Building Details

Year Built 1955

Construction masonry block and metal

Listing Agency: Tree City Real Estate

Listed By: Lizbeth Abbott Show Phone

Source: Christiesrealestateevg

Added: Jul 20 Changed: Oct 12 Last Checked: Oct 7 at 2:55PM

Report an Issue

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 Tree City Real Estate

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Industrial property offering a flexible layout with a large open shop area, multiple work zones, mezzanine storage, and two roll-up doors for access. Interior features include multiple office spaces and 1.5 bathrooms, including a full bath with shower. The building is supported by industrial utilities such as three-phase power, multiple electrical panels, and existing compressed air infrastructure. Additional improvements include a chain hoist, security system, water heater, and climate control, with construction of masonry block and metal exterior on a concrete slab under a metal roof.

The property sits on busy N. Main Street / Highway 51 in Independence, providing high-visibility frontage within the city’s established industrial corridor. An attached secondary shop/garage adds further storage or workspace, and the site includes a fenced yard plus ample on-site parking.

Key Highlights

• 0.76‑acre industrial property on N. Main St / Highway 51 in Independence with fenced yard and ample on‑site parking
• Approximately 5,944 SF building built in 1955 with masonry block & metal exterior on concrete slab and metal roof
• Large open shop area with high ceilings, multiple work zones, and two roll‑up doors for efficient access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,920

Cap Rate

8.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,138,400 $1.1M

Cap Rate 7%

$813,143 $813.1K

Cap Rate 9%

$632,444 $632.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,944 SF

Gross rent

$85.6K $14.40/SF

− Vacancy

−$4.3K −$0.72/SF

EGI

$81.3K $13.68/SF

− OpEx

−$24.4K −$4.10/SF

NOI

$56.9K $9.58/SF

Area

Polk County, OR

Vacancy

5.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,138,400

Cap Rate 7%

$813,143

Cap Rate 9%

$632,444

Alternative Uses

Best Use

Warehouse

$905.1K

$792.0K – $1.06M (±1% cap)

NOI $63,357 @ 7.0% cap · market cap 9.90%

Second Best

Flex RnD

$871.6K

$762.7K – $1.02M (±1% cap)

NOI $61,014 @ 7.0% cap · market cap 9.53%

Theoretical Best

Office A

$1.58M

$1.38M – $1.84M (±1% cap)

NOI $110,473 @ 7.0% cap · market cap 17.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Tornado Soft Excavation ... General Contractor Maxim Equipment Big Box & Wholesale Store

Suggested Use

Top Pick Dental Office HVAC Service Plumbing Service (Bike/Boat/Book/etc) Store Carpet & Flooring Store Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Heavy power

Yes

Fenced yard

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

128

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 97351, OR

11,292

Population

3,697

Households

3.1

Avg Household Size

34

Median Age

25%

College-Educated

89%

High-School Grad

52.3 sq mi

ZIP Area

216

Density / Sq Mi

$84,717

Median Household Income

$40,990

Median Earnings

$1,592

Median Rent

$357,700

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Similar For Sale Nearby

See more

Four-Unit Quadplex with Laundry Hookups

224 C St, Independence, OR 97351

$799,900

4,320 SF

View details

Four-Unit Quadplex with Parking

80 BOATLANDING St, Independence, OR 97351

$799,900

3,384 SF

View details

Townhome-Style Duplex

1416 Falcon Loop, Independence, OR 97351

$475,000

2,332 SF

View details

Remodeled Coffee Shop with Drive-Through

319 S 10TH St, Independence, OR 97351

$249,900

934 SF

View details

Specialty Property with Patios

141 17th #3 St, Independence, OR 97351

$75,000

960 SF

View details

Independence Oregon Industrial Property

596 Hoffman Rd, Independence, OR 97351

$5,999,999

View details

Restored Mixed-Use Building

144 S Main ST, Independence, OR 97351

$950,000

View details

Frequently Asked Questions

What type of property is this?

Flex space - Industrial building with open shop, mezzanine storage, two roll-up doors, and fenced yard space.

Where is this flex space located?

The property is located at 890 N Main St Independence, OR.

What is the asking price?

The asking price for this property is $639,900.

What are key features of this property?

This property features: 0.76‑acre industrial property on N. Main St / Highway 51 in Independence with fenced yard and ample on‑site parking; Approximately 5,944 SF building built in 1955 with masonry block & metal exterior on concrete slab and metal roof; Large open shop area with high ceilings, multiple work zones, and two roll‑up doors for efficient access