Building Details

Year built 1975

Floors in Building 1

Building materials LapSiding, WoodFrame

Roof type Composition

Listing Agency: RE/MAX Equity Group · RE/MAX International r***@equitygroup.com Show Phone

Listed By: Jason Kennedy · License #200501139 Show Phone

Added: Sep 9, 2024 Changed: Oct 2 Last Checked: Oct 10 at 3:06PM

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MLS# 24540457

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Investment Insights

Based on property information with market context.

Set on 1.89 acres, this 6,479-square-foot office building contains 13 individual rooms and 2 kitchens within a configurable interior plan. The arrangement can accommodate private offices, shared work areas, or meeting rooms, with options for reconfiguration or expansion. CG zoning supports office use and other Commercial General applications.

The property is located in Woodburn, Oregon, with access to both Portland and Salem for regional operations. It is also within an Opportunity Zone. Constructed in 1975, the building has wood-frame construction with lap siding, a composition roof, forced-air heating, and central air conditioning.

Key Highlights

• 6,479‑square‑foot building on 1.89 acres
• 13 individual rooms and 2 kitchens
• CG zoning supports office and Commercial General applications

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$79,181

Cap Rate

7.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,583,620 $1.6M

Cap Rate 7%

$1,131,157 $1.1M

Cap Rate 9%

$879,789 $879.8K

Market Conditions

NOI Build-Up for 6,479 SF

Gross rent

$143.8K $22.20/SF

− Vacancy

−$38.3K −$5.91/SF

EGI

$105.6K $16.29/SF

− OpEx

−$26.4K −$4.07/SF

NOI

$79.2K $12.22/SF

Area

Marion County, OR

Vacancy

26.60%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,583,620

Cap Rate 7%

$1,131,157

Cap Rate 9%

$879,789

Alternative Uses

Best Use

Office B

$1.13M

$989.8K – $1.32M (±1% cap)

NOI $79,181 @ 7.0% cap · market cap 7.37%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.52M

$1.33M – $1.78M (±1% cap)

NOI $106,662 @ 7.0% cap · market cap 9.92%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Electrical Service Gym & Fitness Center Parking Lot & Garage Skin Care Clinic HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

352

Businesses Nearby

Explore this area Business Placement

Demographics for 97071, OR

30,777

Population

10,595

Households

2.9

Avg Household Size

35

Median Age

17%

College-Educated

72%

High-School Grad

51.7 sq mi

ZIP Area

595

Density / Sq Mi

$70,130

Median Household Income

$35,927

Median Earnings

$1,382

Median Rent

$316,500

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - CG-zoned office property with multiple rooms, two kitchens, and an adaptable interior configuration.

Where is this office building located?

The property is located at 1480 NE LAUREL Ave Woodburn, OR.

What is the asking price?

The asking price for this property is $1,075,000.

What are key features of this property?

This property features: 6,479‑square‑foot building on 1.89 acres; 13 individual rooms and 2 kitchens; CG zoning supports office and Commercial General applications