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    Agricultural Property with Covered Space Title is generated by Realmo AI

    17485 NW COREY, North Plains, OR 97133

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    For Lease
    $8,000/Mo $3 SF/Yr (calc)

    Unique agricultural property with two large barns for lease.

    Type:Commercial
    Property size:
    27,000 SF
    Lot size:
    5.00 Acres
    Added:
    Jan 22, 2026
    Days on Market:
    119
    Last Refresh:
    Apr 5 at 11:20 pm

    Property Features for 17485 NW COREY

    General Information

    Standard status
    Active
    Size
    27,000 SF
    Lot size
    5.00 Acres
    Property subtype
    Commercial

    We can help!

    Listing Contact
    JESSE DILL

    Listing agent JESSE DILL

    Listing office PREMIERE PROPERTY GROUP, LLC

    Listing date Jan 22, 2026

    Source Corcoran

    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 PREMIERE PROPERTY GROUP, LLC

    HighLights

    • Over 27,000 SF of covered space in two large barns.
    • Located in Washington County EFU (Exclusive Farm Use zoning).
    • Suitable for a range of farm and farm support uses.
    • Additional open ground available.
    • Private gated entrance for easy access and security.
    • Shared well water available.

    Overview

    This agricultural property in Washington County EFU presents an opportunity for an agricultural operation or farm support use. The property includes two large barns totaling over 27,000 square feet of covered space, with additional open ground available to the east of the barn areas. Barn 1 measures approximately 110 x 185 feet, and Barn 2 measures approximately 38 x 185 feet. A small unfinished building at the front of the property could be remodeled into an onsite office. The property features a private gated entrance for easy access and added security. Originally used as a dairy, the setup is suited for various farm and farm support uses, such as livestock and grazing, hay and feed storage, equipment and implement storage, market garden or nursery operations, greenhouse or propagation space, wash and pack area, or seasonal farm staging. Shared well water is available. Potential water rights may be negotiable, subject to verification and lease terms. Build-to-suit options may be considered. The property is not served by onsite septic or sewer; a portable restroom would be at the tenant's expense if required. All uses must comply with Washington County EFU guidelines.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    North Plains
    County
    Washington
    State
    Oregon
    Longitude
    -123.0353774
    Latitude
    45.6464726

    FAQs

    What type of property is this?
    Agricultural property - Unique agricultural property with two large barns for lease.
    Where is this agricultural property located?
    The property is located at 17485 NW COREY North Plains, OR.
    What is the lease rate?
    The lease rate is $8,000 /Mo.
    What are key features of this property?
    This property features: Over 27,000 SF of covered space in two large barns.; Located in Washington County EFU (Exclusive Farm Use zoning).; Suitable for a range of farm and farm support uses.
    (503) 670-9000
    We can help!
    Listing Contact
    JESSE DILL
    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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    17485 NW COREY, NorthPlains, OR 97133
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