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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3061 Ocean Beach Hwy Longview, WA 98632

    • Turn key restaurants
    • 8,148 SF
    • 0.68 lot acres
    For Lease
    View listing
    Last Sale
    Apr 12, 2024
    $899,995
    Value Estimations
    $855,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0021216
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 3061 Ocean Beach Hwy

    Year built
    1969
    Lot size
    0.68 lot acres
    Property size
    8,148 SF
    Property type
    Turn key restaurants
    APN
    6660
    APU
    6660

    Description

    This exceptional 5,800 square foot, Class A commercial property, located at 3061 Ocean Beach Hwy, Longview, offers three suites for lease in a brand-new, single-story building completed in 2024. The building features a convenient location with high traffic counts and excellent visibility, anchored by a Starbucks. Spaces are available in flexible sizes ranging from 1,500 to 3,300 square feet, catering to diverse business needs. The property is zoned for General Commercial use and boasts ample parking. Suites can be delivered as a vanilla shell or fully built-out, ready for immediate occupancy. The minimum leasable space is 1,500 square feet. This is an unparalleled opportunity to establish your business in a thriving Longview commercial hub. Lease rates are dependent on the desired space size and build-out condition. Delivery is anticipated for the third quarter of 2025. The property's APN is 06660 and is conveniently located near Michigan Ave. No elevators are present in this single-story building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $900,000
      ML approach
      $900,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $721,000
      Market price range: $660k - $1.89M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Longview
    County
    Cowlitz
    State
    Washington
    Longitude
    -122.964
    Latitude
    46.1472
    CBSA code
    31020
    CBSA name
    LONGVIEW, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,568
    $353,150
    $275,600
    $628,750
    -
    $353,150
    $275,600
    $628,750

    Comparable in this City

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      $840,000
      8,038 SF

      3353 Washington Way

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      3353 Washington Way, Longview, WA 98632-1942
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    • Value Estimation
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      614 Commerce Ave

      RESTAURANT • 3,612 SF
      614 Commerce Ave, Longview, WA 98632-1635
      View Details
    • Value Estimation
      $185,000
      3,300 SF

      1329 Commerce Ave

      RESTAURANT • 3,300 SF
      1329 Commerce Ave, Longview, WA 98632-3717
      View Details
    • Value Estimation
      $335,000
      2,557 SF

      1110 Commerce Ave

      RESTAURANT • 2,557 SF
      1110 Commerce Ave, Longview, WA 98632-3025
      View Details
    • Value Estimation
      $245,000
      3,312 SF

      561 Industrial Way

      RESTAURANT • 3,312 SF
      561 Industrial Way, Longview, WA 98632-1007
      View Details
    • Value Estimation
      $260,000
      3,957 SF

      4610 Ocean Bch Hwy

      RESTAURANT • 3,957 SF
      4610 Ocean Bch Hwy, Longview, WA 98632-9415
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Turnkey Drive-Thru Kiosk Opportunity

      Highly visible drive-thru kiosk, ideal for beverage or food service.
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      View Details
    • $11 SF/Yr
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      Downtown Retail/Restaurant Spaces Available

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      View Details
    • $13 SF/Yr
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      Longview Restaurant - For Lease

      Prime Longview restaurant, 4,062 sq ft.
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      View Details
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    Longview, WA 98632
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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