Commercial Portfolio with Highway
For Sale
Contact for pricing
1994 Commercial St NE, Salem, OR 97301
Two-parcel commercial/industrial portfolio with showroom, office, and warehouse space.
Property Size9,299 SF
Lot Size0.60 Acres
Price / SF$150.55
Days on Market151
Property Features for 1994 Commercial St NE
General Information
Standard status
Active
Size
9,299 SF
Class
B
Lot size
0.60 Acres
Property subtype
Retail, Industrial
Zoning
CG (General Commercial)
Lease Type
NNN
Building Details
Year Built
1981
Buildings
2
Tenancy
Single
Listing Agency:
First Commercial Real Estate Services
Listed By:
Joshua Kay · License #OR 201215272
Source:
Crexi
Added: May 13
Changed: Oct 6
Last Checked: Oct 9 at 6:37PM
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 First Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This commercial and industrial portfolio includes two parcels offered together. The first parcel, located at 1985 Liberty St NE, features an 8,471 square foot concrete tilt-up building constructed in 1981. The building includes showroom, office, and warehouse space, with 14' x 14' roll-up doors on the north and west sides. It benefits from highway frontage on Liberty St NE (Hwy 99E), with a traffic volume of 17,860 vehicles per day. The second parcel, located at 1994 Commercial St NE, is a 0.30-acre yard or parking parcel with CG zoning, which includes an 828 square foot residential structure. The combined area of both parcels is 0.60 acres, with CG zoning. The property is suitable for owner-users, investors, contractors, auto or service businesses, light industrial purposes, and showroom users.
Key Highlights
- Highway frontage on Liberty St NE (Hwy 99E) with 17,860 VPD.
- Two‑parcel commercial/industrial portfolio totaling 0.60 acres with CG zoning.
- 8,471 SF concrete tilt‑up building with showroom, office, and warehouse space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,047
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,560,940
$2.6M
Cap Rate 7%
$1,829,243
$1.8M
Cap Rate 9%
$1,422,744
$1.4M
Market Conditions
NOI Build-Up for 9,299 SF
Gross rent
$200.9K $21.60/SF
− Vacancy
−$30.1K −$3.24/SF
EGI
$170.7K $18.36/SF
− OpEx
−$42.7K −$4.59/SF
NOI
$128.0K $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%
$2,560,940
Cap Rate 7%
$1,829,243
Cap Rate 9%
$1,422,744
Alternative Uses
Best Use
Office B
$1.83M
$1.60M – $2.13M
NOI $128,047 @ 7.0% cap · market cap 9.15%
Second Best
Retail
$1.60M
$1.40M – $1.86M
NOI $111,895 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,827 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
808
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-parcel commercial/industrial portfolio with showroom, office, and warehouse space.
Where is this mixed-use property located?
The property is located at 1994 Commercial St NE Salem, OR.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Highway frontage on Liberty St NE (Hwy 99E) with 17,860 VPD.; Two‑parcel commercial/industrial portfolio totaling 0.60 acres with CG zoning.; 8,471 SF concrete tilt‑up building with showroom, office, and warehouse space.
