Warehouse with Active Railroad
For Sale
Contact for pricing
73541 HWY 331, Pendleton, OR 97801
6,000 SF warehouse with active rail access for sale.
Property Size6,000 SF
Lot Size5.00 Acres
Price / SF$95.83
Days on Market806
Property Features for 73541 HWY 331
General Information
Standard status
Active
Size
6,000 SF
Lot size
5.00 Acres
Property subtype
Industrial, Land, Mixed Use, Self Storage, Special Purpose
Zoning
AG-4
Investment Type
Owner/User
Building Details
Year Built
1940
Buildings
3
Units
1
Listing Agency:
Oregon Trail Realty
Listed By:
Candy Bowman · License #970900258
Source:
Crexi
Added: May 28, 2024
Changed: Aug 8
Last Checked: Aug 8 at 2:35PM
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 Trail Realty
Investment Insights
Based on property information with market context.
This 6,000 square foot warehouse is available for sale or lease. It features a flat roof, concrete floor, and an active 1/4 mile railroad spur. Three-phase electricity is available. The property offers easy access from I-84. It is located in a rural area near a friendly community and is zoned AG-4 Agri Business. The property is situated on five acres alongside the main railroad spur. It is located on Tribal Land. The warehouse is suitable for logistics, distribution, manufacturing, or storage, offering a great opportunity for growth and efficiency for businesses requiring direct rail access.
Key Highlights
- Active 1/4 Mile Railroad Spur
- 6,000 Sq Ft Warehouse with Concrete Floor
- Easy Access from I‑84
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
$42,962
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
7.47%
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%
$859,240
$859.2K
Cap Rate 7%
$613,743
$613.7K
Cap Rate 9%
$477,356
$477.4K
Market Conditions
NOI Build-Up for 6,000 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
$54.0K $9.00/SF
− Vacancy
−$3.5K −$0.58/SF
EGI
$50.5K $8.42/SF
− OpEx
−$7.6K −$1.26/SF
NOI
$43.0K $7.16/SF
Area
Umatilla County, OR
Vacancy
6.40%
Lease Rate
$9.00 /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%
$859,240
Cap Rate 7%
$613,743
Cap Rate 9%
$477,356
Alternative Uses
Best Use
Warehouse
$613.7K
$537.0K – $716.0K
NOI $42,962 @ 7.0% cap · market cap 7.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $87,921 @ 7.0% cap · market cap 15.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97801, OR
21,882
Population
9,033
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
92%
High-School Grad
496.2 sq mi
ZIP Area
44
Density / Sq Mi
$73,308
Median Household Income
$38,719
Median Earnings
$924
Median Rent
$277,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Northwest Grain Growers — Pendleton, OR 97801
Frequently Asked Questions
What type of property is this?
Warehouse - 6,000 SF warehouse with active rail access for sale.
Where is this warehouse located?
The property is located at 73541 HWY 331 Pendleton, OR.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Active 1/4 Mile Railroad Spur; 6,000 Sq Ft Warehouse with Concrete Floor; Easy Access from I‑84
