Manufacturing Property with
For Sale
$429,900
29100 ZIMMERMAN Rd, Rainier, OR 97048
Land, Rainier, OR
Property Size5,400 SF
Lot Size9.68 Acres
Price / SF$79.61
Days on Market52
Property Features for 29100 ZIMMERMAN Rd
General Information
Property type
Land
Property subtype
Other
Zoning
PF-80
Elementary school
Hudson Park
Middle school
Rainier
High school
Rainier
Directions
Fern Hill Rd, L on Lentz, L on Zimmerman, property at end of road.
Subdivision
_155
Standard status
Active
APN
19151
Lot size
9.68 Acres
Taxes and HOA fees
Tax Description
SEC 05 TWN 6N RNG 2W
Tax Annual Amount
3638
Legal Description
SEC 05 TWN 6N RNG 2W
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Michele Montoya · License #200501263
(503) 453-7242
Added: Jun 30
Changed: Aug 19
Last Checked: Aug 20 at 11:06AM
MLS# 619404320
Copyright © 2026 Regional Multiple Listing Services. 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 manufacturing property includes a 5,400-square-foot commercial outbuilding on 9.68 acres. The fully insulated structure has a heavy-equipment concrete slab, three 250-amp electrical panels, a 400-amp backup generator, and five mini-split heating and cooling systems. Interior partitions can be adjusted or removed, creating adaptable climate-controlled work areas. An integrated security system supports controlled operations, while the surrounding grounds include a substantial gravel area for vehicles, machinery, or RVs.
The property is supported by a private well, septic system, and rain catchment cistern. Mature timber surrounds the flat acreage, providing separation from neighboring activity. PF-80 zoning is identified for the property, and the address is 29100 Zimmerman Rd in Rainier, Oregon.
The building configuration and infrastructure support manufacturing, secure storage, mechanical work, and agricultural processing uses as described in the property information.
The property is supported by a private well, septic system, and rain catchment cistern. Mature timber surrounds the flat acreage, providing separation from neighboring activity. PF-80 zoning is identified for the property, and the address is 29100 Zimmerman Rd in Rainier, Oregon.
The building configuration and infrastructure support manufacturing, secure storage, mechanical work, and agricultural processing uses as described in the property information.
Key Highlights
- 9.68‑acre property with a 5,400‑square‑foot commercial outbuilding
- Heavy‑duty slab and electrical capacity from three 250‑amp panels
- 400‑amp backup generator and five mini‑split HVAC systems
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
$33,893
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
7.88%
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%
$677,860
$677.9K
Cap Rate 7%
$484,186
$484.2K
Cap Rate 9%
$376,589
$376.6K
Market Conditions
NOI Build-Up for 5,400 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
$51.8K $9.60/SF
− Vacancy
−$3.4K −$0.63/SF
EGI
$48.4K $8.97/SF
− OpEx
−$14.5K −$2.69/SF
NOI
$33.9K $6.28/SF
Area
Columbia County, OR
Vacancy
6.60%
Lease Rate
$9.60 /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%
$677,860
Cap Rate 7%
$484,186
Cap Rate 9%
$376,589
Alternative Uses
Best Use
Flex RnD
$974.0K
$852.3K – $1.14M
NOI $68,182 @ 7.0% cap · market cap 15.86%
Second Best
Warehouse
$587.9K
$514.5K – $685.9K
NOI $41,156 @ 7.0% cap · market cap 9.57%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,031 @ 7.0% cap · market cap 23.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 97048, OR
6,965
Population
3,115
Households
2.2
Avg Household Size
48
Median Age
15%
College-Educated
92%
High-School Grad
97.8 sq mi
ZIP Area
71
Density / Sq Mi
$74,453
Median Household Income
$35,528
Median Earnings
$882
Median Rent
$364,300
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 - Insulated commercial workshop with flexible interiors, heavy-duty infrastructure, and independent water and wastewater systems.
Where is this manufacturing property located?
The property is located at 29100 ZIMMERMAN Rd Rainier, OR.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: 9.68‑acre property with a 5,400‑square‑foot commercial outbuilding; Heavy‑duty slab and electrical capacity from three 250‑amp panels; 400‑amp backup generator and five mini‑split HVAC systems
