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Versatile Commercial Property with Development Potential

3650 Mainline Dr Ne Salem, OR 97301

3650 Mainline Dr Ne, Salem, OR, 97301
$1,300,000
For Sale
Claim this Listing
$1,300,000

Acre of level ground with existing structures and development potential.

Property Size7,246 SF
Lot Size1.00 Acre
Price / SF$179.41
AddedJul 1, 2025
Days on Market380
Last RefreshJul 14 at 5:57 am

Property Features for 3650 Mainline Dr Ne

General Information

Standard status
Active
Size
7,246 SF
Lot size
1.00 Acre

Listing office EXP REALTY, LLC

Listing date Jul 1, 2025

Source Exprealty

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 EXP REALTY, LLC


Investment Insights

Based on property information with market context.

This commercial property features an acre of clear, level ground with a mix of heavily packed gravel and asphalt pavement, accommodating heavy truck traffic, storage, or serving as a base for further development. The site is conveniently located midway between Portland and Eugene off the MLK Parkway, a major artery linking Interstate 5 and the Oregon coast. Its visible side street location allows for safe truck access to major routes and parallels a railroad spur line to a switch yard, offering expanded transportation options. Existing structures on the property can be used for industrial purposes or leased shop space, complementing the open space's potential. Adjacent to one of the paved portions is a truck washing station with an environmentally friendly oil and water separator, along with a partitioned-off center island previously used for above-ground fueling. The main shop includes a secure tool room, office space, and separate bathrooms. Equipped with an automotive lift and direct view from the main entrance, it is suitable for retail repair or truck maintenance. Access to 3-phase power supports heavy industrial needs or a fabrication shop. The main office is separated by a brick courtyard matching its front entrance and parking area. The rear structure features a high ceiling allowing truck and equipment access. Originally configured as two separate shops, the main shop includes a bathroom, office space, and upstairs storage and separate room. The secondary shop has been divided into a third shop space. An adjacent older mobile home has been used as parts storage. All buildings are in usable shape, but should be considered in variable states of disrepair. Level 1 and 2 environmental studies have been performed, with no results requiring any further level 3 action.

Key Highlights

  • Acre of clear, level ground with gravel and asphalt pavement.
  • Convenient central location with easy access to Interstate 5.
  • Favorable environmental studies completed, ensuring readiness for development.

Local Financial Insights For Retail

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 $130.4k $18.00
− Vacancy −$5.9k −$0.81
EGI $124.6k $17.19
− OpEx −$37.4k −$5.16
NOI $87.2k $12.03
7,246 SF · lease $18.00/SF/yr · vacancy 4.50% · expense 30.00%

Alternative Uses

Best Use
Retail
$1.25M
$1.09M – $1.45M (±1% cap)
NOI $87,191 @ 7.0% cap · market cap 6.71%
Second Best
Warehouse
$1.10M
$965.4K – $1.29M (±1% cap)
NOI $77,235 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M (±1% cap)
NOI $134,671 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Flex space

Suggested Use

Law Firm Pharmacy HVAC Service Real Estate Agency Accounting Firm Furniture & Home Goods Kitchen & Bath Showroom Dental Office Auto Parts Store Electrical Service

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

Similar Off Market Nearby

  • Mayrene's Catering — 2025 Carleton Way NE, Salem, OR 97301

FAQs

What type of property is this?
Flex space - Acre of level ground with existing structures and development potential.
Where is this flex space located?
The property is located at 3650 Mainline Dr Ne Salem, OR.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Acre of clear, level ground with gravel and asphalt pavement.; Convenient central location with easy access to Interstate 5.; Favorable environmental studies completed, ensuring readiness for development.
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