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Multifamily plus 1 office space 29 Nehalem St 4,114 SF 100% Leased Office Building Clatskanie, OR 97016 $499,900 ($121.51/SF) 7.30% Cap Rate
Investment Highlights
- Great Investment or Owner User property
Executive Summary
Multifamily + 1 office space! Great visibility & upside in this mixed-use, two-story building in the center of Clatskanie,
Oregon just off HWY 30! The Town has many yummy restaurants and interesting retail shops. There are many community Events across the street in the huge park with a great community pool. It is close to Longview WA and a short drive to Astoria OR. The building is approx. 4,114 SF and sits on top of 5,451 SF of land.
The ground floor includes an approx. 1,200 SF commercial space leased to State Farm Insurance
and a residential unit behind the commercial space with one bedroom/one bathroom. The second
floor has three fully leased units; two large units with one bedroom/one bathroom and a unit
with two bedrooms/one bathroom. The property includes seven uncovered parking spaces. This
property has great potential upside if rents are brought to market rates. Currently offering a
7.3% CAP Rate and a GRM of 9 times gross. Call today for more details.
Oregon just off HWY 30! The Town has many yummy restaurants and interesting retail shops. There are many community Events across the street in the huge park with a great community pool. It is close to Longview WA and a short drive to Astoria OR. The building is approx. 4,114 SF and sits on top of 5,451 SF of land.
The ground floor includes an approx. 1,200 SF commercial space leased to State Farm Insurance
and a residential unit behind the commercial space with one bedroom/one bathroom. The second
floor has three fully leased units; two large units with one bedroom/one bathroom and a unit
with two bedrooms/one bathroom. The property includes seven uncovered parking spaces. This
property has great potential upside if rents are brought to market rates. Currently offering a
7.3% CAP Rate and a GRM of 9 times gross. Call today for more details.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$54,720
|
$13.30
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$1,000
|
$0.24
|
| Effective Gross Income |
$53,720
|
$13.06
|
| Taxes |
$2,354
|
$0.57
|
| Operating Expenses |
$13,000
|
$3.16
|
| Total Expenses |
$15,354
|
$3.73
|
| Net Operating Income |
$38,366
|
$9.33
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $54,720 |
| Annual Per SF | $13.30 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $1,000 |
| Annual Per SF | $0.24 |
| Effective Gross Income | |
|---|---|
| Annual | $53,720 |
| Annual Per SF | $13.06 |
| Taxes | |
|---|---|
| Annual | $2,354 |
| Annual Per SF | $0.57 |
| Operating Expenses | |
|---|---|
| Annual | $13,000 |
| Annual Per SF | $3.16 |
| Total Expenses | |
|---|---|
| Annual | $15,354 |
| Annual Per SF | $3.73 |
| Net Operating Income | |
|---|---|
| Annual | $38,366 |
| Annual Per SF | $9.33 |
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Office/Residential
Building Size
4,114 SF
Building Class
C
Year Built
1987
Price
$499,900
Price Per SF
$121.51
Cap Rate
7.30%
NOI
$36,493
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,057 SF
Building FAR
0.75
Lot Size
0.13 AC
Zoning
C1 - The purpose of the commercial 1 (C-1) district is to provide for general retail sales and service to neighborhoods within the county.
Parking
7 Spaces (1.7 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Finance and Insurance
- -
- -
- -
State Farm began in 1922 as a mutual auto insurer founded by George J. Mecherle, who wanted pricing based on drivers' actual risk rather than broad categories. Over time, the company expanded beyond auto coverage into homeowners, renters, farm and ranch, life, health, disability, liability, and business insurance. State Farm also offers financial services, including banking through an alliance with U.S. Bank and investment products such as mutual funds and advisory services. The business now serves a broad customer base through a large agent network and manages insurance and financial service products across a wide range of policies and accounts.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Finance and Insurance | - | - | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 0501074080420260000 | Total Assessment | $130,390 |
| Land Assessment | $75,880 | Annual Taxes | $2,354 ($0.57/SF) |
| Improvements Assessment | $54,510 | Tax Year | 2025 |
Property Taxes
Parcel Number
0501074080420260000
Land Assessment
$75,880
Improvements Assessment
$54,510
Total Assessment
$130,390
Annual Taxes
$2,354 ($0.57/SF)
Tax Year
2025
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Multifamily plus 1 office space | 29 Nehalem St