Prime Ocean Shores Commercial
For Sale
$895,000
711 Point Brown Avenue Nw, Ocean Shores, WA 98569
Office/retail property with high potential in downtown Ocean Shores.
Property Size4,416 SF
Lot Size0.46 Acres
Price / SF$202.67
Days on Market125
Property Features for 711 Point Brown Avenue Nw
General Information
Standard status
Active
Size
4,416 SF
Lot size
0.46 Acres
Taxes and HOA fees
Annual Taxes
$3,707
Listing Agency:
John L. Scott Ocean Shores
(360) 289-1000
Listed By:
Thorn N. Ward · License #13429
(360) 289-1000
Source:
Exprealty
Added: Apr 20
Changed: Aug 20
Last Checked: Aug 21 at 11:40AM
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 John L. Scott Ocean Shores
Investment Insights
Based on property information with market context.
This commercial property is located at a main street intersection in downtown Ocean Shores, adjacent to McDonalds and backing up to the Ocean Shores Convention Center. The property, zoned B-1 retail business, features access from two streets and comprises a 20,000 sqft parcel. The site includes a two-story office building that houses John L Scott Real Estate, a tenant of 48 years. The building contains 18 ground-floor offices and a lobby, totaling 3,536 sqft, along with a large 880 sqft upper-floor conference room and storage area. The office space is currently underutilized, with approximately 50% occupancy, presenting a high potential for additional tenants. The property also offers a vast area for parking or expansion. There are two entrances to the building. An adjacent 20,000 sqft lot is also available. The east 60-foot portion of the land has a coffee stand tenant providing income.
Key Highlights
- Prime Main Street intersection location, adjacent to McDonalds in downtown Ocean Shores.
- Largest available parcel (20,000 sqft) in downtown Ocean Shores with access from 2 streets.
- Zoned B‑1 retail business with vast area for parking or expansion.
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
$62,001
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
6.93%
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%
$1,240,020
$1.2M
Cap Rate 7%
$885,729
$885.7K
Cap Rate 9%
$688,900
$688.9K
Market Conditions
NOI Build-Up for 4,416 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
$106.0K $24.00/SF
− Vacancy
−$23.3K −$5.28/SF
EGI
$82.7K $18.72/SF
− OpEx
−$20.7K −$4.68/SF
NOI
$62.0K $14.04/SF
Area
Grays Harbor County, WA
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,240,020
Cap Rate 7%
$885,729
Cap Rate 9%
$688,900
Alternative Uses
Best Use
Office B
$885.7K
$775.0K – $1.03M
NOI $62,001 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,211 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 98569, WA
6,964
Population
5,884
Households
1.2
Avg Household Size
62
Median Age
22%
College-Educated
93%
High-School Grad
13.3 sq mi
ZIP Area
524
Density / Sq Mi
$62,772
Median Household Income
$34,182
Median Earnings
$1,177
Median Rent
$373,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office/retail property with high potential in downtown Ocean Shores.
Where is this office building located?
The property is located at 711 Point Brown Avenue Nw Ocean Shores, WA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Prime Main Street intersection location, adjacent to McDonalds in downtown Ocean Shores.; Largest available parcel (20,000 sqft) in downtown Ocean Shores with access from 2 streets.; Zoned B‑1 retail business with vast area for parking or expansion.
