Office Unit with
For Sale
Contact for pricing
1838 Lancaster Dr NE, Salem, OR 97305
Demised office space includes an ADA restroom, kitchen, storage, parking, and signage along Lancaster Drive.
Property Size1,405 SF
Price / SF$1.25
Days on Market67
Property Features for 1838 Lancaster Dr NE
General Information
Standard status
Active
Size
1,405 SF
Property subtype
Farm/Ranch
Listing Agency:
SHARON WOODS REAL ESTATE
Listed By:
SHARON WOODS · License #810200001
(503) 871-5971
Source:
Wisser
Added: Aug 11
Changed: Oct 15
Last Checked: Oct 5 at 8:43PM
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 SHARON WOODS REAL ESTATE
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office unit was separated from a larger office layout and includes a kitchen, storage area, and one ADA restroom. The space also benefits from on-site parking and signage along Lancaster Drive.
The landlord pays water, sewer, electricity, and gas, with those costs billed back to the tenant. The property is located at 1838 Lancaster Dr NE in Salem, Oregon.
The landlord pays water, sewer, electricity, and gas, with those costs billed back to the tenant. The property is located at 1838 Lancaster Dr NE in Salem, Oregon.
Key Highlights
- Demised from a larger office layout
- Includes 1 ADA restroom
- Kitchen and storage areas included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,347
Suggested Prices Based on Cap Rates
Cap Rate 5%
$386,940
$386.9K
Cap Rate 7%
$276,386
$276.4K
Cap Rate 9%
$214,967
$215.0K
Market Conditions
NOI Build-Up for 1,405 SF
Gross rent
$30.3K $21.60/SF
− Vacancy
−$4.6K −$3.24/SF
EGI
$25.8K $18.36/SF
− OpEx
−$6.4K −$4.59/SF
NOI
$19.3K $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%
$386,940
Cap Rate 7%
$276,386
Cap Rate 9%
$214,967
Alternative Uses
Best Use
Office B
$276.4K
$241.8K – $322.5K
NOI $19,347 @ 7.0% cap · market cap 1,101.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$373.0K
$326.4K – $435.2K
NOI $26,113 @ 7.0% cap · market cap 1,487.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 97305, OR
44,535
Population
15,219
Households
2.9
Avg Household Size
33
Median Age
16%
College-Educated
77%
High-School Grad
47.2 sq mi
ZIP Area
944
Density / Sq Mi
$64,581
Median Household Income
$32,554
Median Earnings
$1,386
Median Rent
$339,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office units - Demised office space includes an ADA restroom, kitchen, storage, parking, and signage along Lancaster Drive.
Where is this office units located?
The property is located at 1838 Lancaster Dr NE Salem, OR.
What are key features of this property?
This property features: Demised from a larger office layout; Includes 1 ADA restroom; Kitchen and storage areas included
