271 Hemlock StCannon Beach, OR 97110

Property Details for 271 Hemlock St

Year built

1925

Lot size

0.11 AC

Property size (Sq ft)

1,920 SF

Property type

Retail properties

Property subtype

Retail space

APN

51019DD00202

APU

51019DD00202

Description

This exceptional Cannon Beach storefront presents a compelling investment opportunity. The 1,920-square-foot building, constructed in 1925 and extensively renovated between 2021 and 2022 (roof in 2022, rear siding in 2021), sits on a 4,792-square-foot lot with dual street access. Located in a thriving commercial district, just steps from the beach, it enjoys high visibility and consistent foot and vehicle traffic. The property boasts 100% occupancy across its two units, generating a strong net operating income (NOI) of $69,386 and a 7.01% capitalization rate. Convenient parking is available via an easement on an adjacent lot, supplemented by ample street and public parking. The property's location in a popular tourist destination, Cannon Beach, Oregon (zip code 97110), ensures a steady stream of potential customers. Its zoning is commercial, making it suitable for a variety of businesses. Public transportation is accessible via Clatsop County's Sunset Empire Transportation District. This stabilized investment, with its prime location and strong financial performance, offers significant potential for long-term growth and return. The property's high traffic location, near popular restaurants and attractions, makes it ideal for businesses catering to tourists and locals alike. This is a rare opportunity to acquire a well-maintained, high-performing commercial property in a highly desirable coastal location.

• CAP approach

  CAP return

  Valuation

  6%

  $641,923

  6.5%

  $592,544

  7%

  $550,220

• Comparable approach

  Method

  Valuation

  Relative Method

  $955,615

  Geo Method

  $931,779

• Alternative Use

  Use

  Valuation

  Residential

  $499,833

  Hospitality

  $457,844

  Educational

  $380,921

  Medical

  $394,022

  Retail

  $592,544

Location Insight

City

Cannon Beach

County

Clatsop

State

Oregon

Latitude

45.8996

Longitude

-123.961

CBSA code

11820

CBSA name

ASTORIA, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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