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    2700 Pierce Pkwy Springfield, OR 97478
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    2700 Pierce Pkwy Springfield, OR 97478

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    • Commercial real estate
    Off-Market
    Property ID
    US71-0375281
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Marcola Apartment Homes / Apartment Complex

    Property Details for 2700 Pierce Pkwy

    Property type
    Commercial real estate

    Description

    Lease this exceptional 6,000+ square foot retail building with a 2,000+ square foot drive-thru space at The Villages at Marcola Meadows in Springfield, Oregon. Located on a 0.89-acre lot at 2700 Pierce Parkway (zip code 97478), this single-tenant space is situated within a thriving commercial area boasting high visibility and easy accessibility. Construction is anticipated to commence in July 2024, and the space can be delivered as a cold shell, vanilla shell, or built-to-suit. The property benefits from a strong surrounding community, including over 446 single-family homes and 312 multi-family units. Nearby amenities include a US Market convenience store, a future school site (13+ acres), a church site under construction (8+ acres), and a planned 8,000+ square foot medical office building. The development also features extensive walking trails (2,000+ linear feet), multi-use paths (2,400+ linear feet), and ample parking, complemented by 34 parks. This location offers tremendous potential for businesses seeking to capitalize on the growing demand for convenient, quick-service options within a bustling community. The larger development, The Villages at Marcola Meadows, encompasses 100.38 acres, combining 54+ acres of medium-density residential and 45+ acres of mixed-use commercial space. This prime location in Springfield, Oregon, provides easy access to major highways and transportation hubs, ensuring a strong customer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Lane
    State
    Oregon
    Longitude
    -122.9308791
    Latitude
    44.0457065

    Comparable in this City

    • Contact for pricing

      Springfield Shopping Center Retail Space

      Retail spaces available in a busy Springfield shopping center.
      4223 Main St, Springfield, OR 97478
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      3,200 SF

      Springfield Retail Space Available

      Retail property available for lease in Springfield, Oregon.
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    • $0.75 SF/Yr
      9,660 SF

      Flex Space with Fenced Yard

      Flex space featuring showroom, office, and loading doors.
      697 S 34Th St, Springfield, OR 97478
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      Springfield Flex/Industrial/Office Space Available

      Class A space with I-105 and I-5 access.
      5250 Highbanks Rd, Springfield, OR 97478
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      4,000 SF

      Springfield Warehouse Space Available

      4,000 SF warehouse space for lease in Springfield, Oregon.
      419 S 28Th St, Springfield, OR 97478
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      11,546 SF

      Springfield Flex Space For Rent

      Flex space and industrial property available for lease in Springfield.
      3400 Main St, Springfield, OR 97478
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    Similar Nearby for Sale

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    Similar Nearby for Lease

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      3,200 SF

      Springfield Retail Space Available

      Retail property available for lease in Springfield, Oregon.
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    • Contact for pricing

      Springfield Shopping Center Retail Space

      Retail spaces available in a busy Springfield shopping center.
      4223 Main St, Springfield, OR 97478
      View Details
    • $0.75 SF/Yr
      9,660 SF

      Flex Space with Fenced Yard

      Flex space featuring showroom, office, and loading doors.
      697 S 34Th St, Springfield, OR 97478
      View Details
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      11,546 SF

      Springfield Flex Space For Rent

      Flex space and industrial property available for lease in Springfield.
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      View Details
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      3,300 SF

      Springfield Warehouse Space Available

      3,300 SF warehouse space for lease in Springfield, Oregon.
      630 30Th St, Springfield, OR 97478
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      17,000 SF

      Industrial Space Available For Lease

      17,000 SF industrial space available for lease.
      1319 36Th St, Springfield, OR 97478
      View Details
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    Springfield, OR 97478
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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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