502 Spruce St Myrtle Point, OR 97458
- Bars
- 3,000 SF
Current Use by Public Records
- Bars
Property Details for 502 Spruce St
- Year built
- 1950
- Property size
- 3,000 SF
- Zone code
- CR
- Property type
- Bars
- Property subtype
- Pubs
- APN
- 29 S 12 W 09 CC 4000
- APU
- 29S12W09CC4000
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $95,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $70,000
- 6.5%
- $75,000
- 7%
- $80,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $80,000
- Geo Method
- $80,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $60,000
- Retail
- $85,000
- Mixed-Use
- $80,000
- Hospitality
- $60,000
- Educational
- $65,000
- Residential Income
- $65,000
- Energy
- $75,000
- Income-Based Land
- $75,000
- Food Service
- $65,000
Location Insight
- Map
- Local Demand
- City
- Myrtle Point
- County
- Coos
- State
- Oregon
- Longitude
- -124.142
- Latitude
- 43.0649
- CBSA code
- 18300
- CBSA name
- COOS BAY, OR MICROPOLITAN STATISTICAL AREA
