Two-Tenant Industrial
905 N Main Street, Independence, OR 97351
For Sale
Contact for pricing
Both occupants serve the Mid-Willamette Valley dairy industry under NNN leases.
Property Size14,160 SF
Lot Size0.81 Acres
Price / SF$162.43
Days on Market30
Property Features for 905 N Main Street
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Additional Details
Tenant in Place
Property Use
Building Details
Buildings
Building Size
Tenancy
Listing Agency:
Westover Industrial Partners
Listed By:
Matson Kane · License OR #201261826
Source:
Crexi
Added: Oct 13
Changed: Nov 10
Last Checked: Nov 10 at 8:19AM
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 Westover Industrial Partners
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Investment Insights
Based on property information with market context.
This 14,160-square-foot industrial property occupies 0.81 acres in Independence, Oregon. It has two tenants: Crystal Creek LLC and Pacific Northwest Creamery LLC, businesses serving the Mid-Willamette Valley dairy industry. The building is fully leased on NNN terms.
Lease terms provide for 3% annual rent increases, and each tenant has three renewal options of five years apiece.
Lease terms provide for 3% annual rent increases, and each tenant has three renewal options of five years apiece.
Key Highlights
- 14,160‑square‑foot industrial building on 0.81 acres
- Fully occupied by two tenants under NNN leases
- Crystal Creek LLC and Pacific Northwest Creamery LLC serve the Mid‑Willamette Valley dairy industry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$135,596
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,711,920
$2.7M
Cap Rate 7%
$1,937,086
$1.9M
Cap Rate 9%
$1,506,622
$1.5M
Market Conditions
NOI Build-Up for 14,160 SF
Gross rent
$203.9K $14.40/SF
− Vacancy
−$10.2K −$0.72/SF
EGI
$193.7K $13.68/SF
− OpEx
−$58.1K −$4.10/SF
NOI
$135.6K $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%
$2,711,920
Cap Rate 7%
$1,937,086
Cap Rate 9%
$1,506,622
Alternative Uses
Best Use
Industrial
$1.94M
$1.69M – $2.26M
NOI $135,596 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.76M
$3.29M – $4.39M
NOI $263,172 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
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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
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Industrial property - Both occupants serve the Mid-Willamette Valley dairy industry under NNN leases.
Where is this industrial property located?
The property is located at 905 N Main Street Independence, OR.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 14,160‑square‑foot industrial building on 0.81 acres; Fully occupied by two tenants under NNN leases; Crystal Creek LLC and Pacific Northwest Creamery LLC serve the Mid‑Willamette Valley dairy industry
