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    Property profile & analytics

    2354 Industrial Ave Hubbard, OR 97032

    • Warehouses
    • 10,080 SF
    • 0.70 lot acres
    OFF-MARKET
    Value Estimations
    $3,115,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-1591227
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 2354 Industrial Ave

    Year built
    2017
    Lot size
    0.70 lot acres
    Property size
    10,080 SF
    Zone code
    I
    Property type
    Warehouses
    APN
    041W33DD01101
    APU
    041W33DD01101

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,115,000
      Market price range: $1.18M - $3.12M
      AI Estimate
      $3,115,000
      Market price range: $1.18M - $3.12M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,940,000
      Current use
      AUTO REPAIR, GARAGE
      $3,600,000
      Change: +86% Conversion: Easy
      MEDICAL BUILDING
      $3,240,000
      Change: +67% Conversion: Difficult
      RESTAURANT
      $3,065,000
      Change: +58% Conversion: Difficult
      OFFICE BUILDING
      $2,755,000
      Change: +42% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,010,000
      Change: +4% Conversion: Difficult
      RETAIL STORES
      $1,990,000
      Change: +3% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hubbard
    County
    Marion
    State
    Oregon
    Longitude
    -122.809
    Latitude
    45.1729
    CBSA code
    41420
    CBSA name
    SALEM, OR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,693
    $0.00
    $0.00
    $980,530
    -
    $114,330
    $1,376,690
    $1,491,020

    Comparable in this City

    • Value Estimation
      $1,800,000
      15,400 SF

      2893 D St

      WAREHOUSE, STORAGE • 15,400 SF
      2893 D St, Hubbard, OR 97032-9307
      View Details
    • Value Estimation
      $4,760,000
      15,400 SF

      3070 Schmidt Ln

      MINI-WAREHOUSE, STORAGE • 15,400 SF
      3070 Schmidt Ln, Hubbard, OR 97032-9806
      View Details
    • Value Estimation
      $530,000
      1,728 SF

      2625 Pacific Hwy 99th NE

      WAREHOUSE, STORAGE • 1,728 SF
      2625 Pacific Hwy 99th NE, Hubbard, OR 97032
      View Details
    • Value Estimation
      $630,000
      3,200 SF

      3761 2nd St

      WAREHOUSE, STORAGE • 3,200 SF
      3761 2nd St, Hubbard, OR 97032-9559
      View Details
    • Value Estimation
      $7,380,000
      30,736 SF

      17802 Shank NE Rd

      MINI-WAREHOUSE, STORAGE • 30,736 SF
      17802 Shank NE Rd, Hubbard, OR 97032-8904
      View Details
    • Value Estimation
      $4,730,000
      15,300 SF

      4215 Pacific Hwy99e

      MINI-WAREHOUSE, STORAGE • 15,300 SF
      4215 Pacific Hwy99e, Hubbard, OR 97032-9794
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Highway 99E Commercial Opportunity

      1.12 acre property with retail/warehouse space and shop buildings.
      18797 Highway 99E NE, Hubbard, OR 97032
      View Details
    • Contact for pricing

      Hubbard Industrial Investment Opportunity

      Rare industrial property with three buildings and value-add potential.
      17804 Shank Rd Northeast, Hubbard, OR 97032
      View Details
    • $825,000

      Highway Frontage Industrial/Commercial Land

      Industrial/commercial zoned land between Salem and Portland with highway frontage.
      18767 Highway 99E, Hubbard, OR 97032
      View Details
    • $3,275,000
      85,695 SF

      Lenhardt Airpark: Prime Aviation Investment

      Established Oregon Airport, strong lease income.
      29502 Meridian Rd, Hubbard, OR 97032
      View Details
    • Contact for pricing

      Hubbard Aviation Property For Sale

      26.19 acre aviation property with 3,200 FT runway.
      29502 S Meridian Rd, Hubbard, OR 97032
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Suites Sublease Opportunity

      Industrial suites available for sublease with convenient location.
      Hubbard, OR 97032
      View Details
    • Contact for pricing
      6,250 SF

      Highway 99 Commercial Flex Space

      Commercial flex space with frontage on Highway 99.
      3884 Pacific Hwy, Hubbard, OR 97032
      View Details
    • Contact for pricing
      48,750 SF

      Hubbard Industrial Park Space Available

      Industrial space for lease in Marion County, near Portland.
      2834 Industrial Ave, Hubbard, OR 97032
      View Details
    • $0.90 SF/Yr
      48,750 SF

      Industrial Space Near Highway 99E

      Industrial/warehouse space with easy access to Hwy 99E and I-5.
      Hubbard, OR 97032
      View Details
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    2354 Industrial Ave
    Hubbard, OR 97032
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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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