New Multifamily Infill
For Sale
$1,125,000
1380 Saginaw Street S, Salem, OR 97302
New multifamily property in desirable location near central business district.
Property Size2,884 SF
Price / SF$390.08
Days on Market97
Property Features for 1380 Saginaw Street S
General Information
Standard status
Active
Size
2,884 SF
Property subtype
Multifamily
Building Details
Building Size
2,884 SF
Year Built
2026
Listing Agency:
SVN | Commercial Advisors LLC
(503) 559-9397
Listed By:
George Grabenhorst · License #870500042
(503) 559-9397
Source:
Capacitycommercial
Added: May 27
Changed: Aug 26
Last Checked: Aug 30 at 1:27PM
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 SVN | Commercial Advisors LLC
Investment Insights
Based on property information with market context.
This new infill development features a multifamily property with a total size of 2884 square feet. The property includes two 2-bedroom/2-bath units and two 1-bedroom/1-bath units. It is situated in a desirable and quiet location, approximately six blocks from the central business district.
Key Highlights
- New infill development.
- Desirable and quiet location.
- Close proximity (6 blocks) to the central business district.
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
$34,637
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
3.08%
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%
$692,740
$692.7K
Cap Rate 7%
$494,814
$494.8K
Cap Rate 9%
$384,856
$384.9K
Market Conditions
NOI Build-Up for 2,884 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
$53.0K $18.36/SF
− Vacancy
−$3.5K −$1.20/SF
EGI
$49.5K $17.16/SF
− OpEx
−$14.8K −$5.15/SF
NOI
$34.6K $12.01/SF
Area
Salem, OR
Vacancy
6.55%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
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%
$692,740
Cap Rate 7%
$494,814
Cap Rate 9%
$384,856
Alternative Uses
Best Use
Multifamily LT 5
$494.8K
$433.0K – $577.3K
NOI $34,637 @ 7.0% cap · market cap 3.08%
Second Best
Apartment 5plus
$455.7K
$398.7K – $531.6K
NOI $31,898 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$765.7K
$670.0K – $893.4K
NOI $53,601 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,864
Businesses Nearby
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - New multifamily property in desirable location near central business district.
Where is this quadplex located?
The property is located at 1380 Saginaw Street S Salem, OR.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: New infill development.; Desirable and quiet location.; Close proximity (6 blocks) to the central business district.
