Fenced Flex Space
For Sale
$1,730,000
3620 Mainline Dr NE, Salem, OR 97301
IG-zoned flex property combines industrial space, a detached office, residential units, and secured outdoor areas.
Property Size4,250 SF
Price / SF$407.06
Days on Market66
Property Features for 3620 Mainline Dr NE
General Information
Standard status
Active
Size
4,250 SF
Zoning
IG
Additional Details
Fenced Yard
Yes
Three-Phase Power
Yes
Building Details
Year Built
1986
Listing Agency:
Real Broker
Listed By:
Christine Folz · License #201204657
(855) 450-0442
Source:
Christiesrealestateevg
Added: Aug 5
Changed: Sep 12
Last Checked: Oct 7 at 1:58PM
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 Real Broker
Investment Insights
Based on property information with market context.
Located at 3620 Mainline Dr NE in Salem, Oregon, this 4,250-square-foot flex property was built in 1986 and carries IG zoning. The improvements include an industrial building, a detached office, and several residential units comprising a duplex and a house. Industrial features include forced-air heat, 3-phase power, and air piping. The separate office has a mini-split system and a bathroom.
The site is fully fenced with a rolling gate. An adjacent .21-acre paved lot with a transfer loading dock is also identified with the property. The combination of industrial, office, and residential improvements creates a mixed-use physical configuration for an owner-user or investor.
The site is fully fenced with a rolling gate. An adjacent .21-acre paved lot with a transfer loading dock is also identified with the property. The combination of industrial, office, and residential improvements creates a mixed-use physical configuration for an owner-user or investor.
Key Highlights
- 4,250‑square‑foot flex property on 3620 Mainline Dr NE
- IG zoning with industrial, office, and residential improvements
- Industrial building includes forced‑air heat, 3‑phase power, and air piping
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,523
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,170,460
$1.2M
Cap Rate 7%
$836,043
$836.0K
Cap Rate 9%
$650,256
$650.3K
Market Conditions
NOI Build-Up for 4,250 SF
Gross rent
$91.8K $21.60/SF
− Vacancy
−$13.8K −$3.24/SF
EGI
$78.0K $18.36/SF
− OpEx
−$19.5K −$4.59/SF
NOI
$58.5K $13.77/SF
Area
Salem, OR
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,170,460
Cap Rate 7%
$836,043
Cap Rate 9%
$650,256
Alternative Uses
Best Use
Office B
$836.0K
$731.5K – $975.4K
NOI $58,523 @ 7.0% cap · market cap 3.38%
Second Best
Multifamily LT 5
$729.2K
$638.0K – $850.7K
NOI $51,043 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.13M
$987.4K – $1.32M
NOI $78,989 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Similar Off Market Nearby
- Mayrene's Catering — 2025 Carleton Way NE, Salem, OR 97301
Frequently Asked Questions
What type of property is this?
Flex space - IG-zoned flex property combines industrial space, a detached office, residential units, and secured outdoor areas.
Where is this flex space located?
The property is located at 3620 Mainline Dr NE Salem, OR.
What is the asking price?
The asking price for this property is $1,730,000.
What are key features of this property?
This property features: 4,250‑square‑foot flex property on 3620 Mainline Dr NE; IG zoning with industrial, office, and residential improvements; Industrial building includes forced‑air heat, 3‑phase power, and air piping
