Two-Building Flex Industrial
For Sale
$875,000
424 S COMSTOCK AVE, Sutherlin, OR 97479
M-1-zoned property with office, shop, storage, and utility improvements.
Property Size8,000 SF
Lot Size2.74 Acres
Price / SF$109.38
Days on Market49
Property Features for 424 S COMSTOCK AVE
General Information
Standard status
Active
Size
8,000 SF
Lot size
2.74 Acres
Property subtype
CommercialSale
Zoning
M-1
Additional Details
Three-Phase Power
Yes
Amenities
furnished office spaces
bathrooms
lunchroom
loft area
Building Details
Buildings
2
Listing Agency:
North County Realty
(541) 459-2232
Listed By:
Courtney Conn · License #201228671
Source:
Hansenrealtygroup
Added: Jul 13
Changed: Aug 30
Last Checked: Aug 30 at 12:47AM
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 North County Realty
Investment Insights
Based on property information with market context.
This flex industrial property occupies 2.74 acres and includes two shop buildings, each measuring 40’ x 100’. The improvements feature furnished office areas, bathrooms, a lunchroom, and large loft space for additional storage. Both buildings have concrete floors and three-phase power.
The flat site provides room for trucks and equipment to maneuver across the property. M-1 zoning applies to the parcel. The property is located at 424 S Comstock Ave in Sutherlin, Oregon, offering a combination of enclosed shop space, office functionality, storage capacity, and usable yard area within one site.
The flat site provides room for trucks and equipment to maneuver across the property. M-1 zoning applies to the parcel. The property is located at 424 S Comstock Ave in Sutherlin, Oregon, offering a combination of enclosed shop space, office functionality, storage capacity, and usable yard area within one site.
Key Highlights
- 2.74‑acre flat industrial parcel
- Two shop buildings, each measuring 40’ x 100’
- Furnished offices, bathrooms, lunchroom, and large loft storage areas
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
$71,916
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
8.22%
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%
$1,438,320
$1.4M
Cap Rate 7%
$1,027,371
$1.0M
Cap Rate 9%
$799,067
$799.1K
Market Conditions
NOI Build-Up for 8,000 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
$120.0K $15.00/SF
− Vacancy
−$9.4K −$1.17/SF
EGI
$110.6K $13.83/SF
− OpEx
−$38.7K −$4.84/SF
NOI
$71.9K $8.99/SF
Area
Douglas County, OR
Vacancy
7.80%
Lease Rate
$15.00 /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%
$1,438,320
Cap Rate 7%
$1,027,371
Cap Rate 9%
$799,067
Alternative Uses
Best Use
Flex RnD
$1.03M
$899.0K – $1.20M
NOI $71,916 @ 7.0% cap · market cap 8.22%
Second Best
Warehouse
$840.3K
$735.2K – $980.3K
NOI $58,819 @ 7.0% cap · market cap 6.72%
Theoretical Best
Specialty Retail
$1.38M
$1.21M – $1.62M
NOI $96,924 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97479, OR
10,161
Population
4,759
Households
2.1
Avg Household Size
47
Median Age
15%
College-Educated
94%
High-School Grad
67.5 sq mi
ZIP Area
151
Density / Sq Mi
$56,493
Median Household Income
$36,867
Median Earnings
$1,207
Median Rent
$281,500
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.
Frequently Asked Questions
What type of property is this?
Flex space - M-1-zoned property with office, shop, storage, and utility improvements.
Where is this flex space located?
The property is located at 424 S COMSTOCK AVE Sutherlin, OR.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 2.74‑acre flat industrial parcel; Two shop buildings, each measuring 40’ x 100’; Furnished offices, bathrooms, lunchroom, and large loft storage areas
