Versatile Commercial Building with River
For Sale
$499,990
77231 Highway 101, Gardiner, OR 97441
Commercial property with operating space, river views, and live/work opportunity.
Property Size3,871 SF
Lot Size0.11 Acres
Price / SF$129.16
Days on Market207
Property Features for 77231 Highway 101
General Information
Standard status
Active
Size
3,871 SF
Lot size
0.11 Acres
Taxes and HOA fees
Annual Taxes
$1,022
Listing Agency:
Mast Realty Group
(541) 999-8994
Listed By:
Norm Lacey · License #200602208
(541) 999-8994
Source:
Exprealty
Added: Jan 26
Changed: Aug 21
Last Checked: Aug 21 at 9:34AM
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 Mast Realty Group
Investment Insights
Based on property information with market context.
This commercial building offers 3,871 sq ft of operating space on 0.11 acres in Gardiner, Oregon. Situated along Highway 101, the property provides visibility and views of the Umpqua River. The building presents a live/work opportunity with a livable area in the back that includes a kitchen, bathroom, and utilities. The property features a storefront with display windows, separate office space, and a dedicated bathroom. A spacious room with a garage door is suitable for receiving shipments or creating a showroom. A large back area is ideal for production, storage, or workshop space. The property also includes a loft area with high ceilings, 220V power, a heating system, and a pellet stove.
Key Highlights
- Prime Hwy 101 frontage with excellent visibility and Umpqua River views.
- 3,871 sq ft of versatile commercial space on 0.11 acres.
- Live/work opportunity with livable area including kitchen, bathroom, and utilities.
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
$33,454
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
6.69%
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%
$669,080
$669.1K
Cap Rate 7%
$477,914
$477.9K
Cap Rate 9%
$371,711
$371.7K
Market Conditions
NOI Build-Up for 3,871 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
$53.4K $13.80/SF
− Vacancy
−$8.8K −$2.28/SF
EGI
$44.6K $11.52/SF
− OpEx
−$11.2K −$2.88/SF
NOI
$33.5K $8.64/SF
Area
Douglas County, OR
Vacancy
16.50%
Lease Rate
$13.80 /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%
$669,080
Cap Rate 7%
$477,914
Cap Rate 9%
$371,711
Alternative Uses
Best Use
Retail
$658.5K
$576.2K – $768.2K
NOI $46,092 @ 7.0% cap · market cap 9.22%
Second Best
Office B
$477.9K
$418.2K – $557.6K
NOI $33,454 @ 7.0% cap · market cap 6.69%
Theoretical Best
Specialty Retail
$670.0K
$586.2K – $781.7K
NOI $46,899 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Explore this area
Business Placement
Demographics for 97441, OR
268
Population
150
Households
1.8
Avg Household Size
55
Median Age
39%
College-Educated
100%
High-School Grad
27.6 sq mi
ZIP Area
10
Density / Sq Mi
$135,567
Median Household Income
$65,735
Median Earnings
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Commercial property with operating space, river views, and live/work opportunity.
Where is this live-work space located?
The property is located at 77231 Highway 101 Gardiner, OR.
What is the asking price?
The asking price for this property is $499,990.
What are key features of this property?
This property features: Prime Hwy 101 frontage with excellent visibility and Umpqua River views.; 3,871 sq ft of versatile commercial space on 0.11 acres.; Live/work opportunity with livable area including kitchen, bathroom, and utilities.
