Flex Building With
For Sale
$1,420,000
2160 Davcor St, Salem, OR 97302
Flex building with parking and current vacancy offering space to accommodate owner-user or additional tenants.
Property Size9,000 SF
Price / SF$157.78
Days on Market50
Property Features for 2160 Davcor St
General Information
Standard status
Active
Size
9,000 SF
Building Details
Year Built
1979
Tenancy
Multi
Listing Agency:
SMI Commercial Real Estate LLC
Listed By:
Elesa Doll · License #200708163
(503) 390-6060
Source:
Rosecityrealtygroup
Added: Jul 30
Changed: Sep 8
Last Checked: Sep 17 at 12:43AM
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 SMI Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
This flex building offers a practical setup for an owner-user and for generating rental income from other tenants. The property is a 9,000 SF building, built in 1979, with 3,665 SF currently vacant and an option for more space.
The building is centrally located at 2160 Davcor Street in Salem, OR 97302. Prospective buyers should do their own due diligence to confirm whether the property is located in the Oregon Enterprise Zone.
Please note that tenants are in place; arrangements should be made so that they are not disturbed. Financials and lease information are available upon request.
The building is centrally located at 2160 Davcor Street in Salem, OR 97302. Prospective buyers should do their own due diligence to confirm whether the property is located in the Oregon Enterprise Zone.
Please note that tenants are in place; arrangements should be made so that they are not disturbed. Financials and lease information are available upon request.
Key Highlights
- 9,000 SF flex building built in 1979
- 3,665 SF currently vacant with an option for more space
- Parking available on site
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
$92,383
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
6.51%
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%
$1,847,660
$1.8M
Cap Rate 7%
$1,319,757
$1.3M
Cap Rate 9%
$1,026,478
$1.0M
Market Conditions
NOI Build-Up for 9,000 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
$151.2K $16.80/SF
− Vacancy
−$9.1K −$1.01/SF
EGI
$142.1K $15.79/SF
− OpEx
−$49.7K −$5.53/SF
NOI
$92.4K $10.26/SF
Area
Salem, OR
Vacancy
6.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$1,847,660
Cap Rate 7%
$1,319,757
Cap Rate 9%
$1,026,478
Alternative Uses
Best Use
Flex RnD
$1.32M
$1.15M – $1.54M
NOI $92,383 @ 7.0% cap · market cap 6.51%
Second Best
Industrial
$1.23M
$1.08M – $1.44M
NOI $86,184 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,270 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
922
Businesses Nearby
Well-served
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
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 - Flex building with parking and current vacancy offering space to accommodate owner-user or additional tenants.
Where is this flex space located?
The property is located at 2160 Davcor St Salem, OR.
What is the asking price?
The asking price for this property is $1,420,000.
What are key features of this property?
This property features: 9,000 SF flex building built in 1979; 3,665 SF currently vacant with an option for more space; Parking available on site
