Three-Building Mixed-Use
For Sale
Contact for pricing
1309 Ferry St SE, Salem, OR 97301
Three buildings on neighboring parcels support a range of mixed-use occupancy configurations under Mixed Use I zoning.
Property Size55,481 SF
Lot Size2.04 Acres
Price / SF$136.26
Days on Market192
Property Features for 1309 Ferry St SE
General Information
Standard status
Active
Size
55,481 SF
Lot size
2.04 Acres
Property subtype
Land, Mixed Use, Office, Retail
Zoning
Mixed Use I
Building Details
Buildings
3
Listing Agency:
Hancock Real Estate
Listed By:
Terry Hancock · License #OR 200110013
(503) 371-1234
Source:
Crexi
Added: Apr 8
Changed: Oct 6
Last Checked: Oct 14 at 9:11PM
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 Hancock Real Estate
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Investment Insights
Based on property information with market context.
This mixed-use property comprises three buildings with a combined 55,481 square feet of improvements. The buildings occupy neighboring parcels totaling 2.04 acres and are governed by Mixed Use I zoning.
Located at 1309 Ferry St SE in Salem, the property is positioned in the city’s central area. The campus-style arrangement provides a substantial existing commercial footprint across multiple buildings, with the parcel configuration and zoning forming the primary defining characteristics of the offering.
Located at 1309 Ferry St SE in Salem, the property is positioned in the city’s central area. The campus-style arrangement provides a substantial existing commercial footprint across multiple buildings, with the parcel configuration and zoning forming the primary defining characteristics of the offering.
Key Highlights
- Three buildings totaling 55,481 SF
- Neighboring parcels comprise 2.04 acres
- Mixed Use I zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$605,853
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,117,060
$12.1M
Cap Rate 7%
$8,655,043
$8.7M
Cap Rate 9%
$6,731,700
$6.7M
Market Conditions
NOI Build-Up for 55,481 SF
Gross rent
$1.07M $19.20/SF
− Vacancy
−$95.9K −$1.73/SF
EGI
$969.4K $17.47/SF
− OpEx
−$363.5K −$6.55/SF
NOI
$605.9K $10.92/SF
Area
Salem, OR
Vacancy
9.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,117,060
Cap Rate 7%
$8,655,043
Cap Rate 9%
$6,731,700
Alternative Uses
Best Use
Office B
$10.91M
$9.55M – $12.73M
NOI $763,973 @ 7.0% cap · market cap 10.11%
Second Best
Mixed Use
$8.66M
$7.57M – $10.10M
NOI $605,853 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$14.73M
$12.89M – $17.19M
NOI $1,031,148 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,770
Businesses Nearby
Explore this area
Business Placement
Demographics for 97301, OR
56,393
Population
21,419
Households
2.6
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
11.3 sq mi
ZIP Area
4,991
Density / Sq Mi
$57,497
Median Household Income
$33,220
Median Earnings
$1,197
Median Rent
$310,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three buildings on neighboring parcels support a range of mixed-use occupancy configurations under Mixed Use I zoning.
Where is this mixed-use property located?
The property is located at 1309 Ferry St SE Salem, OR.
What is the asking price?
The asking price for this property is $7,560,000.
What are key features of this property?
This property features: Three buildings totaling 55,481 SF; Neighboring parcels comprise 2.04 acres; Mixed Use I zoning
