Metal Warehouse with Separate
For Sale
Contact for pricing
Pending
2207 NE Industry Drive, Grants Pass, OR 97526
Clear-span warehouse operations are paired with a detached office building that can be reconfigured for changing needs.
Property Size1,814 SF
Lot Size2.74 Acres
Days on Market472
Property Features for 2207 NE Industry Drive
General Information
Standard status
Pending
Size
1,814 SF
Lot size
2.74 Acres
Property subtype
Special Purpose
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Span
Yes
Warehouse Space
30,054 SF
Office Build-Out
1,814 SF
Additional Details
Opportunity Zone
Yes
Office Units
1
Amenities
break rooms
ADA restroom
storage lofts
kitchen/breakroom
Building Details
Buildings
2
Stories
2
Building Size
1,814 SF
Construction
wood frame
Listing Agency:
CENTURY 21 Harris & Taylor
Listed By:
Gary Luckin · License #OR
Source:
Crexi
Added: May 16, 2025
Changed: Aug 29
Last Checked: Aug 29 at 2:57PM
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 CENTURY 21 Harris & Taylor
Investment Insights
Based on property information with market context.
The property combines a 30,054 SF metal warehouse with a detached 1,814 SF custom office on 2.74 acres. Warehouse improvements include clear-span trusses, a 35' center height with 26' walls, six roll-up doors measuring 18' wide by 14' high, separate parts and equipment rooms, break areas, an ADA restroom, and storage lofts. The office includes a lobby, kitchen/breakroom, operations center, four enclosed offices, two upper-level rooms, document storage, and restrooms with shower and bath facilities. The office is wood-frame construction and may be reconfigured.
The site is within Spalding Commerce Park and a Federal Opportunity Zone, approximately 5 minutes from the GP I-5 S interchange. Exterior improvements include landscaping, a stormwater runoff filtration system with settling pond, and parking serving employees, customers, and tractor trailers. The business is offered separately from the real estate.
The site is within Spalding Commerce Park and a Federal Opportunity Zone, approximately 5 minutes from the GP I-5 S interchange. Exterior improvements include landscaping, a stormwater runoff filtration system with settling pond, and parking serving employees, customers, and tractor trailers. The business is offered separately from the real estate.
Key Highlights
- 30,054 SF metal warehouse with clear‑span trusses
- Detached 1,814 SF custom office with reconfigurable layout
- 2.74‑acre site in a Federal Opportunity Zone
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
$197,096
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
7.92%
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%
$3,941,920
$3.9M
Cap Rate 7%
$2,815,657
$2.8M
Cap Rate 9%
$2,189,956
$2.2M
Market Conditions
NOI Build-Up for 31,868 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
$302.1K $9.48/SF
− Vacancy
−$20.5K −$0.64/SF
EGI
$281.6K $8.84/SF
− OpEx
−$84.5K −$2.65/SF
NOI
$197.1K $6.18/SF
Area
Josephine County, OR
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
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%
$3,941,920
Cap Rate 7%
$2,815,657
Cap Rate 9%
$2,189,956
Alternative Uses
Best Use
Office B
$5.19M
$4.54M – $6.06M
NOI $363,391 @ 7.0% cap · market cap 14.59%
Second Best
Flex RnD
$3.76M
$3.29M – $4.38M
NOI $262,987 @ 7.0% cap · market cap 10.56%
Theoretical Best
Office A
$7.23M
$6.32M – $8.43M
NOI $505,799 @ 7.0% cap · market cap 20.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97526, OR
36,561
Population
15,987
Households
2.3
Avg Household Size
47
Median Age
20%
College-Educated
91%
High-School Grad
140.7 sq mi
ZIP Area
260
Density / Sq Mi
$57,103
Median Household Income
$35,685
Median Earnings
$1,076
Median Rent
$379,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Clear-span warehouse operations are paired with a detached office building that can be reconfigured for changing needs.
Where is this warehouse located?
The property is located at 2207 NE Industry Drive Grants Pass, OR.
What is the asking price?
The asking price for this property is $2,490,000.
What are key features of this property?
This property features: 30,054 SF metal warehouse with clear‑span trusses; Detached 1,814 SF custom office with reconfigurable layout; 2.74‑acre site in a Federal Opportunity Zone
