Two-Story Medical Office
3260 State St Salem, OR 97301
For Sale
Contact for pricing
Class A medical office leased to a regional hospital group through February 2030, with robust parking and loading.
Property Size38,348 SF
Price / SF$333.79
Days on Market52
Property Features for 3260 State St
General Information
- Standard status
- Active
- Size
- 38,348 SF
- Property subtype
- OFFICE
Listing Agency:
Capacity Commercial Group
(503) 559-7990
Listed By:
Curt Arthur · License #201230204
(503) 559-7990
Source:
Moodyscre
Added: Jun 5
Changed: Jul 10
Last Checked: Jul 21 at 4:44AM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
The subject property is a two-story, Class A suburban office building occupied by a regional hospital group since construction. The facility is in excellent condition and is currently home to the Salem Health Laboratory, described as a drop-in laboratory location and processing facility. The property also includes a package truck loading dock and has a new roof installed in 2025.
The asset is offered as a single-tenant NNN investment. The building is centrally located in the market and positioned for convenient patient access, supported by robust on-site parking and practical loading capabilities.
For buyers, this is a straightforward long-term income stream with the same tenant since construction. Leasing is in place through February 2030, and the property’s medical office use and laboratory operations are already established within the building. With a recently replaced roof and dedicated loading infrastructure, the offering may appeal to investors seeking a stabilized, owner-occupied-style healthcare asset that is already configured for laboratory processing needs.
The asset is offered as a single-tenant NNN investment. The building is centrally located in the market and positioned for convenient patient access, supported by robust on-site parking and practical loading capabilities.
For buyers, this is a straightforward long-term income stream with the same tenant since construction. Leasing is in place through February 2030, and the property’s medical office use and laboratory operations are already established within the building. With a recently replaced roof and dedicated loading infrastructure, the offering may appeal to investors seeking a stabilized, owner-occupied-style healthcare asset that is already configured for laboratory processing needs.
Key Highlights
- Class A, two‑story suburban office occupied by the regional hospital group since construction
- Single‑tenant NNN investment with a lease in place through February 2030
- New roof installed in 2025
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $828.3k | $21.60 |
| − Vacancy | −$124.2k | −$3.24 |
| EGI | $704.1k | $18.36 |
| − OpEx | −$176.0k | −$4.59 |
| NOI | $528.1k | $13.77 |
38,348 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$7.54M
$6.60M – $8.80M
NOI $528,052 @ 7.0% cap · market cap 4.13%
Second Best
Healthcare Medical
$7.34M
$6.42M – $8.56M
NOI $513,556 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$10.18M
$8.91M – $11.88M
NOI $712,721 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mountain West Investment ...
Financial Advisor
FAQs
What type of property is this?
Medical center - Class A medical office leased to a regional hospital group through February 2030, with robust parking and loading.
Where is this medical center located?
The property is located at 3260 State St Salem, OR.
What is the asking price?
The asking price for this property is $12,800,000.
What are key features of this property?
This property features: Class A, two‑story suburban office occupied by the regional hospital group since construction; Single‑tenant NNN investment with a lease in place through February 2030; New roof installed in 2025
