Building Details

Year Built 1990

Buildings 1

Listing Agency: Evans, Elder Brown & Seubert

Listed By: Jeff Elder · License #OR Show Phone

Source: Crexi

Added: May 22 Changed: Oct 8 Last Checked: Oct 19 at 6:16AM

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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 Evans, Elder Brown & Seubert

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Investment Insights

Based on property information with market context.

This industrial building in Coburg North Condominiums features office, production, and warehouse components with a metal mezzanine over the warehouse area. The warehouse space includes multiple drive-in loading doors, gas heaters, and LED lighting with a 24’ ceiling height at the eaves. Office improvements include multiple private offices, conference rooms, and restrooms, along with heating and air conditioning. The production area supports higher-clearance operations with 20’ ceilings and heating and air conditioning.

The offering is listed as Coburg North Condominiums Unit 11, and includes approximately 15,000 square feet of mezzanine area within the warehouse. Electrical service is noted as 277 volt, 3-phase power.

Overall, the layout combines functional office space with sizable warehouse and production areas designed to support day-to-day industrial operations and internal storage or workflow within the mezzanine.

Key Highlights

• 78,952 SF industrial building on 1.82 acres with office, production, warehouse, and ~15,000 SF mezzanine area
• Warehouse includes 9 drive‑in loading doors plus 24’ ceiling height at the eaves and gas heaters
• Production area features 20’ ceilings and LED lighting, totaling 16,046 SF with restrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$578,616

Cap Rate

6.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$11,572,320 $11.6M

Cap Rate 7%

$8,265,943 $8.3M

Cap Rate 9%

$6,429,067 $6.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 78,952 SF

Gross rent

$710.6K $9.00/SF

− Vacancy

−$29.8K −$0.38/SF

EGI

$680.7K $8.62/SF

− OpEx

−$102.1K −$1.29/SF

NOI

$578.6K $7.33/SF

Area

Lane County, OR

Vacancy

4.20%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$11,572,320

Cap Rate 7%

$8,265,943

Cap Rate 9%

$6,429,067

Alternative Uses

Best Use

Flex RnD

$12.95M

$11.34M – $15.11M (±1% cap)

NOI $906,840 @ 7.0% cap · market cap 9.97%

Second Best

Warehouse

$8.27M

$7.23M – $9.64M (±1% cap)

NOI $578,616 @ 7.0% cap · market cap 6.36%

Theoretical Best

Office A

$19.97M

$17.48M – $23.30M (±1% cap)

NOI $1,398,170 @ 7.0% cap · market cap 15.36%

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

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Building Supply Furniture & Home Goods Bakery Nail Salon Veterinary Clinic

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

Location Intelligence

Trade Area within ½ mile

158

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 97408, OR

14,655

Population

6,585

Households

2.2

Avg Household Size

44

Median Age

49%

College-Educated

96%

High-School Grad

49.8 sq mi

ZIP Area

294

Density / Sq Mi

$102,063

Median Household Income

$47,280

Median Earnings

$1,731

Median Rent

$535,300

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

Frequently Asked Questions

What type of property is this?

Flex space - Industrial building offers warehouse space with private offices, drive-in loading doors, and a metal mezzanine.

Where is this flex space located?

The property is located at 91230 Coburg Industrial Way Coburg, OR.

What is the asking price?

The asking price for this property is $9,100,000.

What are key features of this property?

This property features: 78,952 SF industrial building on 1.82 acres with office, production, warehouse, and ~15,000 SF mezzanine area; Warehouse includes 9 drive‑in loading doors plus 24’ ceiling height at the eaves and gas heaters; Production area features 20’ ceilings and LED lighting, totaling 16,046 SF with restrooms