Downtown Waldport Commercial Warehouse
For Sale
Contact for pricing
425 NW Cedar Street, Waldport, OR 97394
Commercial warehouse in downtown Waldport with Alsea Bridge views.
Property Size1,920 SF
Lot Size0.23 Acres
Price / SF$285.83
Days on Market883
Property Features for 425 NW Cedar Street
General Information
Standard status
Active
Size
1,920 SF
Lot size
0.23 Acres
Property subtype
Mixed Use, Retail, Industrial
Zoning
DD
Building Details
Year Built
1936
Listing Agency:
Emerald Coast Realty
(541) 283-3589
Listed By:
Richard Hoffman · License #201012111
Source:
Crexi
Added: Mar 21, 2024
Changed: Aug 20
Last Checked: Aug 20 at 12:55PM
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 Emerald Coast Realty
Investment Insights
Based on property information with market context.
This 1920 square foot commercial warehouse is situated on a 0.23 acre lot in downtown Waldport, offering views of the Alsea Bridge and Bay. The property includes a large paved area suitable for additional parking, a workshop, or recreational vehicle storage. Zoned Downtown District, the property allows for a variety of uses, including a retail store, shop, bar, restaurant, brewery, food store, drug store, apparel store, or hardware store. The zoning also permits mixed commercial and residential use, offering unique possibilities. Interested parties should consult with the City Planner to confirm specific uses. The property is shown by appointment only.
Key Highlights
- Prime downtown Waldport location with Alsea Bridge and Bay views.
- 1920 Sq. Ft. commercial warehouse/business space on a .23 acre lot.
- Zoned Downtown District allowing for diverse commercial and residential uses (retail, restaurant, brewery, etc.).
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
$23,574
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
4.30%
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%
$471,480
$471.5K
Cap Rate 7%
$336,771
$336.8K
Cap Rate 9%
$261,933
$261.9K
Market Conditions
NOI Build-Up for 1,920 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
$28.8K $15.00/SF
− Vacancy
−$1.1K −$0.56/SF
EGI
$27.7K $14.45/SF
− OpEx
−$4.2K −$2.17/SF
NOI
$23.6K $12.28/SF
Area
Lincoln County, OR
Vacancy
3.70%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
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%
$471,480
Cap Rate 7%
$336,771
Cap Rate 9%
$261,933
Alternative Uses
Best Use
Warehouse
$336.8K
$294.7K – $392.9K
NOI $23,574 @ 7.0% cap · market cap 4.30%
Second Best
Retail
$333.8K
$292.1K – $389.5K
NOI $23,367 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$500.8K
$438.2K – $584.3K
NOI $35,056 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
Explore this area
Business Placement
Demographics for 97394, OR
5,361
Population
3,686
Households
1.5
Avg Household Size
59
Median Age
28%
College-Educated
95%
High-School Grad
51.7 sq mi
ZIP Area
104
Density / Sq Mi
$57,708
Median Household Income
$31,690
Median Earnings
$1,104
Median Rent
$354,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial warehouse in downtown Waldport with Alsea Bridge views.
Where is this mixed-use property located?
The property is located at 425 NW Cedar Street Waldport, OR.
What is the asking price?
The asking price for this property is $548,800.
What are key features of this property?
This property features: Prime downtown Waldport location with Alsea Bridge and Bay views.; 1920 Sq. Ft. commercial warehouse/business space on a .23 acre lot.; Zoned Downtown District allowing for diverse commercial and residential uses (retail, restaurant, brewery, etc.).
