Building Details

Year built 1955

Floors in Building 1

Building materials Block, Concrete, MetalFrame

Roof type Flat, Metal

Listing Agency: Tree City Real Estate L***@treecityrealestate.com

Listed By: Lizbeth Abbott Show Phone

Added: Mar 21 Changed: Sep 28 Last Checked: Oct 10 at 9:06AM

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MLS# 762052439

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 0.76-acre flex industrial property includes an approximately 5,944-square-foot building constructed in 1955. The layout combines an open shop with high ceilings, multiple work areas, mezzanine storage, several offices, and 1.5 bathrooms, including a full bathroom with a shower. Two roll-up doors provide direct building access, while an attached secondary shop or garage adds workspace and storage capacity.

Industrial improvements include three-phase power, multiple electrical panels, compressed air infrastructure, a chain hoist, security system, water heater, forced-air heating, and central air. The block, concrete, and metal-frame building sits on a concrete slab beneath a flat metal roof. A fenced yard and on-site parking complement the building.

The property fronts N. Main Street / Highway 51 in Independence’s established industrial corridor and is zoned IH. Its address is 890 N MAIN St, Independence, OR 97351.

Key Highlights

• 0.76‑acre industrial property with an approximately 5,944 SF building
• IH zoning with frontage on N. Main Street / Highway 51
• Open shop, offices, mezzanine storage, and attached secondary shop/garage

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

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.

Property Analytics

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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

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Flexible industrial space with shop, office, mezzanine, and a fenced yard.

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 with an approximately 5,944 SF building; IH zoning with frontage on N. Main Street / Highway 51; Open shop, offices, mezzanine storage, and attached secondary shop/garage