Flex Space with Dock
New
For Sale
$860,000
524 SW 12th St, Pendleton, OR 97801
Office component includes reception, private offices, storage, and restrooms.
Property Size8,734 SF
Price / SF$98.47
Days on Market5
Property Features for 524 SW 12th St
General Information
Standard status
Active
Size
8,734 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Span
Yes
Dock-High Doors
3
Building Details
Buildings
1
Building Size
8,734 SF
Listing Agency:
The Whitney Land Company
(541) 379-1338
Listed By:
Ashley Kilkenny Moala · License ##138102
(541) 379-1338
Source:
Whitneylandcompany
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 28 at 1:56PM
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 The Whitney Land Company
Investment Insights
Based on property information with market context.
This flex-space property combines an 8,734 SF warehouse with dedicated office improvements. The office area includes a reception area, 4 private offices, a storage room, and restrooms. The warehouse offers clear-span space, a mezzanine excluded from the stated square footage, 23' eave height, and 3 dock-high roll-up doors. A fully enclosed laydown yard extends the usable site area for the property’s commercial functions.
Located at 524 SW 12th St in Pendleton, Oregon, the building has close access to I-84 and Hwy 395. The property is available for sale or lease.
Located at 524 SW 12th St in Pendleton, Oregon, the building has close access to I-84 and Hwy 395. The property is available for sale or lease.
Key Highlights
- 8,734 SF office and warehouse building
- Clear‑span warehouse with 23' eave height
- 3 dock‑high roll‑up doors
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
$62,539
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
7.27%
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%
$1,250,780
$1.3M
Cap Rate 7%
$893,414
$893.4K
Cap Rate 9%
$694,878
$694.9K
Market Conditions
NOI Build-Up for 8,734 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
$78.6K $9.00/SF
− Vacancy
−$5.0K −$0.58/SF
EGI
$73.6K $8.42/SF
− OpEx
−$11.0K −$1.26/SF
NOI
$62.5K $7.16/SF
Area
Umatilla County, OR
Vacancy
6.40%
Lease Rate
$9.00 /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%
$1,250,780
Cap Rate 7%
$893,414
Cap Rate 9%
$694,878
Alternative Uses
Best Use
Office B
$1.35M
$1.18M – $1.58M
NOI $94,799 @ 7.0% cap · market cap 11.02%
Second Best
Warehouse
$893.4K
$781.7K – $1.04M
NOI $62,539 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,983 @ 7.0% cap · market cap 14.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Dock-high doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97801, OR
21,882
Population
9,033
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
92%
High-School Grad
496.2 sq mi
ZIP Area
44
Density / Sq Mi
$73,308
Median Household Income
$38,719
Median Earnings
$924
Median Rent
$277,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Office component includes reception, private offices, storage, and restrooms.
Where is this flex space located?
The property is located at 524 SW 12th St Pendleton, OR.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: 8,734 SF office and warehouse building; Clear‑span warehouse with 23' eave height; 3 dock‑high roll‑up doors
