Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    702 S 28Th St Springfield, OR 97477

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two HI-zoned industrial parcels totaling 8.56 acres for sale.

    Property Features for 702 S 28Th St

    General Information

    Standard status
    Active
    Zoning
    Heavy Industrial

    We can help!

    Listing Contact
    Bill Newland
    Bill Newland
    Source: Crexi

    Listing Agency: Campbell Commercial Real Estate Listing Agent: Bill Newland

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Industrial Parcels in Established Corridor

    Two HI-zoned industrial parcels, totaling 8.56 acres, are available separately or together. The property includes a 5.91-acre parcel and a 2.65-acre parcel. The land is flat and usable, situated in an established industrial corridor with recently completed sidewalks and bioswales. It is ideal for manufacturing, yard use, storage, or industrial development. The location provides excellent access to Hwy 126 and I-5.
    Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Lane
    State
    Oregon
    Longitude
    -122.9876072
    Latitude
    44.0403724

    Nearby Similar for Sale

    • New
      $974,900
      3,744 SF

      Four-Unit Multifamily Investment Property

      Four turnkey rental units, 100% occupied, in a well-kept neighborhood.
      1905 17Th St, Springfield, OR 97477
      View Details
    • New
      $699,900
      3,372 SF

      Updated Fourplex in Springfield, Oregon

      Well-maintained fourplex with recent upgrades and long-term tenants.
      5495 72Nd St, Springfield, OR 97478
      View Details
    • New
      $789,000
      2,780 SF

      Spacious Home with Income-Producing ADU

      4-bedroom home with permitted ADU in Sheldon School District.
      520 Ethan Ct, Springfield, OR 97477
      View Details
    • $799,900
      3,584 SF

      Country Duplex on Acreage

      Duplex with pasture, close to amenities, income potential.
      87851 Cedar Flat Rd, Springfield, OR 97478
      View Details
    • $629,000
      3,604 SF

      Springfield Fourplex with Immediate Income

      Four 2-bedroom units, leased, with new roof and parking.
      1180 R St, Springfield, OR 97477
      View Details
    • $465,000
      1,980 SF

      Townhouse-Style Duplex in Thurston Area

      Duplex in Springfield's Thurston area with investment potential.
      616 S 71St St, Springfield, OR 97478
      View Details
    • $680,000
      1,770 SF

      Restaurant Building in Bustling Area

      1770 SF restaurant building with drive-through and parking.
      774 Main St, Springfield, OR 97477
      View Details
    • $200,000

      Profitable Marijuana Dispensary Opportunity

      Established cannabis dispensary business for sale in Springfield, Oregon.
      Main St, Springfield, OR 97477
      View Details
    • Contact for pricing
      3,339 SF

      Professional Office Building For Sale

      Well-maintained office building suitable for medical or professional use.
      1290 W Centennial Blvd, Springfield, OR 97477
      View Details
    • Contact for pricing
      3,068 SF

      Main Street Corner Building

      Mixed-use corner building on Main Street, suitable for owner-user.
      1908 Main St, Springfield, OR 97477
      View Details
    • $2,100,000
      8,500 SF

      Retail Building Leased to Aaron's

      8,500 SF retail building on 20,909 SF site.
      1991 Olympic St, Springfield, OR 97477
      View Details
    • $850,000
      1,614 SF

      Springfield Main Street Diner

      Landmark Restaurant, Turn-Key Opportunity
      4265 Main St, Springfield, OR 97478
      View Details

    FAQs

    What type of property is this?
    Industrial land - Two HI-zoned industrial parcels totaling 8.56 acres for sale.
    Where is this industrial land located?
    The property is located at 702 S 28Th St Springfield, OR.
    What are key features of this property?
    This property features: - Two HI-zoned industrial parcels totaling 8.56 acres; - Located in an established industrial corridor; - Excellent access to Hwy 126 and I-5
    (541) 484-2214
    Request Owner's contact information
    702 S 28Th St Springfield, OR 97477
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    702 S 28Th St
    Springfield, OR 97477
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    702 S 28Th St Springfield, OR 97477
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Bill Newland
    Bill Newland
    Real Estate License ID: 200812038
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!