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    502 Spruce St Myrtle Point, OR 97458

    Sponsored
    For Sale
    $180,000

    Prime location, high income potential. Three units.

    Property size:
    3,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional retail opportunity in downtown Myrtle Point, Oregon presents three vacant storefronts totaling 3,000 square feet, ideal for a variety of uses. Located at 502 Spruce St, this property boasts a prime corner lot measuring approximately 50 x 60 feet (3,000-4,999 sq ft total lot size), ensuring high visibility and accessibility. The building, constructed in 1950, is currently undergoing interior and exterior renovations by the owner. Previously occupied by a bar, barbershop, and hair salon, the versatile space offers significant potential for diverse businesses. Each of the three units provides ample space for individual operations or a cohesive business model. The property is zoned CR, allowing for a range of commercial uses. Priced at $180,000 ($60/sq ft), this represents a compelling investment opportunity with strong potential for rental income or owner-occupied ventures. The APN is 3462400. Don't miss this chance to establish your business in a thriving downtown location.

    Property Features for 502 Spruce St

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,000 SF

    Building Details

    Year Built
    1950
    Buildings
    1
    Stories
    1
    Units
    3

    HighLights

    • $180,000 asking price for this vacant retail property.
    • 3,000 square feet on a 3,000‑4,999 sq ft lot.
    • Located at 502 Spruce St, Myrtle Point, OR 97458.
    • Features three units, previously used as a bar, barbershop, and salon.
    • Zoned CR.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Point
    County
    Coos couinty
    State
    Oregon
    Longitude
    -124.1417661
    Latitude
    43.0649429

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    Nearby Similar for Sale

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      Retail Location in Myrtle Point

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      431 Spruce St, Myrtle Point, OR 97458
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      Riverfront Acreage with Development Potential

      37.55 acres with river frontage and development opportunities.
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      Rural Property with Agricultural Potential

      10.88-acre property with orchard, grapevines, and barns.
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    FAQs

    What type of property is this?
    Individual retail property - Prime location, high income potential. Three units.
    Where is this individual retail property located?
    The property is located at 502 Spruce St Myrtle Point, OR.
    What is the asking price?
    The asking price for this property is $180,000.
    What are key features of this property?
    This property features: $180,000 asking price for this vacant retail property.; 3,000 square feet on a 3,000-4,999 sq ft lot.; Located at 502 Spruce St, Myrtle Point, OR 97458.
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    502 Spruce St Myrtle Point, OR 97458
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    502 Spruce St Myrtle Point, OR 97458
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