Flex Office/Warehouse
For Sale
Contact for pricing
1051 SW Layton Ct, Prineville, OR 97754
Flex condominium suites offer office and warehouse space with 1427 or 1227 roll-ups and M-1 light industrial zoning.
Property Size3,023 SF
Lot Size1.69 Acres
Price / SF$215
Days on Market543
Property Features for 1051 SW Layton Ct
General Information
Standard status
Active
Size
3,023 SF
Lot size
1.69 Acres
Property subtype
INDUSTRIAL
Zoning
M-1
Additional Details
Highway Access
Yes
Heavy Power
Yes
Building Details
Tenancy
Multi
Listing Agency:
Fratzke Commercial Real Estate
(541) 306-4948
Listed By:
Brian Fratzke · License #200402169
(541) 480-2526
Source:
Moodyscre
Added: Mar 21, 2025
Changed: Sep 8
Last Checked: Sep 13 at 9:36AM
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 Fratzke Commercial Real Estate
Investment Insights
Based on property information with market context.
These flex office/warehouse condominiums are designed for combined workspace and storage, with office and warehouse configurations served by 1427 roll-ups or 1227 roll-ups into the warehouse. The property includes three buildings (A, B & C) totaling 26,863+/- SF, with multiple condominium suites available.
The units are located within Tom McCall Business Park with easy access to main highway, the airport, and major east/west transportation routes. The buildings are offered in a light industrial setting under M-1 zoning.
Service is supported by three (3) phase 100/200 amp electrical service. Condominium suites range from 2,543+/- SF to 4,173+/- SF, with modern architecture supporting the office-and-warehouse mix.
The units are located within Tom McCall Business Park with easy access to main highway, the airport, and major east/west transportation routes. The buildings are offered in a light industrial setting under M-1 zoning.
Service is supported by three (3) phase 100/200 amp electrical service. Condominium suites range from 2,543+/- SF to 4,173+/- SF, with modern architecture supporting the office-and-warehouse mix.
Key Highlights
- Flex condominium suites available from 2,543+/- SF to 4,173+/- SF, with modern office & warehouse combo space
- Flexible office/warehouse setup with 14' roll‑ups or 12' roll‑ups into the warehouse
- Three buildings (A, B & C) totaling 26,863+/- SF on 1.69 acres (73,616+/- SF)
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
$43,412
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
6.68%
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%
$868,240
$868.2K
Cap Rate 7%
$620,171
$620.2K
Cap Rate 9%
$482,356
$482.4K
Market Conditions
NOI Build-Up for 3,023 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
$61.7K $20.40/SF
− Vacancy
−$3.8K −$1.25/SF
EGI
$57.9K $19.15/SF
− OpEx
−$14.5K −$4.79/SF
NOI
$43.4K $14.36/SF
Area
Crook County, OR
Vacancy
6.14%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$868,240
Cap Rate 7%
$620,171
Cap Rate 9%
$482,356
Alternative Uses
Best Use
Office B
$620.2K
$542.7K – $723.5K
NOI $43,412 @ 7.0% cap · market cap 6.68%
Second Best
Flex RnD
$588.1K
$514.6K – $686.2K
NOI $41,170 @ 7.0% cap · market cap 6.33%
Theoretical Best
Specialty Retail
$1.31M
$1.14M – $1.52M
NOI $91,416 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97754, OR
21,627
Population
9,985
Households
2.2
Avg Household Size
46
Median Age
21%
College-Educated
90%
High-School Grad
1,370.6 sq mi
ZIP Area
16
Density / Sq Mi
$76,698
Median Household Income
$42,395
Median Earnings
$1,224
Median Rent
$397,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex condominium suites offer office and warehouse space with 1427 or 1227 roll-ups and M-1 light industrial zoning.
Where is this flex space located?
The property is located at 1051 SW Layton Ct Prineville, OR.
What is the asking price?
The asking price for this property is $649,945.
What are key features of this property?
This property features: Flex condominium suites available from 2,543+/- SF to 4,173+/- SF, with modern office & warehouse combo space; Flexible office/warehouse setup with 14' roll‑ups or 12' roll‑ups into the warehouse; Three buildings (A, B & C) totaling 26,863+/- SF on 1.69 acres (73,616+/- SF)
