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    Property profile & analytics

    905 Main St Sta, Unit A Independence, OR 97351-2505

    • Industrial properties
    • 14,400 SF
    • 0.81 lot acres
    OFF-MARKET
    Last Sale
    Sep 30, 2024
    $1,390,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0229395
    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

    • Industrial properties

    Property Details for 905 Main St Sta

    Year built
    1969
    Lot size
    0.81 lot acres
    Property size
    14,400 SF
    Zone code
    IL
    Property type
    Industrial properties
    APN
    08421-B0-02500
    APU
    08421B002500

    Description

    This single-tenant industrial property, located at 905 N Main St in Independence, Oregon (zip code 97351), offers 14,160 square feet of versatile space ideal for manufacturing, warehousing, or research and development. Built in 1969 and renovated in 2016, the property boasts a 19-foot ceiling height and features three drive-in doors for convenient loading and unloading. The 0.81-acre lot provides ample space for operations and includes frontage on Highway 51, offering excellent visibility and accessibility. The building is a Class C, single-story structure with 600 Amp, 240V, 3-phase power. The property is conveniently located just 20 minutes west of Interstate 5, providing easy access to major transportation routes. Property taxes are $10.76 per square foot. The entire 14,160 square feet is currently vacant and ready for immediate occupancy. This presents a unique opportunity to acquire a well-maintained industrial property in a strategic location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Polk
    State
    Oregon
    Longitude
    -123.184
    Latitude
    44.8623
    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
    $12,707
    $35,900
    $628,240
    $664,140
    -
    $198,110
    $1,192,210
    $1,390,320

    Comparable in this City

    • Value Estimation
      $350,000
      10 SF

      625 Hoffman Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 10 SF
      625 Hoffman Rd, Independence, OR 97351-9805
      View Details
    • Value Estimation
      $700,000
      25,930 SF

      1595 Stryker Rd

      INDUSTRIAL (GENERAL) • 25,930 SF
      1595 Stryker Rd, Independence, OR 97351-1824
      View Details
    • Value Estimation
      $275,000
      10 SF

      4705 Independence Hwy

      INDUSTRIAL (GENERAL) • 10 SF
      4705 Independence Hwy, Independence, OR 97351
      View Details
    • Value Estimation
      $310,000
      10 SF

      Independence, OR 97351

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 10 SF
      Independence, OR 97351
      View Details
    • Value Estimation
      $245,000
      10 SF

      900 F St

      INDUSTRIAL (GENERAL) • 10 SF
      900 F St, Independence, OR 97351-1529
      View Details
    • Value Estimation
      $920,000
      13,125 SF

      915 Main St, Unit 2

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 13,125 SF
      915 Main St, Independence, OR 97351-2505
      View Details

    Similar Nearby for Sale

    • $5,999,999
      17 SF

      Independence Oregon Industrial Property

      Industrial property with development potential in Independence, Oregon.
      596 Hoffman Rd, Independence, OR 97351
      View Details
    • $1,000,000
      5,150 SF

      OR. This historic property

      known for housing Main Street Antiques
      144 Main St, Independence, OR 97351
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    • $495,000
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      Historic Independence Office Duo

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    • $1,050,000
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      Historic "Belt Building" For Sale

      Iconic, renovated mixed-use building in downtown Independence, Oregon.
      144 S Main St, Independence, OR 97351
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    • $1,000,000
      5,150 SF

      OR. This historic property

      known for housing Main Street Antiques
      Independence, OR 97351
      View Details
    • $895,000
      2,750 SF

      Iconic Independence Retail Building

      Historic Charm, Multi-Tenant, High ROI
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      View Details
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    Independence, OR 97351-2505
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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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