a ground lease. A roof replacement was completed in 2024. The property occupies over half an acre, is zoned C-1, and is 100% occupied.
The site has approximately 300 feet of frontage along Alsea Highway. It is located at 385 NE Alsea Hwy in Waldport, Oregon.
The site has approximately 300 feet of frontage along Alsea Highway. It is located at 385 NE Alsea Hwy in Waldport, Oregon.
Key Highlights
- Seven commercial units, including a ground lease
- 6,902 square feet of single‑level commercial space
- 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,000
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,680,000
$1.7M
Cap Rate 7%
$1,200,000
$1.2M
Cap Rate 9%
$933,333
$933.3K
Market Conditions
NOI Build-Up for 6,902 SF
Gross rent
$124.2K $18.00/SF
− Vacancy
−$4.2K −$0.61/SF
EGI
$120.0K $17.39/SF
− OpEx
−$36.0K −$5.22/SF
NOI
$84.0K $12.17/SF
Area
Lincoln County, OR
Vacancy
3.41%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,680,000
Cap Rate 7%
$1,200,000
Cap Rate 9%
$933,333
Alternative Uses
Best Use
Retail
$1.20M
$1.05M – $1.40M
NOI $84,000 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,018 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Explore this area
Business Placement
Demographics for 97394, OR
5,361
Population
3,686
Households
1.5
Avg Household Size
59
Median Age
28%
College-Educated
95%
High-School Grad
51.7 sq mi
ZIP Area
104
Density / Sq Mi
$57,708
Median Household Income
$31,690
Median Earnings
$1,104
Median Rent
$354,400
Median Home Value
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Strip mall - The center combines ground-level suites with C-1 zoning in Waldport.
Where is this strip mall located?
The property is located at 385 NE Alsea Hwy Waldport, OR.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Seven commercial units, including a ground lease; 6,902 square feet of single‑level commercial space; 100% occupied
