77 11Th StAstoria, OR 97103

This exceptional mixed-use investment opportunity encompasses two historic buildings totaling 15,532 square feet on Astoria's waterfront. The main building, Pier 11, houses two restaurants, a wine bar, and retail space, currently operating at 100% occupancy. A short-term rental unit is also under development. The second building, the Wheelhouse, offers stunning 360-degree views of the Megler Bridge, Astoria Column, and the Columbia River. This unique structure, situated on pilings above the pier, includes a large warehouse and retail space, suitable for short-term or long-term rental. Both buildings are being sold together, presenting a compelling value-add opportunity with a 6.00% cap rate and an asking price of $2,900,000 ($186.71/sq ft). Built in 1920 with renovations ongoing since 1914, the property sits on an A2 zoned lot and includes 11 parking spaces. Financial statements are available upon request with proof of funds or pre-approval, along with detailed property photos and tenant lease information. Showings are by appointment only, after business hours and when the short-term rental is vacant. This is a rare chance to acquire a piece of Astoria's rich history and capitalize on its thriving tourism and hospitality sectors.