Flex Property with Bridge
For Sale
$1,800,000
2721 S Main St, Lebanon, OR 97355
Commercial, Lebanon, OR
Property Size15,520 SF
Lot Size1.98 Acres
Price / SF$115.98
Days on Market97
Property Features for 2721 S Main St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HC
View
Territorial
Standard status
Active
Size
15,520 SF
Lot size
1.98 Acres
Taxes and HOA fees
Tax Annual Amount
6534
Building Details
Year built
1930
Listing Agency:
KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
(541) 738-7770
Listed By:
LAURA GILLOTT · License #920300248
(541) 990-7785
Added: Jul 1
Changed: Aug 19
Last Checked: Oct 5 at 12:06PM
MLS# 842905
Copyright © 2026 Willamette Valley Multiple Listing Service. 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.
This flex property comprises two buildings totaling approximately 15,520 SF on 1.98 acres. The first building measures approximately 6,500 SF and includes 14-foot ceilings, a bridge crane, 3-phase power, and city services. The second building contains approximately 8,500 SF configured for multiple tenants with shop, office, and storage areas.
The property is located at 2721 S Main St in Lebanon, Oregon, with Highway Commercial zoning. Site improvements include new LED lighting throughout and a secured, fenced storage yard. Constructed in 1930, the two-building layout provides a combination of work, office, storage, and yard areas within one commercial property.
The property is located at 2721 S Main St in Lebanon, Oregon, with Highway Commercial zoning. Site improvements include new LED lighting throughout and a secured, fenced storage yard. Constructed in 1930, the two-building layout provides a combination of work, office, storage, and yard areas within one commercial property.
Key Highlights
- Two buildings totaling approximately 15,520 SF on 1.98 acres
- Approximately 6,500 SF building with 14' ceilings and bridge crane
- 3 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
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
NOI $190,182 @ 7.0% cap · market cap 10.57%
Second Best
Industrial
$2.24M
$1.96M – $2.61M
NOI $156,621 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$4.52M
$3.96M – $5.27M
NOI $316,489 @ 7.0% cap · market cap 17.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14 ft
Clear height
Yes
Fenced yard
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building flex property with shop, office, storage, secured yard, and HC zoning.
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 totaling approximately 15,520 SF on 1.98 acres; Approximately 6,500 SF building with 14' ceilings and bridge crane; 3 phase power and city services in the first building
