Layton Court Industrial Condo
For Sale
Contact for pricing
SW Layton Ct, Prineville, OR 97754
Modern industrial condo complex near highways and airport in Prineville.
Property Size2,573 SF
Lot Size1.69 Acres
Price / SF$250
Days on Market645
Property Features for SW Layton Ct
General Information
Standard status
Active
Size
2,573 SF
Lot size
1.69 Acres
Property subtype
Industrial
Zoning
M-1 Light industrial
Listing Agency:
Fratzke Commercial Real Estate
(541) 306-4948
Listed By:
Brian Fratzke · License #OR 200402169
Source:
Crexi
Added: Nov 1, 2024
Changed: Jul 10
Last Checked: Jul 10 at 3:43PM
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 Fratzke Commercial Real Estate
Investment Insights
Based on property information with market context.
Layton Court Industrial Condominium Complex is located in Prineville, Oregon's Tom McCall Business Park, near major highways, the airport, and surrounding businesses. The complex features nine condo units for sale within three buildings. The units range from 1,293 to 3,053 square feet and offer efficient floorplans with office space and flexible warehouse areas. Options are available to fit various needs. The complex totals approximately 27,603 square feet on 1.69 acres of M-1 (Light Industrial) zoned land. Tom McCall Business Park is adjacent to Facebook and Apple, and offers infrastructure, city services, and natural gas. The park is home to BTL Liners, Rickabaugh Construction, Lakeside Lumber, Acme Construction Supply and High Desert Golf Carts. Layton Court Industrial Condominium Complex provides access to transportation hubs. The flexibility to combine units allows the complex to meet various business needs. The complex is suitable for start-ups, established companies, and investors.
Key Highlights
- Prime location in Prineville's Tom McCall Business Park, near major highways and the airport.
- Modern industrial condo complex with flexible warehouse and office space.
- Units available ranging from 1,293/RSF to 3,053/RSF, with options to combine units.
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
$35,041
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
5.45%
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%
$700,820
$700.8K
Cap Rate 7%
$500,586
$500.6K
Cap Rate 9%
$389,344
$389.3K
Market Conditions
NOI Build-Up for 2,573 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
$55.6K $21.60/SF
− Vacancy
−$1.7K −$0.65/SF
EGI
$53.9K $20.95/SF
− OpEx
−$18.9K −$7.33/SF
NOI
$35.0K $13.62/SF
Area
Crook County, OR
Vacancy
3.00%
Lease Rate
$21.60 /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%
$700,820
Cap Rate 7%
$500,586
Cap Rate 9%
$389,344
Alternative Uses
Best Use
Flex RnD
$500.6K
$438.0K – $584.0K
NOI $35,041 @ 7.0% cap · market cap 5.45%
Second Best
Warehouse
$412.2K
$360.7K – $480.9K
NOI $28,853 @ 7.0% cap · market cap 4.49%
Theoretical Best
Specialty Retail
$1.11M
$972.6K – $1.30M
NOI $77,808 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 97754, OR
21,627
Population
9,985
Households
2.2
Avg Household Size
46
Median Age
21%
College-Educated
90%
High-School Grad
1,370.6 sq mi
ZIP Area
16
Density / Sq Mi
$76,698
Median Household Income
$42,395
Median Earnings
$1,224
Median Rent
$397,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Modern industrial condo complex near highways and airport in Prineville.
Where is this flex space located?
The property is located at SW Layton Ct Prineville, OR.
What is the asking price?
The asking price for this property is $643,250.
What are key features of this property?
This property features: Prime location in Prineville's Tom McCall Business Park, near major highways and the airport.; Modern industrial condo complex with flexible warehouse and office space.; Units available ranging from 1,293/RSF to 3,053/RSF, with options to combine units.
