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    Two-Building Warehouse Complex Title is generated by Realmo AI

    5175 Chicago St SE, Turner, OR 97392

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    For Lease
    $0.75 SF/Yr

    Two dry storage warehouse buildings with office and restroom space—flexible for distribution and light industrial needs.

    Type:Industrial
    Added:
    Jun 2, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 3 at 2:59 am

    Property Features for 5175 Chicago St SE

    General Information

    Standard status
    Active
    Property subtype
    Industrial

    Building Details

    Year Built
    1996

    Spaces For Lease

    at 5175 Chicago St SE Contact us

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    Listing Contact
    Nick Williams, CCIM
    Nick Williams, CCIM

    Listing agent Nick Williams, CCIM License #201230204

    Listing office SVN Commercial Advisors | Salem

    Listing date Jun 2, 2026

    Source Corfac

    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 SVN Commercial Advisors | Salem

    HighLights

    • Two dry storage warehouse buildings
    • Includes office and restroom space
    • Two dry storage/warehouse buildings with flexible space for distribution and light industrial uses
    • Year built: 1996

    Overview

    This two-building warehouse complex is set up for practical day-to-day operations, with each building including dry storage warehouse space along with dedicated office and restroom facilities. The combination of storage capacity and on-site support space can help streamline receiving, staging, and routine administrative needs without requiring tenants to rely on off-site space.

    The property is located at 5175 Chicago St SE in Turner, Oregon (97392). As a warehouse offering with multiple buildings on the same site, it can appeal to businesses looking for operational flexibility, whether they prefer to consolidate functions in one area or split workflows across separate structures.

    For tenants seeking straightforward industrial storage with office and restroom access, the layout supports a range of use cases that benefit from dry storage and on-site administrative space. Brokers and operators may also consider the asset for organizations that want the option to occupy one building while using the other as additional storage or operational support, depending on their needs at the time of leasing.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store Accounting Firm Kitchen & Bath Showroom Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Celtic Storage Turner RV — 5210 Fir St, Turner, OR 97392

    Location Insight

    • Map
    • Local Demand
    City
    Turner
    County
    Marion
    State
    Oregon
    Longitude
    -122.951626
    Latitude
    44.842259

    FAQs

    What type of property is this?
    Warehouse - Two dry storage warehouse buildings with office and restroom space—flexible for distribution and light industrial needs.
    Where is this warehouse located?
    The property is located at 5175 Chicago St SE Turner, OR.
    What is the lease rate?
    The lease rate is $0.75 SF/Yr.
    What are key features of this property?
    This property features: Two dry storage warehouse buildings; Includes office and restroom space; Two dry storage/warehouse buildings with flexible space for distribution and light industrial uses
    (503) 569-4449
    We can help!
    Listing Contact
    Nick Williams, CCIM
    Nick Williams, CCIM
    Real Estate License ID: 201230204
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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