Agribusiness Flex
For Sale
$1,495,000
33725 Columbus St Se, Albany, OR 97322
Office, warehouse, shop, and greenhouse improvements support varied operational needs.
Property Size17,000 SF
Lot Size20.00 Acres
Price / SF$87.94
Days on Market13
Property Features for 33725 Columbus St Se
General Information
Standard status
Active
Size
17,000 SF
Lot size
20.00 Acres
Property subtype
Land
Zoning
EFU & Agribusiness
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$9,563
Listing Agency:
Keller Williams Realty Mid-Willamette
(503) 999-6777
Listed By:
Paul Terjeson · License #960900133
(503) 999-6777
Source:
Exprealty
Added: Aug 5
Changed: Aug 16
Last Checked: Aug 16 at 2:15PM
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 Keller Williams Realty Mid-Willamette
Investment Insights
Based on property information with market context.
This flex property at 33725 Columbus St SE in Albany, Oregon, encompasses 20± acres with nearly 17, 000 SF of improvements. The site includes office areas, warehouse and shop buildings, plus greenhouses, creating a varied operational footprint for agricultural support businesses, manufacturing, research, processing, and contractor operations.
The property carries both EFU and Agribusiness zoning. Agribusiness zoning permits a single-family residence and may accommodate home occupation opportunities. HVAC, power, and water infrastructure extend throughout the buildings and greenhouse areas, supporting the existing improvements and their stated business applications.
The property carries both EFU and Agribusiness zoning. Agribusiness zoning permits a single-family residence and may accommodate home occupation opportunities. HVAC, power, and water infrastructure extend throughout the buildings and greenhouse areas, supporting the existing improvements and their stated business applications.
Key Highlights
- 20± acres with nearly 17, 000 SF of improvements
- EFU and Agribusiness zoning
- Office, warehouse, shop, and greenhouse improvements
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
$106,624
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
7.13%
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%
$2,132,480
$2.1M
Cap Rate 7%
$1,523,200
$1.5M
Cap Rate 9%
$1,184,711
$1.2M
Market Conditions
NOI Build-Up for 17,000 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
$173.4K $10.20/SF
− Vacancy
−$9.4K −$0.55/SF
EGI
$164.0K $9.65/SF
− OpEx
−$57.4K −$3.38/SF
NOI
$106.6K $6.27/SF
Area
Linn County, OR
Vacancy
5.40%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
35.00%
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%
$2,132,480
Cap Rate 7%
$1,523,200
Cap Rate 9%
$1,184,711
Alternative Uses
Best Use
Office B
$4.44M
$3.88M – $5.18M
NOI $310,529 @ 7.0% cap · market cap 20.77%
Second Best
Warehouse
$2.98M
$2.60M – $3.47M
NOI $208,318 @ 7.0% cap · market cap 13.93%
Theoretical Best
Office A
$4.95M
$4.33M – $5.78M
NOI $346,669 @ 7.0% cap · market cap 23.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97322, OR
37,148
Population
14,867
Households
2.5
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
63.3 sq mi
ZIP Area
587
Density / Sq Mi
$68,536
Median Household Income
$43,530
Median Earnings
$1,335
Median Rent
$321,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Office, warehouse, shop, and greenhouse improvements support varied operational needs.
Where is this flex space located?
The property is located at 33725 Columbus St Se Albany, OR.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 20± acres with nearly 17, 000 SF of improvements; EFU and Agribusiness zoning; Office, warehouse, shop, and greenhouse improvements
