Building Details

Year built 1980

Floors in Building 1

Building materials Brick

Listing Agency: Bella Casa Real Estate Group i***@thebellacasagroup.com Show Phone

Listed By: Joni McCreith · License #200402350 Show Phone

Added: Jun 24 Changed: Oct 4 Last Checked: Oct 10 at 2:06PM

Report an Issue

MLS# 555172593

Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 1,430-square-foot medical office property was built in 1980 with brick construction and heat-pump heating. The space is suited to medical or dental operations and may also accommodate conversion to another office use.

Located at 349 SE BAKER St in McMinnville, the property is within the 97128 postal area of Yamhill County. C-3 zoning is in place, supporting the property’s commercial office positioning.

Key Highlights

• 1,430 square feet of office space
• Medical or dental office configuration
• Can be converted to other office use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,511

Cap Rate

4.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$370,220 $370.2K

Cap Rate 7%

$264,443 $264.4K

Cap Rate 9%

$205,678 $205.7K

Market Conditions

NOI Build-Up for 1,430 SF

Gross rent

$32.6K $22.80/SF

− Vacancy

−$7.9K −$5.54/SF

EGI

$24.7K $17.26/SF

− OpEx

−$6.2K −$4.31/SF

NOI

$18.5K $12.94/SF

Area

Yamhill County, OR

Vacancy

24.30%

Lease Rate

$22.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$370,220

Cap Rate 7%

$264,443

Cap Rate 9%

$205,678

Alternative Uses

Best Use

Office B

$264.4K

$231.4K – $308.5K (±1% cap)

NOI $18,511 @ 7.0% cap · market cap 4.46%

Second Best

Healthcare Medical

$153.1K

$133.9K – $178.6K (±1% cap)

NOI $10,714 @ 7.0% cap · market cap 2.58%

Theoretical Best

Office A

$386.0K

$337.7K – $450.3K (±1% cap)

NOI $27,019 @ 7.0% cap · market cap 6.51%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Oregon Whole Health Hospital Dr. Jan Radzik, ... Pediatrician

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Locksmith Catering Service Furniture & Home Goods Carpet & Flooring 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.

Location Intelligence

Trade Area within ½ mile

1,409

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 97128, OR

38,394

Population

15,291

Households

2.5

Avg Household Size

40

Median Age

28%

College-Educated

88%

High-School Grad

112.2 sq mi

ZIP Area

342

Density / Sq Mi

$72,055

Median Household Income

$37,427

Median Earnings

$1,295

Median Rent

$419,200

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

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

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

Similar For Sale Nearby

Remodeled Commercial Space in McMinnville

636 NE Baker St, Mcminnville, OR

Contact for pricing

3,887 SF

View details

Updated Duplex with Separate Driveways

813 SE Ford St, Mcminnville, OR 97128

$439,000

1,381 SF

View details

Duplex with Separate Garages

548 NW 18th ST, Mcminnville, OR 97128

$625,000

1,326 SF

View details

Victorian Duplex with Parking

707 NE 5th St, Mcminnville, OR 97128

$650,000

1,906 SF

View details

Southwest Terrace 55+ Home

1501 SW Baker (#50) St #50, Mcminnville, OR 97128

$37,000

View details

Victorian Short-Term Rental

206 NE 10TH St, Mcminnville, OR 97128

$849,000

3,984 SF

View details

French Bistro Restaurant

729 NE 3RD St, Mcminnville, OR 97128

$1,895,000

4,000 SF

View details

Historic Colonial Bed & Breakfast

809 NE Evans St, Mcminnville, OR 97128

$1,999,000

8,460 SF

View details

Flex Space with Outdoor Storage

2083 NE Colvin Ct, Mcminnville, OR 97128

$3,900,000

24,600 SF

View details

Operating Winery in Wine Country

475 NE 17th St, Mcminnville, OR

Contact for pricing

0.28 Acres

View details

Garden-Style Apartment Community

2048 NE HIGHWAY 99W, Mcminnville, OR 97128

$7,900,000

3.74 Acres

View details

Tractor Supply NNN Property

950 SW Booth Bend Rd, Mcminnville, OR 97128

Contact for pricing

21,930 SF

View details

Similar Off Market Nearby

• Baker Street Animal Hospital — 1715 SW Baker St, McMinnville, OR 97128
• Third Street Veterinary Hospital — 303 NE Irvine St, McMinnville, OR 97128
• Homeward Bound Pets Spay and Neuter Clinic — 723 NE Evans St, McMinnville, OR 97128

Frequently Asked Questions

What type of property is this?

Medical Office Space - Brick office space with a flexible layout for medical, dental, or general office use.

Where is this medical office space located?

The property is located at 349 SE BAKER St McMinnville, OR.

What is the asking price?

The asking price for this property is $415,000.

What are key features of this property?

This property features: 1,430 square feet of office space; Medical or dental office configuration; Can be converted to other office use