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264 W Marine Dr 4,763 SF 100% Leased Office Building Astoria, OR 97103 $1,200,000 ($251.94/SF) 3.28% Cap Rate
INVESTMENT HIGHLIGHTS
- W Marine Drive frontage
- Astoria Riverwalk to the Port of Astoria and downtown restaurants, breweries and hotels
- Columbia River Views
EXECUTIVE SUMMARY
Great location for multi use commercial in the growing area of West Marine in Astoria. Located on the railway and river walk for easy access to downtown with good income for an investor or private party to live/work. Own a piece of early Astoria history! Seller will carry. Call Pam for more information.
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$57,600
|
$12.09
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$57,600
|
$12.09
|
| Taxes |
$3,500
|
$0.73
|
| Operating Expenses |
$14,800
|
$3.11
|
| Total Expenses |
$18,300
|
$3.84
|
| Net Operating Income |
$39,300
|
$8.25
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $57,600 |
| Annual Per SF | $12.09 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $57,600 |
| Annual Per SF | $12.09 |
| Taxes | |
|---|---|
| Annual | $3,500 |
| Annual Per SF | $0.73 |
| Operating Expenses | |
|---|---|
| Annual | $14,800 |
| Annual Per SF | $3.11 |
| Total Expenses | |
|---|---|
| Annual | $18,300 |
| Annual Per SF | $3.84 |
| Net Operating Income | |
|---|---|
| Annual | $39,300 |
| Annual Per SF | $8.25 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
4,763 SF
Building Class
C
Year Built/Renovated
1920/2021
Price
$1,200,000
Price Per SF
$251.94
Cap Rate
3.28%
NOI
$39,300
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,382 SF
Building FAR
0.73
Lot Size
0.15 AC
Zoning
C3
1 1
PROPERTY TAXES
| Parcel Number | 21481 | Total Assessment | $194,726 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $3,500 ($0.73/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
21481
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$194,726 (2025)
Annual Taxes
$3,500 ($0.73/SF)
Tax Year
2024
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264 W Marine Dr
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