Industrial Flex Building with
For Sale
Contact for pricing
58 - 60 Grimes Street, Eugene, OR 97402
Two-space flex configuration includes four grade-level doors, 3-phase power, office space, and mezzanine storage.
Property Size7,920 SF
Lot Size0.48 Acres
Price / SF$135.10
Days on Market68
Property Features for 58 - 60 Grimes Street
General Information
Standard status
Active
Size
7,920 SF
Lot size
0.48 Acres
Property subtype
Industrial
Zoning
I-3 Heavy Industrial
Investment Type
Owner/User
Warehouse & Industrial
Drive-In Doors
4
Heavy Power
Yes
Building Details
Year Built
1976
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
Campbell Commercial Real Estate
Listed By:
Bill Newland · License #OR 200812038
(541) 484-2214
Source:
Crexi
Added: Jun 30
Changed: Sep 3
Last Checked: Sep 5 at 12:52PM
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 Campbell Commercial Real Estate
Investment Insights
Based on property information with market context.
58–60 Grimes Street is an owner-user or investment industrial flex building with a current two-space configuration. The existing setup allows a buyer to occupy one side while leasing the other, or use the entire facility as needed. Improvements include four grade-level doors, 3-phase power, warehouse heating, office space, and mezzanine storage.
The property is located on a 0.48-acre site in Eugene, Oregon. It is designated I-3 Heavy Industrial zoning, supporting heavy industrial uses.
With approximately 7,920 square feet of building area, the layout and building systems are suited for flexible warehouse and office occupancy within a heavy industrial zoning framework.
The property is located on a 0.48-acre site in Eugene, Oregon. It is designated I-3 Heavy Industrial zoning, supporting heavy industrial uses.
With approximately 7,920 square feet of building area, the layout and building systems are suited for flexible warehouse and office occupancy within a heavy industrial zoning framework.
Key Highlights
- Two‑space flex building totaling approx. 7,920 SF on a 0.48‑acre site (built 1976)
- Four grade‑level doors for warehouse access
- 3‑phase power plus warehouse heating
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
$84,419
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
7.89%
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%
$1,688,380
$1.7M
Cap Rate 7%
$1,205,986
$1.2M
Cap Rate 9%
$937,989
$938.0K
Market Conditions
NOI Build-Up for 7,920 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
$104.5K $13.20/SF
− Vacancy
−$5.2K −$0.66/SF
EGI
$99.3K $12.54/SF
− OpEx
−$14.9K −$1.88/SF
NOI
$84.4K $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%
$1,688,380
Cap Rate 7%
$1,205,986
Cap Rate 9%
$937,989
Alternative Uses
Best Use
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,419 @ 7.0% cap · market cap 7.89%
Second Best
Flex RnD
$1.16M
$1.02M – $1.35M
NOI $81,297 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,270 @ 7.0% cap · market cap 15.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Under-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
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Frequently Asked Questions
What type of property is this?
Flex space - Two-space flex configuration includes four grade-level doors, 3-phase power, office space, and mezzanine storage.
Where is this flex space located?
The property is located at 58 - 60 Grimes Street Eugene, OR.
What is the asking price?
The asking price for this property is $1,070,000.
What are key features of this property?
This property features: Two‑space flex building totaling approx. 7,920 SF on a 0.48‑acre site (built 1976); Four grade‑level doors for warehouse access; 3‑phase power plus warehouse heating
