Flex Space with Secured
For Sale
$1,600,000
2711 S Main St, Lebanon, OR 97355
Commercial, Lebanon, OR
Property Size8,866 SF
Lot Size0.92 Acres
Price / SF$180.46
Days on Market57
Property Features for 2711 S Main St
General Information
Property type
Commercial Sale
Property subtype
Other
View
Territorial
Standard status
Active
Size
8,866 SF
Lot size
0.92 Acres
Taxes and HOA fees
Tax Annual Amount
3586
Amenities
secured fenced yard
Building Details
Year built
1940
Roof type
Composition
Listing Agency:
KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
(541) 738-7770
Listed By:
LAURA GILLOTT · License #920300248
(541) 990-7785
Added: Jul 1
Changed: Aug 19
Last Checked: Aug 26 at 5:06AM
MLS# 842904
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8,866-square-foot flex property combines retail and office areas with a substantial shop and warehouse component. The building includes 14-foot ceilings, multiple cranes, three-phase power, and a secured fenced yard with sections of newer asphalt paving. Pull-through truck access supports movement through the site, while LED lighting and a composition roof replaced in 2017 contribute to the existing improvements.
Built in 1940, the property occupies 0.92 acres at 2711 S Main St in Lebanon, Oregon. Its configuration brings customer-facing, administrative, and larger-format work areas together within one commercial facility, with enclosed yard space extending the usable footprint.
Built in 1940, the property occupies 0.92 acres at 2711 S Main St in Lebanon, Oregon. Its configuration brings customer-facing, administrative, and larger-format work areas together within one commercial facility, with enclosed yard space extending the usable footprint.
Key Highlights
- 8,866 SF flex property with retail, office, shop, and warehouse areas
- 0.92‑acre site with a secured fenced yard and some new blacktop paving
- 14' ceilings and multiple cranes
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$136,229
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,724,580
$2.7M
Cap Rate 7%
$1,946,129
$1.9M
Cap Rate 9%
$1,513,656
$1.5M
Market Conditions
NOI Build-Up for 8,866 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$286.2K $32.28/SF
− Vacancy
−$91.6K −$10.33/SF
EGI
$194.6K $21.95/SF
− OpEx
−$58.4K −$6.59/SF
NOI
$136.2K $15.37/SF
Area
Linn County, OR
Vacancy
32.00%
Lease Rate
$32.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,724,580
Cap Rate 7%
$1,946,129
Cap Rate 9%
$1,513,656
Alternative Uses
Best Use
Office B
$2.31M
$2.02M – $2.70M
NOI $161,950 @ 7.0% cap · market cap 10.12%
Second Best
Retail
$1.95M
$1.70M – $2.27M
NOI $136,229 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,798 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97355, OR
32,413
Population
13,623
Households
2.4
Avg Household Size
41
Median Age
18%
College-Educated
91%
High-School Grad
214.3 sq mi
ZIP Area
151
Density / Sq Mi
$64,307
Median Household Income
$39,934
Median Earnings
$1,267
Median Rent
$332,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Combined commercial space with a fenced yard, truck circulation, elevated ceilings, cranes, and three-phase power.
Where is this flex space located?
The property is located at 2711 S Main St Lebanon, OR.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 8,866 SF flex property with retail, office, shop, and warehouse areas; 0.92‑acre site with a secured fenced yard and some new blacktop paving; 14' ceilings and multiple cranes
