Flex Space with Outdoor
For Sale
$3,900,000
2083 NE Colvin Ct, McMinnville, OR 97128
Industrial site combines warehouse, office, loading, and outdoor storage capacity.
Property Size24,600 SF
Lot Size4.58 Acres
Price / SF$158.54
Days on Market49
Property Features for 2083 NE Colvin Ct
General Information
Standard status
Active
Size
24,600 SF
Lot size
4.58 Acres
Property subtype
Industrial - Manufacturing
Warehouse & Industrial
Clear Height
34 ft
Clear Span
Yes
Office Build-Out
3,600 SF
Drive-In Doors
4
Additional Details
Outdoor Storage
Yes
Building Details
Building Size
24,600 SF
Year Built
1995
Buildings
2
Listing Agency:
Macadam Forbes
Listed By:
Tyler Dean · License ##200705002
(503) 972-7278
Source:
Commercialcafe
Added: Sep 1
Changed: Oct 16
Last Checked: Oct 19 at 4:08AM
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 Macadam Forbes
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Investment Insights
Based on property information with market context.
Built in 1995, the property includes a 24,600 SF warehouse and office component on a 4.58-acre industrial site. The warehouse offers 24'–34' clear height and four oversized grade-level doors, supporting substantial loading and storage functions. A separate two-story office building adds 3,600 SF of dedicated office space and ample parking.
The expansive site also provides surplus outdoor storage and additional loading capability. Located in McMinnville, Oregon, the property offers proximity to major transportation routes and is positioned within an established industrial area.
The expansive site also provides surplus outdoor storage and additional loading capability. Located in McMinnville, Oregon, the property offers proximity to major transportation routes and is positioned within an established industrial area.
Key Highlights
- 24,600 SF warehouse and office on a 4.58‑acre industrial site
- Warehouse clear height ranges from 24'–34'
- Four oversized grade‑level doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$318,440
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,368,800
$6.4M
Cap Rate 7%
$4,549,143
$4.5M
Cap Rate 9%
$3,538,222
$3.5M
Market Conditions
NOI Build-Up for 24,600 SF
Gross rent
$560.9K $22.80/SF
− Vacancy
−$136.3K −$5.54/SF
EGI
$424.6K $17.26/SF
− OpEx
−$106.1K −$4.31/SF
NOI
$318.4K $12.94/SF
Area
Yamhill County, OR
Vacancy
24.30%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,368,800
Cap Rate 7%
$4,549,143
Cap Rate 9%
$3,538,222
Alternative Uses
Best Use
Office B
$4.55M
$3.98M – $5.31M
NOI $318,440 @ 7.0% cap · market cap 8.17%
Second Best
Warehouse
$2.68M
$2.34M – $3.12M
NOI $187,487 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$6.64M
$5.81M – $7.75M
NOI $464,810 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
34 ft
Clear height
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Well-served
Demand for This Use
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
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
Frequently Asked Questions
What type of property is this?
Flex space - Industrial site combines warehouse, office, loading, and outdoor storage capacity.
Where is this flex space located?
The property is located at 2083 NE Colvin Ct McMinnville, OR.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 24,600 SF warehouse and office on a 4.58‑acre industrial site; Warehouse clear height ranges from 24'–34'; Four oversized grade‑level doors
