Leased Industrial Complex with
For Sale
$2,800,000
2711 S Main & 2721 Rd, Lebanon, OR 97355
Fully leased industrial complex with three buildings, fenced grounds, bridge cranes, and updated roof, lighting, and paving.
Property Size26,456 SF
Lot Size2.90 Acres
Price / SF$96.97
Days on Market114
Property Features for 2711 S Main & 2721 Rd
General Information
Standard status
Active
Size
26,456 SF
Lot size
2.90 Acres
Property subtype
Industrial
Zoning
HC
Occupancy
100%
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Heavy Power
Yes
Taxes and HOA fees
Annual Taxes
$9,818
Building Details
Building Size
26,456 SF
Year Built
1976
Tenancy
Multi
Listing Agency:
KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
(541) 451-2211
Listed By:
LAURA GILLOTT · License #920300248
Source:
Tripleoaksrealty
Added: Apr 21
Changed: Aug 8
Last Checked: Aug 11 at 4:41AM
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 - GILLOTT TEAM
Investment Insights
Based on property information with market context.
This fully leased industrial complex includes three separate buildings totaling 28,876 square feet on two tax lots totaling 2.90 acres. The property is fenced and secured, with tenant mix that includes construction, retail, auto repair, storage, and office use. Improvements include a new roof on building 2711 (2017), new LED lighting, and paving (2024).
Two buildings feature 14' ceilings and operating bridge cranes. The complex also includes 3-phase power and City water/sewer service.
Zoned HC, the property offers a multi-building layout designed to support a combination of industrial and related service operations within one secured, fully leased setting.
Two buildings feature 14' ceilings and operating bridge cranes. The complex also includes 3-phase power and City water/sewer service.
Zoned HC, the property offers a multi-building layout designed to support a combination of industrial and related service operations within one secured, fully leased setting.
Key Highlights
- Fully leased industrial complex with 3 separate buildings totaling 28,876 SF on two tax lots (2.90 acres)
- Zoned HC; tenant mix includes construction, retail, auto repair, storage, and office
- Two buildings feature 14' ceilings and operating bridge cranes
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
$181,110
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
6.47%
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%
$3,622,200
$3.6M
Cap Rate 7%
$2,587,286
$2.6M
Cap Rate 9%
$2,012,333
$2.0M
Market Conditions
NOI Build-Up for 28,876 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
$294.5K $10.20/SF
− Vacancy
−$15.9K −$0.55/SF
EGI
$278.6K $9.65/SF
− OpEx
−$97.5K −$3.38/SF
NOI
$181.1K $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%
$3,622,200
Cap Rate 7%
$2,587,286
Cap Rate 9%
$2,012,333
Alternative Uses
Best Use
Retail
$6.34M
$5.55M – $7.39M
NOI $443,688 @ 7.0% cap · market cap 15.85%
Second Best
Warehouse
$5.05M
$4.42M – $5.90M
NOI $353,847 @ 7.0% cap · market cap 12.64%
Theoretical Best
Office A
$8.41M
$7.36M – $9.81M
NOI $588,849 @ 7.0% cap · market cap 21.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Heavy power
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97355, OR
32,413
Population
13,623
Households
2.4
Avg Household Size
41
Median Age
18%
College-Educated
91%
High-School Grad
214.3 sq mi
ZIP Area
151
Density / Sq Mi
$64,307
Median Household Income
$39,934
Median Earnings
$1,267
Median Rent
$332,700
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 - Fully leased industrial complex with three buildings, fenced grounds, bridge cranes, and updated roof, lighting, and paving.
Where is this flex space located?
The property is located at 2711 S Main & 2721 Rd Lebanon, OR.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Fully leased industrial complex with 3 separate buildings totaling 28,876 SF on two tax lots (2.90 acres); Zoned HC; tenant mix includes construction, retail, auto repair, storage, and office; Two buildings feature 14' ceilings and operating bridge cranes
