Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    General Industrial Yard and Warehouse Title is generated by Realmo AI

    3511 Boone Rd SE, Salem, OR 97317

    View on Map
    Claim this Listing
    New
    For Lease
    Contact for pricing

    Large fenced yard with tractor-trailer access and warehouse space for flexible industrial operations.

    Type:Industrial
    Property size:
    16,056 SF
    Lot size:
    3.52 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 3:17 am

    Property Features for 3511 Boone Rd SE

    General Information

    Standard status
    Active
    Size
    16,056 SF
    Lot size
    3.52 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1978

    Spaces For Lease

    at 3511 Boone Rd SE Contact us

    We can help!

    Listing Contact
    Joshua Kay
    Joshua Kay

    Listing agent Joshua Kay License #OR 201215272

    Listing office First Commercial Real Estate Services

    Listing date Jun 3, 2026

    Source Crexi

    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

    HighLights

    • 3.52‑acre General Industrial (IG) zoned site at a signalized intersection east of the I‑5/Kuebler Boulevard interchange
    • Includes approximately 16,056 SF of existing warehouse and storage buildings
    • Large fenced yard of approximately 32,000 SF with wide paved access for tractor‑trailer traffic
    • Permitted IG uses include warehousing, manufacturing, construction contracting, wholesale trade, transportation/logistics, and R&D
    • Wide paved access and fenced yard layout support outdoor staging and logistics operations

    Overview

    This general industrial (IG) zoned property is a 3.52-acre site with approximately 16,056 SF of existing warehouse and storage buildings. It also includes a large fenced yard of approximately 32,000 SF with wide paved access designed to accommodate tractor-trailer traffic. The site is set up to support both storage and logistics-oriented uses in one location.

    The property is located at the first signalized intersection east of the I-5/Kuebler Boulevard interchange, an area described as one of Southeast Salem’s highest-visibility industrial locations. The yard’s paved, wide access is intended for heavy vehicle movement, supporting efficient on-site staging and deliveries.

    With IG zoning, the space is positioned for a broad range of industrial activities, including warehousing, manufacturing, construction contracting, wholesale trade, transportation/logistics, and R&D. This configuration can work well for owner-users seeking yard-backed warehouse operations, or for investors and developers looking for an IG site that can be expanded or repositioned over time.
    Location Intelligence

    Current Use by Public Records

    The Rooster Firewood llc Building Supply OnPoint Fencing and Decking Construction Company

    Suggested Use

    Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Auto Parts Store Department Store Kitchen & Bath Showroom Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Turner Road Storage — 4555 Turner Rd SE, Salem, OR 97317
    • BlueBox Storage — 4725 Turner Rd SE, Salem, OR 97317
    • Lock & Go Storage — 5110 36th Ave SE, Salem, OR 97317
    • South Salem RV & Storage — 3736 Kashmir Way SE, Salem, OR 97317

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -122.987038
    Latitude
    44.881828

    Nearby Similar for Lease

    • $38 SF/Yr
      2,700 SF

      Commercial Street Pad Site Available

      Freestanding pad site suitable for restaurant, bank, or retail.
      5785 Commercial Street, Salem, OR 97306
      View Details
    • $34 SF/Yr
      2,792 SF

      Prime Retail Space on Commercial

      Versatile spaces suitable for retail, restaurant, office, or fitness uses.
      4336-4340 Commercial St. SE , Salem, OR 97302
      View Details
    • $26 SF/Yr
      2,320 SF

      Prime Retail Space on Commercial

      Versatile retail space in high-traffic Salem location.
      5765 Commercial St SE, Salem, OR 97306
      View Details
    • $2 SF/Yr
      15,015 SF

      Renovated Medical Office Space Available

      Multi-tenant medical office with strong demographics and modern construction.
      2720 Commercial St SE, Salem, OR 97302
      View Details
    • $2 SF/Yr
      28,362 SF

      Premier Office Campus with Creek Frontage

      High-quality office space in Salem's finest business campus.
      650-680 Hawthorne Ave SE, Salem, OR 97301
      View Details
    • $1.00 SF/Yr
      12,006 SF

      Industrial Flex Building with Yard

      Modern industrial flex building with office space and spacious yard.
      3124 Blossom Dr NE, Salem, OR 97305
      View Details
    • $1.50 SF/Yr
      5,622 SF

      West Salem Retail/Office Space

      Bright, versatile retail/office space in West Salem's active corridor.
      1109 Edgewater Street Northwest, Salem, OR 97304
      View Details
    • $1.80 SF/Yr
      2,773 SF

      Updated Creekside Office Space

      Two-story office with creek views, updated interior and exterior.
      4160 Commercial St SE, Salem, OR 97302
      View Details
    • $4,000/Mo
      5,405 SF

      Warehouse with Fenced Yard

      Versatile industrial property with office, warehouse space, and fenced yard.
      5755 - 5765 State St, Salem, OR 97317
      View Details
    • $1.68 SF/Yr
      43,280 SF

      Historic Office Spaces in Salem

      Prime downtown Salem location with flexible office layouts for rent.
      494 State Street, Salem, OR 97301
      View Details
    • $4,000/Mo
      5,405 SF

      Salem Industrial Property with Fenced Yard

      Versatile industrial property with office, warehouse, and secure yard.
      5755 - 5765 State St, Salem, OR 97317
      View Details
    • $0.14 SF/Yr
      58,492 SF

      Historic Retail Space for Lease

      Unique retail spaces in a historic, vibrant, and centrally located campus.
      1313 Mill St SE, Salem, OR 97301
      View Details

    FAQs

    What type of property is this?
    Warehouse - Large fenced yard with tractor-trailer access and warehouse space for flexible industrial operations.
    Where is this warehouse located?
    The property is located at 3511 Boone Rd SE Salem, OR.
    What are key features of this property?
    This property features: 3.52‑acre General Industrial (IG) zoned site at a signalized intersection east of the I‑5/Kuebler Boulevard interchange; Includes approximately 16,056 SF of existing warehouse and storage buildings; Large fenced yard of approximately 32,000 SF with wide paved access for tractor‑trailer traffic
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Joshua Kay
    Joshua Kay
    Real Estate License ID: OR 201215272
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3511 Boone Rd SE, Salem, OR 97317
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!