Building Details

Year Built 2019

Listing Agency: Tradition Real Estate Partners d***@traditionrep.com Show Phone

Listed By: AJ Nash · License #OR 201208908

Source: Crexi

Added: Feb 23 Changed: Aug 11 Last Checked: Aug 9 at 1:57PM

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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 Tradition Real Estate Partners

Investment Insights

Based on property information with market context.

This modern 4,704 square foot building, constructed in 2019, is designed with future expansion in mind. The shop area spans 2,016 square feet and features three 16-foot shop doors and approximately 18 feet of internal clear height. The shop includes a concrete floor and a half bath that is fixture-ready, and is 48 feet deep. The office space comprises 1,344 square feet, with two dedicated offices, a large conference room, a break room, an office bathroom, and a large lobby suitable for reception or additional workspace. The office features quality finishes and sealed concrete floors, and is HVAC ready. The area above the office mirrors the lower office layout and is ready to be completed for additional office space or storage. Zoned light industrial, the property is suitable for industrial and flex space purposes, offering versatility for various businesses. Located near Lyons, Oregon, the property is set amidst rolling hills, greenery, and the nearby Santiam River, providing a peaceful environment. The location offers tranquility while maintaining convenient access to major highways for easy travel to larger cities.

Key Highlights

• Modern 4,704 sq ft building constructed in 2019
• 2,016 sq ft shop area with three 16ft doors and 18ft clear height
• 1,344 sq ft office space with dedicated offices, conference room, and break room

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

$29,503

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

5.96%

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%

$590,060 $590.1K

Cap Rate 7%

$421,471 $421.5K

Cap Rate 9%

$327,811 $327.8K

Market Conditions

NOI Build-Up for 4,704 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

$48.0K $10.20/SF

− Vacancy

−$2.6K −$0.55/SF

EGI

$45.4K $9.65/SF

− OpEx

−$15.9K −$3.38/SF

NOI

$29.5K $6.27/SF

Area

Linn County, OR

Vacancy

5.40%

Lease Rate

$10.20 /SF/Yr

Expense Ratio

35.00%

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%

$590,060

Cap Rate 7%

$421,471

Cap Rate 9%

$327,811

Alternative Uses

Best Use

Office B

$1.23M

$1.07M – $1.43M (±1% cap)

NOI $85,925 @ 7.0% cap · market cap 17.36%

Second Best

Warehouse

$823.5K

$720.5K – $960.7K (±1% cap)

NOI $57,643 @ 7.0% cap · market cap 11.65%

Theoretical Best

Office A

$1.37M

$1.20M – $1.60M (±1% cap)

NOI $95,925 @ 7.0% cap · market cap 19.38%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Location Intelligence

Trade Area within ½ mile

16

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 97358, OR

2,680

Population

1,100

Households

2.4

Avg Household Size

51

Median Age

28%

College-Educated

94%

High-School Grad

88.4 sq mi

ZIP Area

30

Density / Sq Mi

$106,625

Median Household Income

$47,772

Median Earnings

$979

Median Rent

$451,700

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

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What type of property is this? Where is this flex space 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?

Flex space - 4,704 SF flex space built in 2019.

Where is this flex space located?

The property is located at 2120 Apple Loop Lyons, OR.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: Modern 4,704 sq ft building constructed in 2019; 2,016 sq ft shop area with **three 16ft doors and 18ft clear height**; 1,344 sq ft office space with dedicated offices, conference room, and break room