Industrial Flex Building with Roll-Up
For Sale
$299,000
2693 Pleasant Valley Road, Merlin, OR 97532
COMMERCIAL - Merlin, OR
Property Size2,476 SF
Lot Size0.57 Acres
Price / SF$120.76
Days on Market414
Property Features for 2693 Pleasant Valley Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Ri; Rural Indust
Parking features
Gated, Carport, Driveway
Lot features
Corner Lot
Directions
Monument Drive to SW corner of Monument & North end of Pleasant Valley Rd. Property occupies the SW corner of the two streets.
Standard status
Active
APN
R303243
Size
2,476 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
772
Utilities
Sewer type
Septic Tank
Heating system
Wood
Water source
Well
Building Details
Year built
1955
Floors in Building
1
Flooring type
Concrete
Building materials
Frame
Roof type
Composition
Listing Agency:
John L Scott Real Estate Grants Pass · John L. Scott
(541) 476-1299
Listed By:
Dan T Heater · License #790200131
(541) 441-1391
Added: Jun 24, 2025
Changed: Aug 4
Last Checked: Aug 11 at 9:06PM
MLS# 220204597
Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Industrial flex building at the corner of Pleasant Valley Rd and Monument Drive in the North Valley on a 0.57-acre lot. The main shop includes a 16+ ft ceiling and a tall roll-up door, along with a heavy-duty hoist on steel rails the length of the building. Power includes 3 phase service, and the property has concrete flooring and a composition roof.
An additional side shop room offers 12+ ft ceilings and a roll-up door opening into a large carport-style area with slab flooring. Interior support space includes a bedroom area, kitchen area, and a 3/4 bath. The building is wood frame, heated with wood, and served by a well and septic tank. Parking features include gated access, a driveway, and carport parking.
Building and property are being sold as-is, and buyers should perform their own due diligence regarding uses and condition.
An additional side shop room offers 12+ ft ceilings and a roll-up door opening into a large carport-style area with slab flooring. Interior support space includes a bedroom area, kitchen area, and a 3/4 bath. The building is wood frame, heated with wood, and served by a well and septic tank. Parking features include gated access, a driveway, and carport parking.
Building and property are being sold as-is, and buyers should perform their own due diligence regarding uses and condition.
Key Highlights
- 0.57‑acre rural flex/industrial lot on Pleasant Valley Rd at Monument Drive
- Main shop has a 16+ ft ceiling plus tall roll‑up door
- Heavy‑duty hoist on steel rails along the length of the 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
$20,433
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
6.83%
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%
$408,660
$408.7K
Cap Rate 7%
$291,900
$291.9K
Cap Rate 9%
$227,033
$227.0K
Market Conditions
NOI Build-Up for 2,476 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
$34.2K $13.80/SF
− Vacancy
−$2.7K −$1.10/SF
EGI
$31.4K $12.70/SF
− OpEx
−$11.0K −$4.44/SF
NOI
$20.4K $8.25/SF
Area
Josephine County, OR
Vacancy
8.00%
Lease Rate
$13.80 /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%
$408,660
Cap Rate 7%
$291,900
Cap Rate 9%
$227,033
Alternative Uses
Best Use
Flex RnD
$291.9K
$255.4K – $340.6K
NOI $20,433 @ 7.0% cap · market cap 6.83%
Second Best
Warehouse
$265.6K
$232.4K – $309.9K
NOI $18,595 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$561.4K
$491.2K – $655.0K
NOI $39,298 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97532, OR
2,480
Population
974
Households
2.5
Avg Household Size
53
Median Age
24%
College-Educated
87%
High-School Grad
84.4 sq mi
ZIP Area
29
Density / Sq Mi
$77,125
Median Household Income
$36,628
Median Earnings
$894
Median Rent
$417,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Rural flex/industrial building with tall ceilings, roll-up doors, concrete flooring, and gated parking with well and septic service.
Where is this flex space located?
The property is located at 2693 Pleasant Valley Road Merlin, OR.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 0.57‑acre rural flex/industrial lot on Pleasant Valley Rd at Monument Drive; Main shop has a 16+ ft ceiling plus tall roll‑up door; Heavy‑duty hoist on steel rails along the length of the building
