Office Units with
For Sale
$575,000
901 Marine Dr, Astoria, OR 97103
Office property positioned in central Astoria with off-street parking and leasing flexibility.
Property Size2,511 SF
Price / SF$228.99
Days on Market44
Property Features for 901 Marine Dr
General Information
Standard status
Active
Size
2,511 SF
Building Details
Year Built
1970
Listing Agency:
Popkin Real Estate, LLC
(503) 739-7192
Listed By:
Mark Popkin
Source:
Wyndeekono
Added: Jul 18
Changed: Aug 29
Last Checked: Aug 25 at 5:52AM
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 Popkin Real Estate, LLC
Investment Insights
Based on property information with market context.
Office units at 901 Marine Dr in Astoria provide a centrally positioned commercial setting with off-street parking. The property is available for sale, and leasing is also identified as a potential occupancy structure.
Key Highlights
- Central Astoria office location
- Off‑street parking
- Available for sale
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
$42,161
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
7.33%
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%
$843,220
$843.2K
Cap Rate 7%
$602,300
$602.3K
Cap Rate 9%
$468,456
$468.5K
Market Conditions
NOI Build-Up for 2,511 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
$66.3K $26.40/SF
− Vacancy
−$10.1K −$4.01/SF
EGI
$56.2K $22.39/SF
− OpEx
−$14.1K −$5.60/SF
NOI
$42.2K $16.79/SF
Area
Clatsop County, OR
Vacancy
15.20%
Lease Rate
$26.40 /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%
$843,220
Cap Rate 7%
$602,300
Cap Rate 9%
$468,456
Alternative Uses
Best Use
Office B
$602.3K
$527.0K – $702.7K
NOI $42,161 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$730.1K
$638.8K – $851.7K
NOI $51,104 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 97103, OR
18,080
Population
8,007
Households
2.3
Avg Household Size
44
Median Age
25%
College-Educated
93%
High-School Grad
163.3 sq mi
ZIP Area
111
Density / Sq Mi
$75,080
Median Household Income
$41,222
Median Earnings
$1,156
Median Rent
$437,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office property positioned in central Astoria with off-street parking and leasing flexibility.
Where is this office units located?
The property is located at 901 Marine Dr Astoria, OR.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Central Astoria office location; Off‑street parking; Available for sale
