Ready-to-Use Office
1850 45th Ave NE, Salem, OR 97305
For Sale
Contact for pricing
Office space within a community center offering private rooms, reception space, support areas, and access to ample parking.
Property Size4,795 SF
Price / SF$1.65
Days on Market100
Property Features for 1850 45th Ave NE
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Office Units
Amenities
shared bathrooms
Listing Agency:
LEGACY REAL ESTATE
Listed By:
JAMES HAUGE · License OR #200107093
(503) 877-2101
Source:
Amymcleod
Added: Aug 8
Changed: Nov 1
Last Checked: Nov 14 at 9:01AM
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 LEGACY REAL ESTATE
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Investment Insights
Based on property information with market context.
The office offering provides 4,795 SF within the East Salem Community Center. Its layout includes 12 private offices, a spacious reception area, a private restroom, breakroom, and storage, creating a defined workplace configuration for an organization or professional operation. Utilities and CAM are included.
The property is located at 1850 45th Ave NE in Salem, with ample on-site parking and additional parking available through the building. Shared bathrooms supplement the private restroom. Additional community-center facilities, including a fellowship hall, conference room, kitchen, and 600-seat auditorium/sanctuary, are available to rent by the hour.
The property is located at 1850 45th Ave NE in Salem, with ample on-site parking and additional parking available through the building. Shared bathrooms supplement the private restroom. Additional community-center facilities, including a fellowship hall, conference room, kitchen, and 600-seat auditorium/sanctuary, are available to rent by the hour.
Key Highlights
- 4,795 SF office space inside the East Salem Community Center
- 12 private offices with a large reception area
- Private restroom, breakroom, and storage included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,027
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,320,540
$1.3M
Cap Rate 7%
$943,243
$943.2K
Cap Rate 9%
$733,633
$733.6K
Market Conditions
NOI Build-Up for 4,795 SF
Gross rent
$103.6K $21.60/SF
− Vacancy
−$15.5K −$3.24/SF
EGI
$88.0K $18.36/SF
− OpEx
−$22.0K −$4.59/SF
NOI
$66.0K $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%
$1,320,540
Cap Rate 7%
$943,243
Cap Rate 9%
$733,633
Alternative Uses
Best Use
Office B
$943.2K
$825.3K – $1.10M
NOI $66,027 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,118 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
778
Businesses Nearby
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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
$339,100
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Salem, OR
Properties on Market for Office Units in Salem
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Office space within a community center offering private rooms, reception space, support areas, and access to ample parking.
Where is this office unit located?
The property is located at 1850 45th Ave NE Salem, OR.
What are key features of this property?
This property features: 4,795 SF office space inside the East Salem Community Center; 12 private offices with a large reception area; Private restroom, breakroom, and storage included
