Remodeled Downtown
For Sale
$725,000
503 Main St, Oregon City, OR 97045
Owner-occupied commercial building with updated systems and existing retail-oriented business operations.
Property Size2,031 SF
Price / SF$356.97
Days on Market14
Property Features for 503 Main St
General Information
Standard status
Active
Size
2,031 SF
Building Details
Year Built
1919
Listing Agency:
Knipe Realty ERA Powered
(503) 201-8537
Listed By:
Daniel Silvey · License #201209834
Source:
Foxrealestategroups
Added: Aug 17
Changed: Aug 29
Last Checked: Aug 25 at 4:38AM
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 Knipe Realty ERA Powered
Investment Insights
Based on property information with market context.
This 2,031-square-foot storefront property occupies a historic downtown Oregon City building constructed in 1919 and substantially renovated in 2017. The work brought the structure to near-new condition with seismic improvements, a new HVAC system, roof, exterior siding, electrical service to the panel, plumbing to the street, sewer and grease-trap improvements, updated insulation and framing, new flooring, and custom shelving.
The property is currently occupied by White Rabbit Book Cafe, White Rabbit Gifts LLC, and Black Ink Coffee LLC, which is being phased out. The real estate and businesses are offered together, while business inventory is excluded. The site is across from the Tumwata Village development and several blocks from the Clackamas County Main Street Courthouse redevelopment.
The property is currently occupied by White Rabbit Book Cafe, White Rabbit Gifts LLC, and Black Ink Coffee LLC, which is being phased out. The real estate and businesses are offered together, while business inventory is excluded. The site is across from the Tumwata Village development and several blocks from the Clackamas County Main Street Courthouse redevelopment.
Key Highlights
- 2,031 SF storefront property in historic downtown Oregon City
- Comprehensively renovated in 2017 with seismic upgrades
- New HVAC, roof, exterior siding, electrical, plumbing, and insulation/framing
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
$28,248
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
3.90%
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%
$564,960
$565.0K
Cap Rate 7%
$403,543
$403.5K
Cap Rate 9%
$313,867
$313.9K
Market Conditions
NOI Build-Up for 2,031 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
$43.6K $21.48/SF
− Vacancy
−$3.3K −$1.61/SF
EGI
$40.4K $19.87/SF
− OpEx
−$12.1K −$5.96/SF
NOI
$28.2K $13.91/SF
Area
Clackamas County, OR
Vacancy
7.50%
Lease Rate
$21.48 /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%
$564,960
Cap Rate 7%
$403,543
Cap Rate 9%
$313,867
Alternative Uses
Best Use
Retail
$403.5K
$353.1K – $470.8K
NOI $28,248 @ 7.0% cap · market cap 3.90%
Second Best
Specialty Retail
$362.3K
$317.0K – $422.7K
NOI $25,362 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$548.2K
$479.7K – $639.6K
NOI $38,375 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,208
Businesses Nearby
51k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 32%
Dutch Bros. Coffee
Dining
24,557 visits/mo
0.3 miles
KFC
Dining
9,806 visits/mo
0.4 miles
7-Eleven
Shops & Services
9,057 visits/mo
0.2 miles
Chevron
Shops & Services
6,738 visits/mo
0.3 miles
Gerber Collision & Glass
Shops & Services
451 visits/mo
0.5 miles
Demographics for 97045, OR
57,403
Population
21,702
Households
2.6
Avg Household Size
41
Median Age
33%
College-Educated
95%
High-School Grad
86.8 sq mi
ZIP Area
661
Density / Sq Mi
$100,388
Median Household Income
$49,342
Median Earnings
$1,600
Median Rent
$563,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Secualhomeea — 216 Center St, Oregon City, OR 97045
- Wild Strawberry Florist — 716 Main St, Oregon City, OR 97045
Frequently Asked Questions
What type of property is this?
Storefront property - Owner-occupied commercial building with updated systems and existing retail-oriented business operations.
Where is this storefront property located?
The property is located at 503 Main St Oregon City, OR.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 2,031 SF storefront property in historic downtown Oregon City; Comprehensively renovated in 2017 with seismic upgrades; New HVAC, roof, exterior siding, electrical, plumbing, and insulation/framing
