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171 Sunset Blvd 9,700 SF 88% Leased Retail Building Cannon Beach, OR 97110 $3,150,000 ($324.74/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Live/work opportunity in a mixed residential and commercial use space! One of Cannon Beach's most visible locations on a corner lot. Plenty of parking
EXECUTIVE SUMMARY
Live and work at the beach! Polynesian inspired, award winning multi-use Cannon Beach commercial property. Prime location at midtown entrance off HWY 101 to Cannon Beach. Over 7,000 sqft of commercial space, 2,300 sqft of residential space with vaulted ceilings/skylights. Opportunity to expand. 28 on-site parking spaces and 100 feet of premium retail frontage on Sunset Blvd, wrapped with display windows. C1 zoning allows 50% residential use. Completely remodeled in 1994 to code. Capitalize on Oregon's favorite beach town!
Property being sold AS IS. Current improvements are underway & will be completed. New roof, Installation of Cadet Wall Heaters, Replace HVAC for residential units, Foundation improvement to SW corner with pin pilings. Disclosures and Floor plans available upon request. Signed NDA required for the release of P&L Statements, Lease Agreements & Rent Roll, Scope of work/Bids/contracts/completion date.
Property being sold AS IS. Current improvements are underway & will be completed. New roof, Installation of Cadet Wall Heaters, Replace HVAC for residential units, Foundation improvement to SW corner with pin pilings. Disclosures and Floor plans available upon request. Signed NDA required for the release of P&L Statements, Lease Agreements & Rent Roll, Scope of work/Bids/contracts/completion date.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
9,700 SF
Building Class
C
Year Built
1972
Price
$3,150,000
Price Per SF
$324.74
Cap Rate
6%
NOI
$189,000
Percent Leased
88%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.49
Lot Size
0.45 AC
Zoning
C1 - Mixed Use Commercial. Up to 50% residential use permitted.
Parking
28 Spaces (2.89 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Signage
- Skylights
- Storage Space
- Air Conditioning
- Smoke Detector
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171 Sunset Blvd
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