Executive Office Building For
For Sale
Contact for pricing
649 Fir St, Drain, OR 97435
5500+ sqft office building with parking and multiple uses.
Property Size5,512 SF
Lot Size0.80 Acres
Price / SF$172.35
Days on Market155
Property Features for 649 Fir St
General Information
Standard status
Active
Size
5,512 SF
Total Parking Spaces
40
Lot size
0.80 Acres
Property subtype
Office
Zoning
INDUSTR
Building Details
Year Built
1971
Buildings
1
Stories
3
Tenancy
Single
Listing Agency:
Oregon Life Homes
(203) 772-8520
Listed By:
Kim Weaver · License #OR
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 9 at 10:20AM
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 Oregon Life Homes
Investment Insights
Based on property information with market context.
This executive office building offers over 5500 square feet of space, featuring 12 large offices, 4 bathrooms, and common areas. The property includes dedicated parking for 25 cars and is situated on 0.8 acres. Current zoning allows for multiple uses, including manufacturing and storage units. The property could also serve as a group home or adult foster care facility.
Key Highlights
- 5500+ sq ft executive office building.
- Zoning allows for multiple uses including manufacturing, storage, group home, or adult foster care.
- Dedicated parking for 25 cars.
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
$51,116
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
5.38%
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%
$1,022,320
$1.0M
Cap Rate 7%
$730,229
$730.2K
Cap Rate 9%
$567,956
$568.0K
Market Conditions
NOI Build-Up for 5,512 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
$79.4K $14.40/SF
− Vacancy
−$6.3K −$1.15/SF
EGI
$73.0K $13.25/SF
− OpEx
−$21.9K −$3.97/SF
NOI
$51.1K $9.27/SF
Area
Douglas County, OR
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,022,320
Cap Rate 7%
$730,229
Cap Rate 9%
$567,956
Alternative Uses
Best Use
Self Storage
$730.2K
$639.0K – $851.9K
NOI $51,116 @ 7.0% cap · market cap 5.38%
Second Best
Office B
$680.5K
$595.5K – $793.9K
NOI $47,636 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$954.0K
$834.8K – $1.11M
NOI $66,780 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
Explore this area
Business Placement
Demographics for 97435, OR
2,326
Population
1,108
Households
2.1
Avg Household Size
47
Median Age
16%
College-Educated
87%
High-School Grad
99.0 sq mi
ZIP Area
23
Density / Sq Mi
$54,679
Median Household Income
$34,788
Median Earnings
$978
Median Rent
$270,800
Median Home Value
Market
Vacancy Rate% for Office 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?
Office building - 5500+ sqft office building with parking and multiple uses.
Where is this office building located?
The property is located at 649 Fir St Drain, OR.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 5500+ sq ft executive office building.; Zoning allows for multiple uses including manufacturing, storage, group home, or adult foster care.; Dedicated parking for 25 cars.
