Clear-Span Warehouse with Grade
For Sale
Contact for pricing
3224 Pringle Rd SE, Salem, OR 97302
Industrial warehouse with high clear height, grade-level access, gas heat, and sprinkler protection.
Property Size5,311 SF
Price / SF$0.69
Days on Market86
Property Features for 3224 Pringle Rd SE
General Information
Standard status
Active
Size
5,311 SF
Property subtype
Farm/Ranch
Listing Agency:
GALL REAL ESTATE SERVICES LLC
Listed By:
JENNIFER HAND · License #960600193
(503) 363-6051
Source:
Wisser
Added: Jul 23
Changed: Oct 6
Last Checked: Oct 5 at 10:45PM
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 GALL REAL ESTATE SERVICES LLC
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Investment Insights
Based on property information with market context.
This 5,311-square-foot clear-span warehouse provides an open interior layout with a 20-foot clear height. The building features a metal-skinned interior, grade-level doors, gas-fired warehouse heat, and a sprinkler system. Shared restrooms help preserve usable warehouse area.
The property is located at 3224 Pringle Rd SE in Salem, Oregon, with access to I-5 and Highway 22. The combination of open-span space, elevated clear height, and direct grade-level access supports a range of warehouse operations.
The property is located at 3224 Pringle Rd SE in Salem, Oregon, with access to I-5 and Highway 22. The combination of open-span space, elevated clear height, and direct grade-level access supports a range of warehouse operations.
Key Highlights
- 5,311‑square‑foot clear‑span warehouse
- 20' clear height
- Grade‑level doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,610
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,132,200
$1.1M
Cap Rate 7%
$808,714
$808.7K
Cap Rate 9%
$629,000
$629.0K
Market Conditions
NOI Build-Up for 5,311 SF
Gross rent
$70.1K $13.20/SF
− Vacancy
−$3.5K −$0.66/SF
EGI
$66.6K $12.54/SF
− OpEx
−$10.0K −$1.88/SF
NOI
$56.6K $10.66/SF
Area
Salem, OR
Vacancy
5.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,132,200
Cap Rate 7%
$808,714
Cap Rate 9%
$629,000
Alternative Uses
Best Use
Warehouse
$808.7K
$707.6K – $943.5K
NOI $56,610 @ 7.0% cap · market cap 1,544.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.65M
NOI $98,708 @ 7.0% cap · market cap 2,693.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
Balanced
Demand for This Use
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Lineage — 2525 Ewald Ave SE, Salem, OR 97302
- Pringle Creek Storage — 1785 Salishan St SE, Salem, OR 97302
- Lineage — 2320 Madrona Ave SE, Salem, OR 97302
- Salem Distribution Center — 2711 19th St SE, Salem, OR 97302
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with high clear height, grade-level access, gas heat, and sprinkler protection.
Where is this warehouse located?
The property is located at 3224 Pringle Rd SE Salem, OR.
What are key features of this property?
This property features: 5,311‑square‑foot clear‑span warehouse; 20' clear height; Grade‑level doors
