Retail Building on Highway
815 NW Santiam Blvd Mill City, OR 97360
815 NW Santiam Blvd, Mill City, OR, 97360
Contact for pricing
For Sale
Contact for pricing
Stand-alone retail building with highway frontage and ample parking.
Property Size2,464 SF
Lot Size0.50 Acres
Price / SF$202.52
Days on Market1499
Property Features for 815 NW Santiam Blvd
General Information
- Standard status
- Active
- Size
- 2,464 SF
- Lot size
- 0.50 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1950
Listing Agency
Gall Real Estate Services, LLC
(503) 363-6051
Listed by
Jennifer Hand · License #OR 960600193
Source
Crexi
Added: Jun 10, 2022 Checked: Jul 17 at 3:48 am
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 Gall Real Estate Services, LLC
Investment Insights
Based on property information with market context.
This stand-alone retail building features frontage on Highway 22 and includes two access points. The parcel spans over 0.5 acres, providing ample on-site parking. A pole sign is in place. The interior includes some stainless steel elements, a flat top, a hood, and a walk-in from its prior use as a restaurant. Currently, the space is utilized as open retail and production area. The building includes two restrooms. The roof, insulation, and HVAC system are approximately 3 to 4 years old. The property has a size of 2464 square feet.
Key Highlights
- Highway 22 frontage for high visibility.
- Over 1/2 acre parcel with excellent on‑site parking.
- Recent updates include roof, insulation, and HVAC (3‑4 years old).
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.5k | $32.28 |
| − Vacancy | −$25.5k | −$10.33 |
| EGI | $54.1k | $21.95 |
| − OpEx | −$16.2k | −$6.59 |
| NOI | $37.9k | $15.37 |
2,464 SF · lease $32.28/SF/yr · vacancy 32.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$540.9K
$473.3K – $631.0K
NOI $37,860 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$717.8K
$628.1K – $837.5K
NOI $50,247 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Rex Images Promotions
(Bike/Boat/Book/etc) Store
FAQs
What type of property is this?
Retail space - Stand-alone retail building with highway frontage and ample parking.
Where is this retail space located?
The property is located at 815 NW Santiam Blvd Mill City, OR.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Highway 22 frontage for high visibility.; Over 1/2 acre parcel with excellent on‑site parking.; Recent updates include roof, insulation, and HVAC (3‑4 years old).
