Flex Building with Dock-High
1891 16th St, Salem, OR 97302
For Sale
$4,950,000
A substantial industrial and office facility offers a mix of warehouse and administrative space on a 2.59-acre site.
Property Size45,067 SF
Lot Size2.59 Acres
Price / SF$109.84
Days on Market212
Property Features for 1891 16th St
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Highway Access
Warehouse & Industrial
Warehouse Space
Office Build-Out
Additional Details
Property Use
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Mosar Commercial Properties
Listed By:
Mike Mosar
(971) 273-7670
Source:
Horsepowerrealestateproperties
Added: Apr 13
Changed: Nov 7
Last Checked: Nov 9 at 7:14PM
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 Mosar Commercial Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex property contains 45,067 square feet, including 10,000 square feet of office area and 33,000 square feet of warehouse space. Grade-level and dock-high loading doors serve the building, which was constructed in 1948. IG zoning is identified for the property.
The site encompasses 2.59 acres, with access to Highway 22 and I-5.
The site encompasses 2.59 acres, with access to Highway 22 and I-5.
Key Highlights
- 45,067‑square‑foot building with 10,000 square feet of office and 33,000 square feet of warehouse space
- Grade‑level and dock‑high loading doors
- 2.59‑acre site with access to Highway 22 and I‑5
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$431,562
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,631,240
$8.6M
Cap Rate 7%
$6,165,171
$6.2M
Cap Rate 9%
$4,795,133
$4.8M
Market Conditions
NOI Build-Up for 45,067 SF
Gross rent
$649.0K $14.40/SF
− Vacancy
−$32.4K −$0.72/SF
EGI
$616.5K $13.68/SF
− OpEx
−$185.0K −$4.10/SF
NOI
$431.6K $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 Rate 5%
$8,631,240
Cap Rate 7%
$6,165,171
Cap Rate 9%
$4,795,133
Alternative Uses
Best Use
Warehouse
$6.86M
$6.00M – $8.01M
NOI $480,369 @ 7.0% cap · market cap 9.70%
Second Best
Flex RnD
$6.61M
$5.78M – $7.71M
NOI $462,604 @ 7.0% cap · market cap 9.35%
Theoretical Best
Office A
$11.97M
$10.47M – $13.96M
NOI $837,597 @ 7.0% cap · market cap 16.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,278
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
$415,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Flex space in Salem, OR
Properties on Market for Flex space in Salem
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Simply Plated Catering — 2980 19th St SE, Salem, OR 97302
- Oregon Beverage Services — 2713 19th St SE, Salem, OR 97302
- Dynasys Inc — 1825 12th St SE, Salem, OR 97302
Frequently Asked Questions
What type of property is this?
Flex space - A substantial industrial and office facility offers a mix of warehouse and administrative space on a 2.59-acre site.
Where is this flex space located?
The property is located at 1891 16th St Salem, OR.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 45,067‑square‑foot building with 10,000 square feet of office and 33,000 square feet of warehouse space; Grade‑level and dock‑high loading doors; 2.59‑acre site with access to Highway 22 and I‑5
