Four-Bay Automotive Repair
New
For Sale
$650,000
711 Spruce St, Myrtle Point, OR 97458
Paved automotive facility with service bays, loft storage, office space, and dedicated electrical capacity.
Property Size3,760 SF
Price / SF$172.87
Days on Market6
Property Features for 711 Spruce St
General Information
Standard status
Active
Size
3,760 SF
Additional Details
Utilities to Site
Yes
Service Bays
4
Amenities
fully paved lot
drive-over oil/lube pit
office/waiting area
ADA-compliant bathroom
plumbing for additional restroom
Building Details
Year Built
1995
Buildings
1
Construction
wood frame
Abandoned
No
Listing Agency:
Premiere Property Group, LLC
(541) 808-4566
Listed By:
Mark James · License #201210837
Source:
Wisser
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 28 at 8:33PM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
Located at 711 Spruce St in Myrtle Point, this 1995 automotive repair facility includes 3,760 square feet of shop space and 1,100 square feet of loft storage on nearly ¼ acre. The property is fully paved and configured with four service bays, with room for a potential fifth bay, along with a 275-square-foot office and waiting area and an ADA-compliant bathroom.
Improvements include two brand-new lifts, a drive-over oil/lube pit, 240V power, and two 200-amp service panels. Plumbing is in place for an additional restroom. The building features 2x6 framed walls, double sheetrock, and an attic firebreak. Equipment may be purchased separately, with an inventory list available.
Improvements include two brand-new lifts, a drive-over oil/lube pit, 240V power, and two 200-amp service panels. Plumbing is in place for an additional restroom. The building features 2x6 framed walls, double sheetrock, and an attic firebreak. Equipment may be purchased separately, with an inventory list available.
Key Highlights
- 3,760 SQ FT shop plus 1,100 SQ FT loft storage on nearly ¼ acre
- Four spacious bays with potential for a fifth
- Two brand‑new lifts and a drive‑over oil/lube pit
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
$39,796
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
6.12%
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%
$795,920
$795.9K
Cap Rate 7%
$568,514
$568.5K
Cap Rate 9%
$442,178
$442.2K
Market Conditions
NOI Build-Up for 3,760 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
$63.2K $16.80/SF
− Vacancy
−$6.3K −$1.68/SF
EGI
$56.9K $15.12/SF
− OpEx
−$17.1K −$4.54/SF
NOI
$39.8K $10.58/SF
Area
Coos County, OR
Vacancy
10.00%
Lease Rate
$16.80 /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%
$795,920
Cap Rate 7%
$568,514
Cap Rate 9%
$442,178
Alternative Uses
Best Use
Retail
$568.5K
$497.5K – $663.3K
NOI $39,796 @ 7.0% cap · market cap 6.12%
Second Best
Industrial
$433.6K
$379.4K – $505.9K
NOI $30,355 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$680.7K
$595.6K – $794.1K
NOI $47,647 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97458, OR
4,729
Population
2,376
Households
2
Avg Household Size
50
Median Age
13%
College-Educated
90%
High-School Grad
360.9 sq mi
ZIP Area
13
Density / Sq Mi
$51,703
Median Household Income
$41,406
Median Earnings
$800
Median Rent
$251,400
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
- Pete's Superior Collision Facility — 1541 Roseburg Rd, Myrtle Point, OR 97458
- Ken's Auto Services — 642 8th St, Myrtle Point, OR 97458
- Outlaw Auto Tire & Lube — 711 Spruce St, Myrtle Point, OR 97458
- Myrtle Point Gas — 734 Spruce St, Myrtle Point, OR 97458
Frequently Asked Questions
What type of property is this?
Auto shop - Paved automotive facility with service bays, loft storage, office space, and dedicated electrical capacity.
Where is this auto shop located?
The property is located at 711 Spruce St Myrtle Point, OR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,760 SQ FT shop plus 1,100 SQ FT loft storage on nearly ¼ acre; Four spacious bays with potential for a fifth; Two brand‑new lifts and a drive‑over oil/lube pit
