Fenced Farm with Multiple
For Sale
$1,799,000
3100 Lone Oak Rd, McMinnville, OR 97128
Light-industrial acreage combines homes, agricultural improvements, recreation features, and gated access along Hwy99.
Property Size7,728 SF
Days on Market1297
Property Features for 3100 Lone Oak Rd
General Information
Standard status
Active
Size
7,728 SF
Property subtype
Commercial
Zoning
LI
Taxes and HOA fees
Annual Taxes
$3,327
Building Details
Building Size
7,728 SF
Year Built
2007
Buildings
5
Stories
1
Listing Agency:
The Kelly Group Real Estate
(503) 330-2089
Listed By:
Kelly Hagglund · License #201219819
(503) 330-2089
Source:
Metanars
Added: Jan 25, 2023
Changed: Aug 13
Last Checked: Aug 13 at 6:59AM
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 The Kelly Group Real Estate
Investment Insights
Based on property information with market context.
This 4.2-acre farm property is gated, fenced, and zoned LI for light industrial use. Improvements include two large barns or outbuildings, an office, silo, livestock sheds, paddocks, and cross-fenced pastures. The site also features a pond with a recreation shed, a lighted sand volleyball court, and a substantial gravel area for parking or storage.
Two residences are included. The 2007 manufactured home contains 3 bedrooms, 2 baths, 1512 square feet, and a pool. The 1999 home provides 2 bedrooms, 2.5 baths, and 1056 square feet. The property borders Hwy99 at 3100 Lone Oak Rd in McMinnville, OR 97128.
Two residences are included. The 2007 manufactured home contains 3 bedrooms, 2 baths, 1512 square feet, and a pool. The 1999 home provides 2 bedrooms, 2.5 baths, and 1056 square feet. The property borders Hwy99 at 3100 Lone Oak Rd in McMinnville, OR 97128.
Key Highlights
- 4.2 acres bordering Hwy99 with LI light‑industrial zoning
- Gated and fenced property with cross‑fenced pastures, paddocks, and livestock sheds
- Two large barns or outbuildings, plus office and silo
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
$100,155
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
5.57%
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%
$2,003,100
$2.0M
Cap Rate 7%
$1,430,786
$1.4M
Cap Rate 9%
$1,112,833
$1.1M
Market Conditions
NOI Build-Up for 7,728 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
$166.9K $21.60/SF
− Vacancy
−$6.7K −$0.86/SF
EGI
$160.2K $20.74/SF
− OpEx
−$60.1K −$7.78/SF
NOI
$100.2K $12.96/SF
Area
Yamhill County, OR
Vacancy
4.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$2,003,100
Cap Rate 7%
$1,430,786
Cap Rate 9%
$1,112,833
Alternative Uses
Best Use
Mixed Use
$1.43M
$1.25M – $1.67M
NOI $100,155 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.43M
NOI $146,018 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 97128, OR
38,394
Population
15,291
Households
2.5
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
112.2 sq mi
ZIP Area
342
Density / Sq Mi
$72,055
Median Household Income
$37,427
Median Earnings
$1,295
Median Rent
$419,200
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?
Farm - Light-industrial acreage combines homes, agricultural improvements, recreation features, and gated access along Hwy99.
Where is this farm located?
The property is located at 3100 Lone Oak Rd McMinnville, OR.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 4.2 acres bordering Hwy99 with LI light‑industrial zoning; Gated and fenced property with cross‑fenced pastures, paddocks, and livestock sheds; Two large barns or outbuildings, plus office and silo
