Flexible Storefront with
New
For Sale
$359,900
245 Salem Heights Ave Se, Salem, OR 97302
An open interior includes a private office, restroom, storage, fenced outdoor area, and on-site parking.
Property Size1,589 SF
Price / SF$226.49
Days on Market5
Property Features for 245 Salem Heights Ave Se
General Information
Standard status
Active
Size
1,589 SF
Taxes and HOA fees
Annual Taxes
$2,598
Amenities
private office
restroom
storage
fenced outdoor area
on-site parking
Building Details
Owner Occupied
Yes
Listing Agency:
REALTY ONE GROUP WILLAMETTE VALLEY
(503) 990-7137
Listed By:
MIKE EASTLUND · License #200910041
(503) 559-8499
Source:
Exprealty
Added: Oct 3
Changed: Oct 6
Last Checked: Oct 6 at 2:34AM
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 REALTY ONE GROUP WILLAMETTE VALLEY
Investment Insights
Based on property information with market context.
This 1,589-square-foot storefront in South Salem has an open layout with a private office, restroom, and storage. The property also includes a fenced outdoor area and on-site parking. The owner will vacate upon closing.
Key Highlights
- Approx. 1, 589 SF of storefront space
- Open layout with a private office, restroom, and storage
- Fenced outdoor area and on‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,120
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,400
$382.4K
Cap Rate 7%
$273,143
$273.1K
Cap Rate 9%
$212,444
$212.4K
Market Conditions
NOI Build-Up for 1,589 SF
Gross rent
$28.6K $18.00/SF
− Vacancy
−$1.3K −$0.81/SF
EGI
$27.3K $17.19/SF
− OpEx
−$8.2K −$5.16/SF
NOI
$19.1K $12.03/SF
Area
Salem, OR
Vacancy
4.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,400
Cap Rate 7%
$273,143
Cap Rate 9%
$212,444
Alternative Uses
Best Use
Retail
$273.1K
$239.0K – $318.7K
NOI $19,120 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$421.9K
$369.2K – $492.2K
NOI $29,533 @ 7.0% cap · market cap 8.21%
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
982
Businesses Nearby
Under-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 Retail in West region
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Frequently Asked Questions
What type of property is this?
Storefront property - An open interior includes a private office, restroom, storage, fenced outdoor area, and on-site parking.
Where is this storefront property located?
The property is located at 245 Salem Heights Ave Se Salem, OR.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Approx. 1, 589 SF of storefront space; Open layout with a private office, restroom, and storage; Fenced outdoor area and on‑site parking
