Licensed Cannabis Production
For Sale
$2,100,000
1885 ANUNSEN Ct Unit 1885, Salem, OR 97301
Industrial-zoned operation includes secured improvements, office space, and on-site parking.
Property Size14,000 SF
Price / SF$150
Days on Market537
Property Features for 1885 ANUNSEN Ct Unit 1885
General Information
Standard status
Active
Size
14,000 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$11,773
Amenities
Central Air
3
Metal
IN
10 Parking Spaces. Secured, On Site.
Fenced, Storage Area, Office/Library. Paved Road.
Building Details
Year Built
1980
Listing Agency:
Premiere Property Group LLC
(541) 556-4994
Listed By:
Andrew Hutson · License #201218132
(541) 556-4994
Source:
Xome
Added: Mar 12, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:15PM
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 Premiere Property Group LLC
Investment Insights
Based on property information with market context.
The offering combines the land, building, and operating business in a cannabis production property within city limits. Indoor hydroponic cultivation occupies 5,000 SF and is currently producing 100 lb per month. The improvements include new HVAC, air-conditioning, electrical, and drainage systems, along with four 20-ton AC units and a 3,000-amp electrical upgrade.
The 14,000 property-size building was constructed in 1980 and features full insulation, security measures, office or library space, storage, and a secured paved on-site parking area with 10 spaces. The site is fenced and accessed by a paved road. Industrial zoning applies, and the transferable OLCC Tier II Producer license is included as part of the offering.
The 14,000 property-size building was constructed in 1980 and features full insulation, security measures, office or library space, storage, and a secured paved on-site parking area with 10 spaces. The site is fenced and accessed by a paved road. Industrial zoning applies, and the transferable OLCC Tier II Producer license is included as part of the offering.
Key Highlights
- 5,000 SF indoor hydroponic cultivation area producing 100 lb per month
- Transferable OLCC Tier II Producer license
- Four 20‑ton AC units and a 3,000‑amp electrical upgrade
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
$134,064
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
6.38%
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%
$2,681,280
$2.7M
Cap Rate 7%
$1,915,200
$1.9M
Cap Rate 9%
$1,489,600
$1.5M
Market Conditions
NOI Build-Up for 14,000 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
$201.6K $14.40/SF
− Vacancy
−$10.1K −$0.72/SF
EGI
$191.5K $13.68/SF
− OpEx
−$57.5K −$4.10/SF
NOI
$134.1K $9.58/SF
Area
Salem, OR
Vacancy
5.00%
Lease Rate
$14.40 /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%
$2,681,280
Cap Rate 7%
$1,915,200
Cap Rate 9%
$1,489,600
Alternative Uses
Best Use
Industrial
$1.92M
$1.68M – $2.23M
NOI $134,064 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.72M
$3.25M – $4.34M
NOI $260,198 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Cannabis property - Industrial-zoned operation includes secured improvements, office space, and on-site parking.
Where is this cannabis property located?
The property is located at 1885 ANUNSEN Ct Unit 1885 Salem, OR.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 5,000 SF indoor hydroponic cultivation area producing 100 lb per month; Transferable OLCC Tier II Producer license; Four 20‑ton AC units and a 3,000‑amp electrical upgrade
