Two-Building Self Storage
For Sale
$325,000
1 St St, Athena, OR 97813
Self-storage property comprising two separate buildings in Athena, Oregon.
Property Size2,800 SF
Price / SF$116.07
Days on Market11
Property Features for 1 St St
General Information
Standard status
Active
Size
2,800 SF
Additional Details
Self-Storage Units
38
Building Details
Year Built
2005
Buildings
2
Listing Agency:
Coldwell Banker Farley Company
(541) 276-0021
Listed By:
Jerry Baker · License #201211883
Source:
Christiesrealestateevg
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 29 at 5:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Farley Company
Investment Insights
Based on property information with market context.
This self-storage facility includes 38 units distributed across two buildings, providing a clearly defined storage configuration within an approximately 2,800-square-foot property. Constructed in 2005, the asset is located in Athena, Oregon, at 1 St St.
Key Highlights
- 38 storage units across two buildings
- Approximately 2,800 square feet
- Built in 2005
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
$23,623
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
7.27%
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%
$472,460
$472.5K
Cap Rate 7%
$337,471
$337.5K
Cap Rate 9%
$262,478
$262.5K
Market Conditions
NOI Build-Up for 2,800 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
$36.3K $12.96/SF
− Vacancy
−$2.5K −$0.91/SF
EGI
$33.7K $12.05/SF
− OpEx
−$10.1K −$3.62/SF
NOI
$23.6K $8.44/SF
Area
Umatilla County, OR
Vacancy
7.00%
Lease Rate
$12.96 /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%
$472,460
Cap Rate 7%
$337,471
Cap Rate 9%
$262,478
Alternative Uses
Best Use
Self Storage
$337.5K
$295.3K – $393.7K
NOI $23,623 @ 7.0% cap · market cap 7.27%
Second Best
Warehouse
$286.4K
$250.6K – $334.2K
NOI $20,049 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$586.1K
$512.9K – $683.8K
NOI $41,030 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Explore this area
Business Placement
Demographics for 97813, OR
1,386
Population
614
Households
2.3
Avg Household Size
44
Median Age
32%
College-Educated
93%
High-School Grad
53.8 sq mi
ZIP Area
26
Density / Sq Mi
$73,688
Median Household Income
$38,438
Median Earnings
$868
Median Rent
$217,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage property comprising two separate buildings in Athena, Oregon.
Where is this self storage facility located?
The property is located at 1 St St Athena, OR.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 38 storage units across two buildings; Approximately 2,800 square feet; Built in 2005
