Building Details

Building Size 15,520 SF

Year Built 1930

Buildings 2

Listing Agency: Keller Williams Realty Mid-Willamette - Gillott Team k***@gmail.com Show Phone

Listed By: Laura Gillott · License #920300248 Show Phone

Source: Horsepowerrealestateproperties

Added: Jul 1 Changed: Oct 31 Last Checked: Oct 29 at 2:50PM

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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 Keller Williams Realty Mid-Willamette - Gillott Team

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This flex property comprises two buildings on 1.98 acres. The first building measures approximately 6,500 square feet and has 14-foot ceilings, a bridge crane, three-phase power, and city services. The second building contains approximately 8,500 square feet arranged for multiple shop-space tenants, with office and storage areas. LED lighting has been installed throughout, and a fenced yard provides secured outdoor storage.

The property carries HC zoning, identified as Highway Commercial, and dates to 1930.

Key Highlights

• Two buildings on 1.98 acres with HC (Highway Commercial) zoning
• Approximately 6,500‑square‑foot building with 14‑foot ceilings and a bridge crane
• Three‑phase power and city services in the first building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$156,621

Cap Rate

8.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,132,420 $3.1M

Cap Rate 7%

$2,237,443 $2.2M

Cap Rate 9%

$1,740,233 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,520 SF

Gross rent

$232.8K $15.00/SF

− Vacancy

−$9.1K −$0.58/SF

EGI

$223.7K $14.42/SF

− OpEx

−$67.1K −$4.32/SF

NOI

$156.6K $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 Rate 5%

$3,132,420

Cap Rate 7%

$2,237,443

Cap Rate 9%

$1,740,233

Alternative Uses

Best Use

Warehouse

$2.72M

$2.38M – $3.17M (±1% cap)

NOI $190,182 @ 7.0% cap · market cap 10.57%

Second Best

Industrial

$2.24M

$1.96M – $2.61M (±1% cap)

NOI $156,621 @ 7.0% cap · market cap 8.70%

Theoretical Best

Office A

$4.52M

$3.96M – $5.27M (±1% cap)

NOI $316,489 @ 7.0% cap · market cap 17.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Law Firm HVAC Service Electrical Service Big Box & Wholesale Store Real Estate Agency Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

443

Businesses Nearby

Under-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

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Two buildings combine shop, office, and storage areas with three-phase power and a secured outdoor storage yard.

Where is this flex space located?

The property is located at 2721 S Main St Lebanon, OR.

What is the asking price?

The asking price for this property is $1,800,000.

What are key features of this property?

This property features: Two buildings on 1.98 acres with HC (Highway Commercial) zoning; Approximately 6,500‑square‑foot building with 14‑foot ceilings and a bridge crane; Three‑phase power and city services in the first building