Medical Office Building with
For Sale
$699,900
711 W Main St, Sheridan, OR 97378
Single-level commercial facility with offices, treatment-ready rooms, specialty plumbing, and an additional rentable area.
Property Size2,667 SF
Price / SF$131.98
Days on Market329
Property Features for 711 W Main St
General Information
Standard status
Active
Size
2,667 SF
Net Rentable
2,636 SF
Total Parking Spaces
17
Property subtype
Commercial
Zoning
COMM
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$5,786
Amenities
reception area
private offices/exam rooms
full bath
half bath
laundry room
break room
central area
built-in storage
dog kennels
fenced enclosure
storage building
Building Details
Building Size
2,667 SF
Year Built
2003
Buildings
2
Stories
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Professional
(503) 434-0472
Listed By:
Kim Greene · License #980400051
(503) 434-0472
Source:
Metanars
Added: Sep 17, 2025
Changed: Aug 10
Last Checked: Aug 10 at 3:02AM
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 Coldwell Banker Professional
Investment Insights
Based on property information with market context.
Built in 2003, this 2,667-square-foot medical office facility provides a single-level layout with a reception area, multiple private offices or exam rooms, full and half baths, laundry, break room, and a central meeting or collaboration area. Built-in cabinetry and shelving are distributed throughout, while five solid dog kennels remain in place. Building systems include a gas furnace, heat pump, gas water heater, gutters and downspouts, 220 power, and plumbing in several areas for sinks or specialty applications.
The sale also includes approximately 2,636 square feet of rentable space currently used by a grooming business. That area has updated flooring, a remodeled bathroom, and replacement windows. Exterior improvements include approximately 17 front parking spaces, paved tandem parking at the rear, a fenced enclosure, a small storage building, required landscaping, and three driveway entrances. The property is zoned COMM and sits at 711 W Main St in Sheridan, Oregon.
The sale also includes approximately 2,636 square feet of rentable space currently used by a grooming business. That area has updated flooring, a remodeled bathroom, and replacement windows. Exterior improvements include approximately 17 front parking spaces, paved tandem parking at the rear, a fenced enclosure, a small storage building, required landscaping, and three driveway entrances. The property is zoned COMM and sits at 711 W Main St in Sheridan, Oregon.
Key Highlights
- 2,667sf single‑level medical office building constructed in 2003
- Approximately 2,636sf of additional rentable space used by a grooming business
- Five solid dog kennels, built‑in storage, private rooms, reception, laundry, and break areas
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
$39,732
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
5.68%
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%
$794,640
$794.6K
Cap Rate 7%
$567,600
$567.6K
Cap Rate 9%
$441,467
$441.5K
Market Conditions
NOI Build-Up for 5,303 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
$70.0K $13.20/SF
− Vacancy
−$3.8K −$0.71/SF
EGI
$66.2K $12.49/SF
− OpEx
−$26.5K −$4.99/SF
NOI
$39.7K $7.49/SF
Area
Yamhill County, OR
Vacancy
5.40%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
40.00%
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%
$794,640
Cap Rate 7%
$567,600
Cap Rate 9%
$441,467
Alternative Uses
Best Use
Office B
$980.7K
$858.1K – $1.14M
NOI $68,646 @ 7.0% cap · market cap 9.81%
Second Best
Healthcare Medical
$567.6K
$496.7K – $662.2K
NOI $39,732 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,199 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97378, OR
9,195
Population
2,891
Households
3.2
Avg Household Size
41
Median Age
15%
College-Educated
88%
High-School Grad
116.7 sq mi
ZIP Area
79
Density / Sq Mi
$80,680
Median Household Income
$37,009
Median Earnings
$1,078
Median Rent
$341,200
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?
Medical Office Space - Single-level commercial facility with offices, treatment-ready rooms, specialty plumbing, and an additional rentable area.
Where is this medical office space located?
The property is located at 711 W Main St Sheridan, OR.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 2,667sf single‑level medical office building constructed in 2003; Approximately 2,636sf of additional rentable space used by a grooming business; Five solid dog kennels, built‑in storage, private rooms, reception, laundry, and break areas
