Two-Story Office
For Sale
$895,000
711 Point Brown Ave NW, Ocean Shores, WA 98569
The property carries B-1 retail business zoning and includes ground-floor offices plus an upper-level conference area.
Property Size4,416 SF
Lot Size0.46 Acres
Price / SF$202.67
Days on Market14
Property Features for 711 Point Brown Ave NW
General Information
Standard status
Active
Size
4,416 SF
Lot size
0.46 Acres
Zoning
B-1
Occupancy
50%
Site & Location
Corner Location
Yes
Road Access
Yes
Additional Details
Office Units
18
Building Details
Year Built
1977
Buildings
1
Stories
2
Building Size
4,416 SF
Tenancy
Multi
Listing Agency:
John L. Scott Ocean Shores
(360) 289-1000
Listed By:
Thorn N. Ward · License #13429
Source:
Navidirealty
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 29 at 12:23PM
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 two-story office property occupies a 20,000-square-foot parcel and includes 18 ground-floor offices with a lobby totaling 3,536 square feet. The upper level provides an 880-square-foot conference room and storage area, with two building entrances. John L Scott Real Estate has occupied the property for 48 years, while approximately 50% of the office space is currently in use.
The site is positioned at a Main Street intersection in downtown Ocean Shores, adjacent to McDonald's and the Ocean Shores Convention Center. Access is available from two streets. The property is zoned B-1 retail business and includes a coffee stand tenant on the east 60-foot portion of the land. The 1977 building is offered with substantial parcel area surrounding the improvements.
The site is positioned at a Main Street intersection in downtown Ocean Shores, adjacent to McDonald's and the Ocean Shores Convention Center. Access is available from two streets. The property is zoned B-1 retail business and includes a coffee stand tenant on the east 60-foot portion of the land. The 1977 building is offered with substantial parcel area surrounding the improvements.
Key Highlights
- 20,000‑square‑foot parcel with access from two streets
- Two‑story office building with 18 ground‑floor offices and lobby
- 3,536‑square‑foot ground‑floor office area plus an 880‑square‑foot upper conference room/storage area
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
Retail
$761.5K
$666.3K – $888.4K
NOI $53,305 @ 7.0% cap · market cap 5.96%
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
Lease Details
18
Office units
50%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
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 - The property carries B-1 retail business zoning and includes ground-floor offices plus an upper-level conference area.
Where is this office building located?
The property is located at 711 Point Brown Ave 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: 20,000‑square‑foot parcel with access from two streets; Two‑story office building with 18 ground‑floor offices and lobby; 3,536‑square‑foot ground‑floor office area plus an 880‑square‑foot upper conference room/storage area
