Building Details

Year Built 1960

Buildings 1

Stories 1

Listing Agency: RE/MAX Integrity

Listed By: Jody Tatone · License #780403754 Show Phone

Source: Christiesrealestateevg

Added: Jul 21 Changed: Sep 9 Last Checked: Oct 5 at 10:54PM

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Investment Insights

Based on property information with market context.

This single-story flex-space property contains 7,500 square feet of usable area and was built in 1960. The configuration supports retail or warehouse use, providing a versatile commercial setting for a range of operations.

Positioned on Hwy 99 in central Drain, the property offers paved on-site parking along with additional street parking. Its location places the building within the community’s central area and provides direct highway exposure.

Key Highlights

• 7,500 square feet of usable space
• Single‑level flex‑space building
• Retail or warehouse use supported by the existing configuration

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,412

Cap Rate

6.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$908,240 $908.2K

Cap Rate 7%

$648,743 $648.7K

Cap Rate 9%

$504,578 $504.6K

Market Conditions

NOI Build-Up for 7,500 SF

Gross rent

$67.5K $9.00/SF

− Vacancy

−$2.6K −$0.35/SF

EGI

$64.9K $8.65/SF

− OpEx

−$19.5K −$2.59/SF

NOI

$45.4K $6.05/SF

Area

Douglas County, OR

Vacancy

3.89%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$908,240

Cap Rate 7%

$648,743

Cap Rate 9%

$504,578

Alternative Uses

Best Use

Flex RnD

$963.2K

$842.8K – $1.12M (±1% cap)

NOI $67,421 @ 7.0% cap · market cap 9.70%

Second Best

Industrial

$648.7K

$567.7K – $756.9K (±1% cap)

NOI $45,412 @ 7.0% cap · market cap 6.53%

Theoretical Best

Specialty Retail

$1.30M

$1.14M – $1.51M (±1% cap)

NOI $90,866 @ 7.0% cap · market cap 13.07%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Western Union Bank Ray's Food Place Grocery & Convenience Store Cardtronics ATM Atm

Suggested Use

Top Pick Plumbing Service Building Supply Auto Parts Store Storage Facility Butcher Cafe & Coffee Shop

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

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

138

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 97435, OR

2,326

Population

1,108

Households

2.1

Avg Household Size

47

Median Age

16%

College-Educated

87%

High-School Grad

99.0 sq mi

ZIP Area

23

Density / Sq Mi

$54,679

Median Household Income

$34,788

Median Earnings

$978

Median Rent

$270,800

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Single-level commercial space suited to retail or warehouse use, with paved on-site parking and additional street parking.

Where is this flex space located?

The property is located at 308 N First St Drain, OR.

What is the asking price?

The asking price for this property is $695,000.

What are key features of this property?

This property features: 7,500 square feet of usable space; Single‑level flex‑space building; Retail or warehouse use supported by the existing configuration