Corner Lot Residential Income
For Sale
$895,000
4787 SW Highway 101, Lincoln City, OR 97367
COMMERCIAL - Lincoln City, OR
Property Size6,346 SF
Lot Size0.26 Acres
Price / SF$141.03
Days on Market909
Property Features for 4787 SW Highway 101
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
TVC - Taft Village Core
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Garage - Attached
Appliances
Dishwasher, Water Heater, Refrigerator
Subdivision
Taft
Lot features
Level
Directions
Hwy 101 to Taft to address
Standard status
Active
APN
071127DC-5400-00
Size
6,346 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
7991
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1955
Floors in Building
2
Roof type
Metal
Listing Agency:
Taylor & Taylor Realty Company
(800) 462-0197
Listed By:
Tamara L. Zimmerman · License #961000002
(541) 921-0220
Added: Feb 17, 2024
Changed: Aug 4
Last Checked: Aug 14 at 5:06AM
MLS# LC-100064
Copyright © 2026 Oregon Coast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This residential income building offers an apartment and an attached garage on a corner lot. The property is 0.26 acres and contains 6,346 square feet, built in 1955. A metal roof and electric heating serve the building, and public water and public sewer are in place. The interior includes two bathrooms, along with appliances such as a refrigerator, dishwasher, and water heater.
Located at 4787 SW Highway 101 in Lincoln City, Oregon, the property sits in the heart of the Historic Taft District within TVC - Taft Village Core zoning. The corner-lot placement along Highway 101 supports a wide range of possible uses, subject to buyer due diligence.
Prospective buyers should confirm all intended uses and requirements through their own due diligence, including any approvals needed under the property’s zoning and applicable regulations.
Located at 4787 SW Highway 101 in Lincoln City, Oregon, the property sits in the heart of the Historic Taft District within TVC - Taft Village Core zoning. The corner-lot placement along Highway 101 supports a wide range of possible uses, subject to buyer due diligence.
Prospective buyers should confirm all intended uses and requirements through their own due diligence, including any approvals needed under the property’s zoning and applicable regulations.
Key Highlights
- 0.26‑acre corner lot at 4787 SW Highway 101 in Lincoln City, OR
- 6,346 SF residential income building
- TVC - Taft Village Core zoning
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
$54,451
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
6.08%
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%
$1,089,020
$1.1M
Cap Rate 7%
$777,871
$777.9K
Cap Rate 9%
$605,011
$605.0K
Market Conditions
NOI Build-Up for 6,346 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
$102.8K $16.20/SF
− Vacancy
−$3.8K −$0.60/SF
EGI
$99.0K $15.60/SF
− OpEx
−$44.6K −$7.02/SF
NOI
$54.5K $8.58/SF
Area
Lincoln County, OR
Vacancy
3.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,089,020
Cap Rate 7%
$777,871
Cap Rate 9%
$605,011
Alternative Uses
Best Use
Apartment 5plus
$777.9K
$680.6K – $907.5K
NOI $54,451 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,867 @ 7.0% cap · market cap 12.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 97367, OR
11,095
Population
8,138
Households
1.4
Avg Household Size
53
Median Age
29%
College-Educated
91%
High-School Grad
45.7 sq mi
ZIP Area
243
Density / Sq Mi
$58,845
Median Household Income
$37,370
Median Earnings
$1,333
Median Rent
$388,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Residential income building with an attached garage, electric heat, metal roof, and public water and sewer in TVC zoning.
Where is this residential income property located?
The property is located at 4787 SW Highway 101 Lincoln City, OR.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 0.26‑acre corner lot at 4787 SW Highway 101 in Lincoln City, OR; 6,346 SF residential income building; TVC - Taft Village Core zoning
