Industrial Property with Office
For Sale
Contact for pricing
2221 Yew St, Forest Grove, OR 97116
Industrial property featuring office, manufacturing, and storage spaces for sale.
Property Size11,921 SF
Lot Size0.96 Acres
Price / SF$124.15
Days on Market1198
Property Features for 2221 Yew St
General Information
Standard status
Active
Size
11,921 SF
Class
C
Lot size
0.96 Acres
Property subtype
Industrial
Zoning
GI
Building Details
Year Built
2000
Buildings
2
Stories
1
Listing Agency:
Fuller Group
Listed By:
Steven Hunker, CCIM · License #OR #201207305
(503) 367-0516
Source:
Crexi
Added: May 25, 2023
Changed: Aug 26
Last Checked: Sep 3 at 1:00PM
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 Fuller Group
Investment Insights
Based on property information with market context.
This commercial property features a 0.96-acre (41,900 SF) lot with 10,963 SF of improvements. The front building, totaling 3,263 SF, includes office space and associated storage. The back building, comprising 7,700 SF, offers light manufacturing space, grade-level garage space, and offices. A large parking lot is available. The property is located within blocks of Hwy 8 and is next door to Zesti Food Carts.
Key Highlights
- Large .96 AC (41,900 SF) lot size.
- Substantial 10,963 SF of total improvements.
- Excellent location within blocks of Hwy 8.
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
$131,107
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
8.86%
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%
$2,622,140
$2.6M
Cap Rate 7%
$1,872,957
$1.9M
Cap Rate 9%
$1,456,744
$1.5M
Market Conditions
NOI Build-Up for 11,921 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
$214.6K $18.00/SF
− Vacancy
−$12.9K −$1.08/SF
EGI
$201.7K $16.92/SF
− OpEx
−$70.6K −$5.92/SF
NOI
$131.1K $11.00/SF
Area
Washington County, OR
Vacancy
6.00%
Lease Rate
$18.00 /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%
$2,622,140
Cap Rate 7%
$1,872,957
Cap Rate 9%
$1,456,744
Alternative Uses
Best Use
Flex RnD
$1.87M
$1.64M – $2.19M
NOI $131,107 @ 7.0% cap · market cap 8.86%
Second Best
Industrial
$1.07M
$935.3K – $1.25M
NOI $74,822 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$3.22M
$2.82M – $3.75M
NOI $225,244 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97116, OR
29,351
Population
10,229
Households
2.9
Avg Household Size
36
Median Age
33%
College-Educated
90%
High-School Grad
82.1 sq mi
ZIP Area
358
Density / Sq Mi
$87,308
Median Household Income
$42,330
Median Earnings
$1,397
Median Rent
$479,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Commissary Mister Pique — 81 N 11th Ave, Cornelius, OR 97113
- Zesti food carts — 2131 Yew St, Forest Grove, OR 97116
Frequently Asked Questions
What type of property is this?
Flex space - Industrial property featuring office, manufacturing, and storage spaces for sale.
Where is this flex space located?
The property is located at 2221 Yew St Forest Grove, OR.
What is the asking price?
The asking price for this property is $1,480,000.
What are key features of this property?
This property features: Large .96 AC (41,900 SF) lot size.; Substantial 10,963 SF of total improvements.; Excellent location within blocks of Hwy 8.
