Multi-Entry Flex
For Sale
$925,000
1375 13TH ST, Salem, OR 97302
IC zoning, multiple entrances, and alley access support varied commercial configurations.
Property Size7,300 SF
Lot Size0.33 Acres
Price / SF$126.71
Days on Market11
Property Features for 1375 13TH ST
General Information
Standard status
Active
Size
7,300 SF
Total Parking Spaces
20
Lot size
0.33 Acres
Property subtype
Industrial
Zoning
IC
Taxes and HOA fees
Annual Taxes
$9,027
Amenities
3
Parking.
Off Street.
SqFt10000to14999
Paved Road.
Building Details
Year Built
1959
Building Size
7,300 SF
Listing Agency:
SMI Commercial Real Estate LLC
(541) 646-0650
Listed By:
Jordan Sparks · License #200610098
(541) 646-0650
Source:
Xome
Added: Jul 30
Changed: Aug 9
Last Checked: Aug 9 at 5:15AM
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 SMI Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
This Salem flex-space property includes approximately 7,300 SF within a .33-acre site. Constructed in 1959, the building has 3 separate entrances and 3 restrooms, providing a practical layout for multiple occupants or an owner-user operation. The property also offers the ability to reinstall a roll-up door, adding adaptability for commercial activities requiring larger access points.
Access is provided through a pull-through alley, with paved-road connectivity and off-street parking for approximately 20 vehicles. IC zoning supports retail, office, manufacturing, warehouse, distribution, contractor, and automotive uses. The property is positioned along a corridor with an estimated 14,000 daily traffic count.
Access is provided through a pull-through alley, with paved-road connectivity and off-street parking for approximately 20 vehicles. IC zoning supports retail, office, manufacturing, warehouse, distribution, contractor, and automotive uses. The property is positioned along a corridor with an estimated 14,000 daily traffic count.
Key Highlights
- Approximately 7,300 SF flex‑space building on a .33‑acre lot
- IC zoning supports retail, office, manufacturing, warehouse, distribution, contractor, and automotive uses
- 3 separate entrances and 3 restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,811
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,556,220
$1.6M
Cap Rate 7%
$1,111,586
$1.1M
Cap Rate 9%
$864,567
$864.6K
Market Conditions
NOI Build-Up for 7,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$96.4K $13.20/SF
− Vacancy
−$4.8K −$0.66/SF
EGI
$91.5K $12.54/SF
− OpEx
−$13.7K −$1.88/SF
NOI
$77.8K $10.66/SF
Area
Salem, OR
Vacancy
5.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,556,220
Cap Rate 7%
$1,111,586
Cap Rate 9%
$864,567
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,521 @ 7.0% cap · market cap 10.87%
Second Best
Retail
$1.25M
$1.10M – $1.46M
NOI $87,841 @ 7.0% cap · market cap 9.50%
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,675 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,622
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97302, OR
39,776
Population
17,888
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
95%
High-School Grad
23.5 sq mi
ZIP Area
1,693
Density / Sq Mi
$83,697
Median Household Income
$44,623
Median Earnings
$1,230
Median Rent
$415,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Willabys Catering & Event — 765 Liberty St SE, Salem, OR 97301
- Dynasys Inc — 1825 12th St SE, Salem, OR 97302
- Oregon Beverage Services — 2713 19th St SE, Salem, OR 97302
Frequently Asked Questions
What type of property is this?
Flex space - IC zoning, multiple entrances, and alley access support varied commercial configurations.
Where is this flex space located?
The property is located at 1375 13TH ST Salem, OR.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Approximately 7,300 SF flex‑space building on a .33‑acre lot; IC zoning supports retail, office, manufacturing, warehouse, distribution, contractor, and automotive uses; 3 separate entrances and 3 restrooms
