Industrial Shop on Fenced
For Sale
Contact for pricing
29984 Cecil Ave, Eugene, OR 97402
Industrial shop with heavy power on 2.54 fenced acres.
Property Size12,824 SF
Lot Size2.54 Acres
Price / SF$127.89
Days on Market209
Property Features for 29984 Cecil Ave
General Information
Standard status
Active
Size
12,824 SF
Lot size
2.54 Acres
Property subtype
Industrial
Zoning
I-2
Occupancy
70%
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
1988
Tenancy
Multi
Listing Agency:
Evans, Elder Brown & Seubert
(541) 345-4860
Listed By:
David Holland · License #OR 200002060
Source:
Crexi
Added: Jan 23
Changed: Aug 14
Last Checked: Aug 19 at 10:15PM
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 Evans, Elder Brown & Seubert
Investment Insights
Based on property information with market context.
This industrial property features a shop on 2.54 acres of fenced and graveled I-2 land. The property includes an 11,480 square foot industrial shop with abundant heavy power, as well as two modular office buildings measuring 1,344 square feet and 780 square feet. A lease is in place for the shop, two modular offices, and 1.81 acres. The remaining 0.73 acres of land, with storage buildings, is currently available. The leased portion includes the 1.81 westerly acres, the 11,480 square foot industrial shop building, the 1,344 square foot modular building with offices, kitchen, and bathroom, plus a second 780 square foot modular. The yard is fenced, gated, and graveled. The shop building includes one 5-ton bridge crane, four 1-ton jib cranes, and a trolley rail system running down the center of the shop. It also features abundant 3-phase power with service up to 640 volts, a 30 ft peak ceiling height, and three 18 ft high overhead doors. The available portion includes the 0.73 easterly acres, a 600 square foot modular building (suitable for an office or break room), and approximately 1800 square feet of metal storage building with a roll-up door, conditioned office space, and imbedded shipping containers.
Key Highlights
- Lease in place for shop, two modular offices, and 1.81 acres, providing immediate income.
- 11,480 SF Industrial shop with abundant heavy power (up to 640 volts) and crane systems (5‑ton bridge crane, four 1‑ton jib cranes, trolly rail system).**
- 2.54 Acres of fenced and graveled I‑2 land.
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
$123,449
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
7.53%
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%
$2,468,980
$2.5M
Cap Rate 7%
$1,763,557
$1.8M
Cap Rate 9%
$1,371,656
$1.4M
Market Conditions
NOI Build-Up for 12,824 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
$184.7K $14.40/SF
− Vacancy
−$8.3K −$0.65/SF
EGI
$176.4K $13.75/SF
− OpEx
−$52.9K −$4.13/SF
NOI
$123.4K $9.63/SF
Area
Eugene, OR
Vacancy
4.50%
Lease Rate
$14.40 /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%
$2,468,980
Cap Rate 7%
$1,763,557
Cap Rate 9%
$1,371,656
Alternative Uses
Best Use
Industrial
$1.76M
$1.54M – $2.06M
NOI $123,449 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.87M
$3.39M – $4.51M
NOI $270,843 @ 7.0% cap · market cap 16.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Explore this area
Business Placement
Demographics for 97402, OR
56,610
Population
23,882
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
91%
High-School Grad
68.6 sq mi
ZIP Area
825
Density / Sq Mi
$55,743
Median Household Income
$35,728
Median Earnings
$1,287
Median Rent
$330,000
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 - Industrial shop with heavy power on 2.54 fenced acres.
Where is this manufacturing property located?
The property is located at 29984 Cecil Ave Eugene, OR.
What is the asking price?
The asking price for this property is $1,640,000.
What are key features of this property?
This property features: Lease in place for shop, two modular offices, and 1.81 acres, providing immediate income.; 11,480 SF Industrial shop with abundant heavy power (up to 640 volts) and crane systems (5‑ton bridge crane, four 1‑ton jib cranes, trolly rail system).**; 2.54 Acres of fenced and graveled I‑2 land.
