Turnkey Restaurant &
For Sale
$450,000
883 SW Church St, Dallas, OR 97338
Fully equipped restaurant and pub in a prime Dallas location.
Property Size2,500 SF
Price / SF$180
Days on Market234
Property Features for 883 SW Church St
General Information
Standard status
Active
Size
2,500 SF
Building Details
Year Built
1932
Listing Agency:
JMG - Jason Mitchell Group
Listed By:
Donald Clemons · License #201224779
(503) 621-2072
Source:
Oregonhomeshop
Added: Jan 26
Changed: Sep 10
Last Checked: Sep 16 at 12:16AM
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 JMG - Jason Mitchell Group
Investment Insights
Based on property information with market context.
This is a fully equipped and operating restaurant and pub located at 883 SW Church St in Dallas, Oregon. Formerly Red Clover Public House, this established venue offers a warm, inviting atmosphere with a loyal customer base and excellent visibility. The property is situated in a high-traffic area with great visibility and easy access. It features a rustic and cozy pub-style ambiance with a spacious dining area. The full-service bar area is well-equipped with taps, refrigeration, and ample seating. The commercial-grade kitchen includes all essential appliances and prep space. An inviting patio provides additional dining space for seasonal events. Convenient on-site and street parking is available. This turnkey operation is ready for a new owner to take over and start serving immediately. The versatile space is ideal for a gastropub, family restaurant, or event venue. Growth opportunities include expanding catering services, hosting live entertainment, or refining the menu to boost revenue. This property is packed with potential.
Key Highlights
- Turnkey Restaurant & Pub: Fully equipped and operating, ready for immediate takeover.
- Prime Location: High‑traffic area with excellent visibility and easy access in Dallas, OR.
- Fully Equipped Kitchen: Commercial‑grade kitchen with all essential appliances and prep space.
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
$34,560
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
7.68%
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%
$691,200
$691.2K
Cap Rate 7%
$493,714
$493.7K
Cap Rate 9%
$384,000
$384.0K
Market Conditions
NOI Build-Up for 2,500 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
$48.0K $19.20/SF
− Vacancy
−$1.9K −$0.77/SF
EGI
$46.1K $18.43/SF
− OpEx
−$11.5K −$4.61/SF
NOI
$34.6K $13.82/SF
Area
Polk County, OR
Vacancy
4.00%
Lease Rate
$19.20 /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%
$691,200
Cap Rate 7%
$493,714
Cap Rate 9%
$384,000
Alternative Uses
Best Use
Specialty Retail
$493.7K
$432.0K – $576.0K
NOI $34,560 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$663.8K
$580.8K – $774.4K
NOI $46,464 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
Explore this area
Business Placement
Demographics for 97338, OR
22,741
Population
9,109
Households
2.5
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
124.8 sq mi
ZIP Area
182
Density / Sq Mi
$73,345
Median Household Income
$37,359
Median Earnings
$1,197
Median Rent
$388,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Pub - Fully equipped restaurant and pub in a prime Dallas location.
Where is this pub located?
The property is located at 883 SW Church St Dallas, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Turnkey Restaurant & Pub: Fully equipped and operating, ready for immediate takeover.; Prime Location: High‑traffic area with excellent visibility and easy access in Dallas, OR.; Fully Equipped Kitchen: Commercial‑grade kitchen with all essential appliances and prep space.
