Highway-Frontage Manufacturing
For Sale
$600,000
2324 Main St, Sweet Home, OR 97386
Two separately metered buildings support multiple occupants and varied industrial operations.
Property Size4,510 SF
Lot Size0.62 Acres
Price / SF$133.04
Days on Market297
Property Features for 2324 Main St
General Information
Standard status
Active
Size
4,510 SF
Lot size
0.62 Acres
Property subtype
Commercial
Zoning
C2
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,233
Building Details
Year Built
1995
Buildings
2
Listing Agency:
Keller Williams Realty Mid Willamette
(541) 409-2106
Listed By:
Sherri Gregory · License #970300073
(541) 409-2106
Source:
Metanars
Added: Oct 17, 2025
Changed: Aug 4
Last Checked: Aug 8 at 11:37AM
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 Keller Williams Realty Mid Willamette
Investment Insights
Based on property information with market context.
This manufacturing property comprises four lots and two buildings with a combined 4,510 square feet on 0.62 acre. Built in 1995, the improvements include concrete floors and office space in each building, with separate electric metering that supports distinct occupancy arrangements. The 2324 Main building has a newer roof, four bays with 14-foot eaves, and a service pit. The 2320 building includes gas heat and air conditioning.
Located at 2324 Main St in Sweet Home, the property occupies a corner position with Highway 20 frontage. C2 zoning supports its commercial setting, while the two-building layout accommodates different business operations. A completed clean Phase 1 environmental assessment is also in place.
Located at 2324 Main St in Sweet Home, the property occupies a corner position with Highway 20 frontage. C2 zoning supports its commercial setting, while the two-building layout accommodates different business operations. A completed clean Phase 1 environmental assessment is also in place.
Key Highlights
- Two buildings totaling 4,510 building sq. ft. on 0.62 acre
- Four lots with Highway 20 frontage on a corner property
- C2 zoning and separate metering for each building
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
$45,513
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
7.59%
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%
$910,260
$910.3K
Cap Rate 7%
$650,186
$650.2K
Cap Rate 9%
$505,700
$505.7K
Market Conditions
NOI Build-Up for 4,510 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
$67.7K $15.00/SF
− Vacancy
−$2.6K −$0.58/SF
EGI
$65.0K $14.42/SF
− OpEx
−$19.5K −$4.32/SF
NOI
$45.5K $10.09/SF
Area
Linn County, OR
Vacancy
3.89%
Lease Rate
$15.00 /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%
$910,260
Cap Rate 7%
$650,186
Cap Rate 9%
$505,700
Alternative Uses
Best Use
Industrial
$650.2K
$568.9K – $758.6K
NOI $45,513 @ 7.0% cap · market cap 7.59%
Second Best
Flex RnD
$404.1K
$353.6K – $471.5K
NOI $28,287 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,969 @ 7.0% cap · market cap 15.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 97386, OR
14,611
Population
6,339
Households
2.3
Avg Household Size
44
Median Age
11%
College-Educated
87%
High-School Grad
125.9 sq mi
ZIP Area
116
Density / Sq Mi
$68,116
Median Household Income
$37,125
Median Earnings
$1,141
Median Rent
$302,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Two separately metered buildings support multiple occupants and varied industrial operations.
Where is this manufacturing property located?
The property is located at 2324 Main St Sweet Home, OR.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two buildings totaling 4,510 building sq. ft. on 0.62 acre; Four lots with Highway 20 frontage on a corner property; C2 zoning and separate metering for each building
