Brick Warehouse with Overhead
For Sale
$265,000
155 THORN Ave, Milton-Freewater, OR 97862
LAND - MiltonFreewater, OR
Property Size3,076 SF
Lot Size0.66 Acres
Price / SF$86.15
Days on Market49
Property Features for 155 THORN Ave
General Information
Property type
Land
Property subtype
Single Family Residence
Zoning
R3
Elementary school
Gib Olinger
Middle school
Central
High school
McLoughlin
Directions
Mill St.
Subdivision
_439
Standard status
Active
APN
157544
Lot size
0.66 Acres
Taxes and HOA fees
Tax Description
5N3512DA TL 303
Tax Annual Amount
1024
Legal Description
5N3512DA TL 303
Listing Agency:
Roff Real Estate Inc.
(541) 938-6655
Listed By:
Vickie Roff · License #960200046
(509) 520-8715
Added: Jun 15
Changed: Jun 19
Last Checked: Aug 2 at 3:06PM
MLS# 332438228
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
A solid brick warehouse built in 1915 offers 3,076 square feet of enclosed space plus a storage loft and concrete floor. The property includes two 14' overhead doors designed for straightforward equipment or vehicle access, and a 30x36 carport that can support covered RV or equipment storage. The improvements and industrial-era construction provide a durable base for workshop, storage, or adaptive reuse plans.
The property is located at 155 Thorn Ave in Milton-Freewater, Oregon, on a 0.66-acre lot. Zoning is listed as R3, and the site size provides room to work within an existing building footprint while also keeping options open for future development of the land.
For tenants, buyers, or operators looking for a warehouse-style structure with drive-in access and additional covered storage, this configuration can support a range of light industrial or practical storage needs. The combination of enclosed brick space, a loft, and covered exterior storage may be especially useful for businesses that need both protected work areas and space to stage equipment.
The property is located at 155 Thorn Ave in Milton-Freewater, Oregon, on a 0.66-acre lot. Zoning is listed as R3, and the site size provides room to work within an existing building footprint while also keeping options open for future development of the land.
For tenants, buyers, or operators looking for a warehouse-style structure with drive-in access and additional covered storage, this configuration can support a range of light industrial or practical storage needs. The combination of enclosed brick space, a loft, and covered exterior storage may be especially useful for businesses that need both protected work areas and space to stage equipment.
Key Highlights
- 3,076 SF solid brick building constructed in 1915
- Sits on a 0.66‑acre lot
- Concrete floor and storage loft
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.7k | $9.00 |
| − Vacancy | −$1.8k | −$0.58 |
| EGI | $25.9k | $8.42 |
| − OpEx | −$3.9k | −$1.26 |
| NOI | $22.0k | $7.16 |
3,076 SF · lease $9.00/SF/yr · vacancy 6.40% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$314.6K
$275.3K – $367.1K
NOI $22,025 @ 7.0% cap · market cap 8.31%
Second Best
Industrial
$259.1K
$226.7K – $302.3K
NOI $18,139 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$643.9K
$563.4K – $751.2K
NOI $45,074 @ 7.0% cap · market cap 17.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97862, OR
11,512
Population
5,245
Households
2.2
Avg Household Size
39
Median Age
13%
College-Educated
79%
High-School Grad
292.9 sq mi
ZIP Area
39
Density / Sq Mi
$54,013
Median Household Income
$32,787
Median Earnings
$858
Median Rent
$225,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Superior RV Storage — 5 SE 15th Ave, Milton-Freewater, OR 97862
- U-Store-It Mini Storage — 684 College St, Milton-Freewater, OR 97862
- Welchs Storage — 53643 Walla Walla River Rd, Milton-Freewater, OR 97862
Frequently Asked Questions
What type of property is this?
Warehouse - Brick warehouse on a 0.66-acre lot with concrete flooring, a loft, and two overhead doors for vehicle or equipment access.
Where is this warehouse located?
The property is located at 155 THORN Ave Milton-Freewater, OR.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 3,076 SF solid brick building constructed in 1915; Sits on a 0.66‑acre lot; Concrete floor and storage loft
