Gated Flex Space with Dual
For Sale
$895,000
85340 HIGHWAY 101, Florence, OR 97439
CommercialSale, Florence, OR
Property Size2,736 SF
Lot Size1.29 Acres
Price / SF$327.12
Days on Market30
Property Features for 85340 HIGHWAY 101
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RC
Directions
1 Mile South Florence bridge on Hwy 101 entry just passed Sandland Adventure on the R
Subdivision
_231
Standard status
Active
APN
0859676
Size
2,736 SF
Lot size
1.29 Acres
Taxes and HOA fees
Tax Description
19-12-03-10-01000
Tax Annual Amount
1888
Legal Description
19-12-03-10-01000
Building Details
Year built
1993
Floors in Building
2
Building materials
MetalFrame, MetalSiding
Roof type
Metal
Listing Agency:
TR Hunter Real Estate
(541) 997-1200
Listed By:
Vanessa Buss · License #201260194
(541) 991-0478
Added: Jul 28
Changed: Aug 25
Last Checked: Aug 26 at 2:06AM
MLS# 688278178
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,736-square-foot flex property includes an oversized main shop with a restroom and a second garage equipped with two garage doors. The buildings are configured for separated work, storage, or operating areas, with a looping driveway and secured gated entry. Metal framing, metal siding, and a metal roof support the improvements, which were built in 1993.
The property encompasses 1.29 acres along Highway 101 in Florence, Oregon, with a private setting near the Oregon Dunes. RC zoning is identified for the site. The open layout and dual-building arrangement provide space for contractor operations, equipment storage, workshop activity, light industrial use, fleet storage, or other business applications subject to applicable approvals.
The property encompasses 1.29 acres along Highway 101 in Florence, Oregon, with a private setting near the Oregon Dunes. RC zoning is identified for the site. The open layout and dual-building arrangement provide space for contractor operations, equipment storage, workshop activity, light industrial use, fleet storage, or other business applications subject to applicable approvals.
Key Highlights
- 2,736 SF flex property on 1.29 acres
- Main shop includes its own restroom
- Second garage has 2 garage doors
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
$31,426
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
3.51%
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%
$628,520
$628.5K
Cap Rate 7%
$448,943
$448.9K
Cap Rate 9%
$349,178
$349.2K
Market Conditions
NOI Build-Up for 2,736 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
$51.9K $18.96/SF
− Vacancy
−$3.5K −$1.29/SF
EGI
$48.3K $17.67/SF
− OpEx
−$16.9K −$6.18/SF
NOI
$31.4K $11.49/SF
Area
Lane County, OR
Vacancy
6.80%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
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%
$628,520
Cap Rate 7%
$448,943
Cap Rate 9%
$349,178
Alternative Uses
Best Use
Flex RnD
$448.9K
$392.8K – $523.8K
NOI $31,426 @ 7.0% cap · market cap 3.51%
Second Best
Warehouse
$286.4K
$250.6K – $334.2K
NOI $20,051 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$692.2K
$605.7K – $807.5K
NOI $48,452 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97439, OR
15,634
Population
9,056
Households
1.7
Avg Household Size
62
Median Age
27%
College-Educated
92%
High-School Grad
168.3 sq mi
ZIP Area
93
Density / Sq Mi
$58,576
Median Household Income
$36,146
Median Earnings
$1,164
Median Rent
$364,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two structures provide separate shop and garage areas for storage, workshop, or business operations.
Where is this flex space located?
The property is located at 85340 HIGHWAY 101 Florence, OR.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 2,736 SF flex property on 1.29 acres; Main shop includes its own restroom; Second garage has 2 garage doors
