3447 Highway 101Gearhart, OR 97138

Property Details for 3447 Highway 101

Year built

1930

Lot size

0.51 AC

Property type

Retail space

APN

61010BA00300

APU

61010BA00300

Description

This exceptional commercial property, located at 3447 N Highway 101, Unit 3447 in Gearhart, Oregon, presents a unique investment opportunity. Boasting 2,558 square feet on a 1.05-acre lot, this building offers significant highway exposure in the desirable coastal town of Gearhart. The property features a welcoming lobby, a large open space with a fireplace and recessed lighting, and ample power and internet outlets throughout. Abundant natural light streams in through numerous windows. A separate office with its own entrance leads to a stunning wrap-around deck, perfect for relaxation or client meetings. The main floor also includes a convenient bathroom and kitchen, ideal for a break room or employee area. Upstairs, a second bathroom and four separate rooms provide versatile space for various uses. A spacious basement offers ample storage. The building is equipped with heating and air conditioning for year-round comfort. Exterior features include a private parking lot with over 20 spaces and a pleasant yard. This property is ready for immediate occupancy and offers endless possibilities for a variety of commercial ventures. The asking price is $894,000.

• CAP approach

  CAP return

  Valuation

  6%

  $7,427,582

  6.5%

  $6,856,230

  7%

  $6,366,499

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,057,260

  Geo Method

  $10,781,460

• Alternative Use

  Use

  Valuation

  Residential

  $5,783,486

  Hospitality

  $5,297,642

  Educational

  $4,407,576

  Medical

  $4,559,160

  Retail

  $6,856,230

Location Insight

City

Gearhart

County

Clatsop

State

Oregon

Latitude

46.0249

Longitude

-123.911

CBSA code

11820

CBSA name

ASTORIA, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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