Mixed-Use Property with Detached
New
For Sale
$475,000
504 ABERNETHY, Oregon City, OR 97045
MUN zoning permits both residential and commercial use in a flexible existing property.
Property Size2,498 SF
Price / SF$190.15
Days on Market4
Property Features for 504 ABERNETHY
General Information
Standard status
Active
Size
2,498 SF
Property subtype
Commercial
Zoning
MUN
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,264
Amenities
Composition Roof
Off Street
Building Details
Year Built
1924
Listing Agency:
OPT
(503) 679-6618
Listed By:
SEAN SHEPARD
Source:
Corcoran
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 7:48AM
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 OPT
Investment Insights
Based on property information with market context.
Built in 1924, this mixed-use property combines an existing residential-style building with MUN zoning that accommodates residential and commercial use. The property includes updated interior elements, a long driveway, and a detached garage for parking.
The address is in Oregon City’s lower old town area, within a few hundred yards of coffee shops, food carts, and restaurants. Freeway access is convenient, and other residential-style buildings along the street are occupied by offices, clinics, and retail businesses.
The address is in Oregon City’s lower old town area, within a few hundred yards of coffee shops, food carts, and restaurants. Freeway access is convenient, and other residential-style buildings along the street are occupied by offices, clinics, and retail businesses.
Key Highlights
- MUN zoning allows residential and commercial use
- Built in 1924
- Long driveway and detached garage provide on‑site parking
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
$39,242
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
8.26%
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%
$784,840
$784.8K
Cap Rate 7%
$560,600
$560.6K
Cap Rate 9%
$436,022
$436.0K
Market Conditions
NOI Build-Up for 2,498 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
$74.0K $29.64/SF
− Vacancy
−$11.3K −$4.51/SF
EGI
$62.8K $25.13/SF
− OpEx
−$23.5K −$9.43/SF
NOI
$39.2K $15.71/SF
Area
Clackamas County, OR
Vacancy
15.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
37.50%
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%
$784,840
Cap Rate 7%
$560,600
Cap Rate 9%
$436,022
Alternative Uses
Best Use
Mixed Use
$560.6K
$490.5K – $654.0K
NOI $39,242 @ 7.0% cap · market cap 8.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$674.3K
$590.0K – $786.7K
NOI $47,199 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,299
Businesses Nearby
Explore this area
Business Placement
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - MUN zoning permits both residential and commercial use in a flexible existing property.
Where is this mixed-use property located?
The property is located at 504 ABERNETHY Oregon City, OR.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: MUN zoning allows residential and commercial use; Built in 1924; Long driveway and detached garage provide on‑site parking
