204 Locust StOakland, OR 97462

Property Details for 204 Locust St

Lot size

0.16 AC

Property size (Sq ft)

6,000 SF

Property type

Retail properties

Property subtype

Retail space

APN

25-05W-04CA-03700

APU

2505W04CA03700

Description

This exceptional turnkey business opportunity presents the chance to acquire Stearns Hardware, a well-established retail store in historic Oakland, Oregon. Located on the main commercial street (204 Locust St), this 11,110 square foot, two-story building sits on a 0.16-acre lot (APN R32651) and is zoned C1. Built in 1892, the property boasts a rich history, having served the community since 1887. The sale includes the business name, all shelving, counters, equipment, a cash register, and an antique safe (a complete list is available upon request). The main floor features display windows, a private office with antique furnishings, a break area with kitchenette appliances, and a half bathroom. A rear freight door and an antique elevator provide convenient access to the spacious second-floor storage area, including a separate enclosed storage room. The property offers significant potential for expansion, with additional display space available in the front of the store. The seller will provide limited assistance with the business transition. This is a rare opportunity to own a piece of Oakland's history and a thriving, established business in a prime commercial location. The asking price is $550,000 ($49.50/sq ft). This is a single-unit, owner-user investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,737,082

  6.5%

  $1,603,460

  7%

  $1,488,927

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,874,198

  Geo Method

  $3,874,198

• Alternative Use

  Use

  Valuation

  Residential

  $1,352,579

  Hospitality

  $1,238,955

  Educational

  $1,030,796

  Medical

  $1,066,246

  Retail

  $1,603,460

Location Insight

City

Oakland

County

Douglas

State

Oregon

Latitude

43.422

Longitude

-123.298

CBSA code

40700

CBSA name

ROSEBURG, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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