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    OFF-MARKET Estimated value $1,800,000
    Gas stations

    280 Hemlock St, Cannon Beach, OR 97110-3038

    0.23 ac lot Built 1960
    Entity Owned 1-yr Hold ~ Est. High Equity
    Property ID
    US71-1619421
    Property summary
    AI-generated overview

    This exceptional 10,019 square foot commercial land parcel presents a unique investment opportunity in the heart of Cannon Beach, Oregon. Located at 280 N Hemlock St, 97110, this C1-zoned property offers significant potential for a variety of commercial and residential uses. The asking price is $2,250,000, translating to $239.54 per square foot. A partial No Further Action (NFA) letter from the Oregon Department of Environmental Quality (DEQ) is in place, facilitating new development. Cannon Beach's thriving tourism market makes this a highly desirable location. The highest and best use is likely a mixed-use building, incorporating retail space on the ground floor and residential units (condos or a boutique hotel) above. Collaboration with the City of Cannon Beach is recommended to determine specific development requirements and off-street parking needs. This is a rare chance to create a landmark development in one of Oregon's most sought-after coastal destinations. Seize this opportunity to build your vision in a vibrant and lucrative market. The property's location in Clatsop County provides access to a strong local economy and a stunning natural setting. This prime location offers unparalleled visibility and accessibility for any commercial venture.

    Property profile
    Verified
    Property type Gas stations
    Use group SERVICE STATION (FULL SERVICE)
    Year built 1960
    Lot 0.23 ac (10,019 SF)
    APN 51019DD01602
    UPID US71-1619421
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $1.80M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $1.80M
    Owner & transaction history
    Nirankar INC · 1 yrs held
    Nirankar INC
    since 2024
    Last sale
    $1.8M
    1 recorded transaction
    2024
    $1.8M
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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