271 N Hemlock St
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271 N Hemlock St
1,920 SF 100% Leased Retail Building Cannon Beach, OR 97110 £774,626 (£403/SF) 7.01% Net Initial Yield
Investment Highlights
- High Traffic and Visibility
- Served by bus service through Clatsop County’s Sunset Empires Transport District.
- Ideal location for food-related businesses or any other tourist related activities due to the high traffic in the area.
- 1,920 SF building on a 4,792SF lot, with access from both streets on W and E ends.
- Variety of businesses and residential areas, enhancing customer reach. A well known and busy tourist area.
- Parking is conveniently available through an easement on the adjacent lot, with additional street and public parking options nearby.
Executive Summary
This 1,920-square-foot building, situated on an approximately 5,000-square-foot lot, has dual access from both the East (N Spruce St) and West (N Hemlock St). Located just steps from the beach, it benefits from the heavy foot and vehicular traffic that Cannon Beach consistently draws.
The building’s roof was updated in 2022, and the siding at the rear of the building was refreshed in 2021. This highly visible shop is located in a commercial district surrounded by a blend of businesses and residential properties. The area is renowned for its popular eateries, which attract steady visitor traffic. Parking is conveniently available through an easement on the adjacent lot, with additional street and public parking options nearby.
With its prime location, stable leases, and high visibility, this property represents an excellent commercial real estate investment opportunity.
The building’s roof was updated in 2022, and the siding at the rear of the building was refreshed in 2021. This highly visible shop is located in a commercial district surrounded by a blend of businesses and residential properties. The area is renowned for its popular eateries, which attract steady visitor traffic. Parking is conveniently available through an easement on the adjacent lot, with additional street and public parking options nearby.
With its prime location, stable leases, and high visibility, this property represents an excellent commercial real estate investment opportunity.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
1,920 SF
Building Class
C
Year Built
1925
Price
£774,626
Price Per SF
£403
Net Initial Yield
7.01%
NOI
£54,291
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.40
Lot Size
0.11 AC
Zoning
C-1-General Commercial
Parking
8 Spaces (4.32 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 05219 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £355,631 |
PROPERTY TAXES
Parcel Number
05219
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£355,631
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271 N Hemlock St
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