Listing Agency: Keller Williams Realty Mid-Willamette

Listed By: Paul J Terjeson · License #960900133 Show Phone

Source: Century21northhomes

Added: Jun 9 Changed: Oct 7 Last Checked: Oct 10 at 1:18AM

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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.

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 / Yr

$106,624

Cap Rate

7.13%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $310,529 @ 7.0% cap · market cap 20.77%

Second Best

Warehouse

$2.98M

$2.60M – $3.47M (±1% cap)

NOI $208,318 @ 7.0% cap · market cap 13.93%

Theoretical Best

Office A

$4.95M

$4.33M – $5.78M (±1% cap)

NOI $346,669 @ 7.0% cap · market cap 23.19%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Advanta Seeds Pacific Logistics Company Central Garden & Pet ... Distribution Center

Suggested Use

Top Pick Electrical Service Auto Repair Shop (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Florist Grocery & Convenience Store

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

Utilities to site

Location Intelligence

Trade Area within ½ mile

20

Businesses Nearby

Well-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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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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 - Office, warehouse, shop, and greenhouse improvements support varied operational needs.

Where is this flex space located?

The property is located at 33725 Columbus Street 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