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    Stryker Rd Independence, OR 97351
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    Stryker Rd Independence, OR 97351

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    • Land
    • 12.37 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Stryker Rd

    Lot size
    12.37 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 12.37-acre parcel of land presents a rare opportunity for industrial development in Polk County, Oregon. Located in Independence, Oregon, with convenient access to Highway 51 and Highway 99, this property boasts a Heavy Industrial (IH) zoning designation. The three combined lots represent some of the last remaining developable land in the area, offering significant potential for a variety of industrial uses. Permitted uses under the IH zoning include, but are not limited to, metals and primary manufacturing facilities, machinery manufacturing, transportation equipment manufacturing and repair, wood and lumber product facilities, wind energy systems, meteorological towers, and photovoltaic systems (excluding commercial power generation). Additional conditional uses permitted in a Light Industrial (IL) zone may also be applicable. The property is listed at $2,694,186, reflecting a price of $5.00 per square foot, but offers are welcome. Detailed zoning information can be found at the Polk County website (link provided in original listing). This is a unique opportunity to acquire a substantial industrial site in a well-established area with excellent transportation links. The property's size and zoning make it ideal for large-scale industrial projects. Its strategic location provides easy access to major transportation arteries, facilitating efficient logistics and distribution. This is a highly sought-after location for industrial development, making this a compelling investment opportunity. The asking price reflects the rarity and potential of this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Polk
    State
    Oregon
    Longitude
    -123.191
    Latitude
    44.8686

    Comparable in this City

    • Value Estimation by Request
      4,620 SF

      290 G St

      INDUSTRIAL (GENERAL) • 4,620 SF
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    • Value Estimation
      $890,000
      7,920 SF

      895 Main St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 7,920 SF
      895 Main St, Independence, OR 97351-2507
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    • Value Estimation by Request
      31.15 Acres

      9650 Hoffman Rd

      Farms • 3,051 SF
      9650 Hoffman Rd, Independence, OR 97351
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    • Value Estimation by Request
      10 SF

      625 Hoffman Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 10 SF
      625 Hoffman Rd, Independence, OR 97351-9805
      View Details
    • Value Estimation
      $2,260,000
      25,930 SF

      1595 Stryker Rd

      INDUSTRIAL (GENERAL) • 25,930 SF
      1595 Stryker Rd, Independence, OR 97351-1824
      View Details
    • Value Estimation by Request
      10 SF

      4705 Independence Hwy

      INDUSTRIAL (GENERAL) • 10 SF
      4705 Independence Hwy, Independence, OR 97351
      View Details

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    • $1,000,000
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    Independence, OR 97351
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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