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Industrial Flex Warehouse

697 34th Street Springfield, OR 97478

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Flexible industrial building allows an owner to occupy all or part while leasing additional space.

Type:Industrial
Property size:
9,660 SF
Price / SF:
$150/SF
Added:
Jul 9, 2026
Days on Market:
4
Last Refresh:
Jul 11 at 3:17 am

Property Features for 697 34th Street

General Information

Standard status
Active
Size
9,660 SF
Property subtype
Industrial

Building Details

Year Built
1987

Listing office Campbell Commercial Real Estate

Listing date Jul 9, 2026

Source Crexi

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.

697 34th Street is an industrial flex warehouse offered for sale with a layout designed to support multiple operating scenarios. The existing configuration provides flexibility for an owner-user to occupy a portion of the building and lease additional space, or for a buyer to utilize the entire facility for business operations.

The property is located in Springfield’s established industrial corridor, positioned for regional connectivity.

As a flexible industrial asset, the building is suited to buyers looking for a functional facility with room to scale occupancy depending on business needs.

Key Highlights

  • Industrial building built in 1987
  • Flexible layout lets a buyer occupy all or part of the building while leasing additional space
  • Suitable for both owner‑users and investors seeking a functional industrial asset

Local Financial Insights For Flex RnD

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $183.2k $18.96
− Vacancy −$12.5k −$1.29
EGI $170.7k $17.67
− OpEx −$59.7k −$6.18
NOI $111.0k $11.49
9,660 SF · lease $18.96/SF/yr · vacancy 6.80% · expense 35.00%

Alternative Uses

Best Use
Flex RnD
$1.59M
$1.39M – $1.85M (±1% cap)
NOI $110,954 @ 7.0% cap · market cap 7.65%
Second Best
Warehouse
$1.01M
$884.9K – $1.18M (±1% cap)
NOI $70,795 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M (±1% cap)
NOI $171,070 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Location Intelligence

Current Use by Public Records

Kustom Kraft Cabinets General Contractor

Suggested Use

Real Estate Agency Dental Office Hair Salon Spa & Massage Center Nail Salon HVAC Service Pharmacy Skin Care Clinic (Bike/Boat/Book/etc) Store Cafe & Coffee Shop

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • Frankly Plant Based Dogs and Catering — 294 S 35th St, Springfield, OR 97478

FAQs

What type of property is this?
Flex space - Flexible industrial building allows an owner to occupy all or part while leasing additional space.
Where is this flex space located?
The property is located at 697 34th Street Springfield, OR.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Industrial building built in 1987; Flexible layout lets a buyer occupy all or part of the building while leasing additional space; Suitable for both owner‑users and investors seeking a functional industrial asset
Contact an agent
(541) 484-2214 Call to check price and availability
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