995 Marine Dr 4,577 SF Retail Building Astoria, OR 97103 $1,100,000 ($240.33/SF) 6.18% Cap Rate

This is a rare leased investment in Astoria's premier waterfront commercial corridor. This 1922 masonry-constructed building has operated continuously as a bar and tavern for over 100 years — surviving every economic cycle, every shift in the hospitality landscape, and every change in Astoria's character. It is still running.
Merry Time Bar & Grill has occupied this location since 1985 — over 40 years of uninterrupted operation — building a loyal following and a reputation that has become part of Astoria's identity. The property is leased under a 10-year modified gross lease with 3.5% fixed annual escalations and options to extend, delivering $68,000 in Year 1 NOI with built-in income growth and minimal landlord obligation.
The Owners Are Retiring — Business Also Available for Purchase
The sale price applies to the real property ONLY. Merry Time Bar & Grill is separately available for acquisition — including the business name, goodwill, equipment, inventory, liquor license, and customer base built over 40+ years of continuous operation. You may purchase the property, the business, or both. Contact the listing broker for business financials and pricing.