Building Details

Building Size 1,873 SF

Year Built 1904

Stories 1

Construction brick

Listing Agency: Coldwell Banker Professional

Listed By: Tammy Gibson · License #201222563 Show Phone

Source: Duanejohnson

Added: Oct 21 Changed: Oct 26 Last Checked: Oct 29 at 7:48PM

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1,873-square-foot brick storefront was built in 1904 and includes a large storage area with a concrete floor. Updated electrical service and commercial plumbing with a grease trap support the building’s existing configuration. Interior features include stainless steel sinks, a water heater, an electric heater, a refrigerator, a bathroom, and abundant natural light.

The property is on E 3rd Street in downtown Lafayette and has frontage on Hwy 99. Its C-1 zoning and existing commercial plumbing are additional defining features.

Key Highlights

• 1,873‑square‑foot brick storefront built in 1904
• Large storage area with a concrete floor
• Updated electrical service and commercial plumbing with grease trap

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,420

Cap Rate

5.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$448,400 $448.4K

Cap Rate 7%

$320,286 $320.3K

Cap Rate 9%

$249,111 $249.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,873 SF

Gross rent

$33.7K $18.00/SF

− Vacancy

−$1.7K −$0.90/SF

EGI

$32.0K $17.10/SF

− OpEx

−$9.6K −$5.13/SF

NOI

$22.4K $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 Rate 5%

$448,400

Cap Rate 7%

$320,286

Cap Rate 9%

$249,111

Alternative Uses

Best Use

Retail

$320.3K

$280.3K – $373.7K (±1% cap)

NOI $22,420 @ 7.0% cap · market cap 5.62%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$505.6K

$442.4K – $589.8K (±1% cap)

NOI $35,390 @ 7.0% cap · market cap 8.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Eleventh Hour Productions Department Store

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm Restaurant Spa & Massage Center HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

178

Businesses Nearby

8k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

76 Shops & Services

7,514 visits/mo 0.1 miles

Demographics for 97127, OR

4,432

Population

1,432

Households

3.1

Avg Household Size

34

Median Age

16%

College-Educated

88%

High-School Grad

0.9 sq mi

ZIP Area

4,924

Density / Sq Mi

$96,419

Median Household Income

$39,468

Median Earnings

$1,144

Median Rent

$383,000

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Frequently Asked Questions

What type of property is this?

Storefront property - C-1-zoned space has updated electrical service, commercial plumbing, and substantial storage with a concrete floor.

Where is this storefront property located?

The property is located at 392 E 3rd St Lafayette, OR.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: 1,873‑square‑foot brick storefront built in 1904; Large storage area with a concrete floor; Updated electrical service and commercial plumbing with grease trap