West Eugene Industrial
For Sale
Contact for pricing
3445 W 1st Ave, Eugene, OR 97402
7.22 acre industrial site with warehouse and storage.
Property Size72,760 SF
Lot Size7.22 Acres
Price / SF$116.75
Days on Market720
Property Features for 3445 W 1st Ave
General Information
Standard status
Active
Size
72,760 SF
Lot size
7.22 Acres
Property subtype
Industrial
Zoning
I-3 Heavy Industrial
Listing Agency:
Eugene Industrial Real Estate LLC
(541) 914-5255
Listed By:
John Erving · License #200701086
Source:
Crexi
Added: Aug 31, 2024
Changed: Aug 8
Last Checked: Aug 19 at 11:16PM
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 Eugene Industrial Real Estate LLC
Investment Insights
Based on property information with market context.
Located in the West Eugene Industrial Sector, this property features 72,760 square feet of space on 7.22 acres of I-3 zoned land. The site is completely paved and offers convenient access to Beltline Highway, I-5, and Highway 99 North. Rail spur service is available with updated improvements. The main building is a 49,500 square foot concrete tilt constructed warehouse, measuring 175 feet by 275 feet. An adjacent 25 foot by 200 foot covered loading area is situated on the east side, along with an additional 20,500 square foot pre-engineered annex covered storage area adjacent to the north side of the main warehouse. The office area comprises approximately 2,760 square feet with access to the main warehouse. The main warehouse has a low eave of 16 feet and a high eave of 19 feet. The annex storage area has a low eave of 17 feet and a high eave of 20 feet. The main warehouse includes 20 foot wide by 14 foot high ground level loading doors. A fire sprinkler system is in place and operational throughout the warehouse and office area. A functional solar panel system is installed on the roof of the main warehouse, connected to the Eugene Water and Electric grid for selling excess power. The office area is dated, but can be remodeled. The warehouse floor slabs are in good condition with minimal hazing and slab cracking. An Underground Storage Tank was removed in 1996, and the Department of Environmental Quality (DEQ) issued a "No Further Action" (NFA) letter in 1998.
Key Highlights
- 72,760 SF industrial site on 7.22 acres of I‑3 zoned land.
- Rail spur access with updated improvements.
- 49,500 SF concrete tilt warehouse** with adjacent 20,500 SF pre‑engineered annex covered storage area and 25' x 200' covered loading area.
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
$775,549
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
9.13%
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%
$15,510,980
$15.5M
Cap Rate 7%
$11,079,271
$11.1M
Cap Rate 9%
$8,617,211
$8.6M
Market Conditions
NOI Build-Up for 72,760 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
$960.4K $13.20/SF
− Vacancy
−$48.0K −$0.66/SF
EGI
$912.4K $12.54/SF
− OpEx
−$136.9K −$1.88/SF
NOI
$775.5K $10.66/SF
Area
Eugene, OR
Vacancy
5.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
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%
$15,510,980
Cap Rate 7%
$11,079,271
Cap Rate 9%
$8,617,211
Alternative Uses
Best Use
Warehouse
$11.08M
$9.69M – $12.93M
NOI $775,549 @ 7.0% cap · market cap 9.13%
Second Best
Industrial
$10.01M
$8.76M – $11.67M
NOI $700,417 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$21.95M
$19.21M – $25.61M
NOI $1,536,691 @ 7.0% cap · market cap 18.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Eugene Secure Storage — 1070 S Bertelsen Rd, Eugene, OR 97402
- SnoTemp Cold Storage — 310 Seneca Rd, Eugene, OR 97402
- Jurassic Storage — 272 Wallis St, Eugene, OR 97402
- U-Pack — 3030 W 7th Pl, Eugene, OR 97402
- North American Van Lines — 3330 Roosevelt Blvd Suite 100, Eugene, OR 97402
Frequently Asked Questions
What type of property is this?
Warehouse - 7.22 acre industrial site with warehouse and storage.
Where is this warehouse located?
The property is located at 3445 W 1st Ave Eugene, OR.
What is the asking price?
The asking price for this property is $8,495,000.
What are key features of this property?
This property features: 72,760 SF industrial site on 7.22 acres of I‑3 zoned land.; Rail spur access with updated improvements.; 49,500 SF concrete tilt warehouse** with adjacent 20,500 SF pre‑engineered annex covered storage area and 25' x 200' covered loading area.
