Industrial Warehouse Facility with
For Sale
Contact for pricing
4355 Turner Rd SE, Salem, OR 97317
Fully fenced 5.69-acre industrial site features two warehouse buildings plus an office totaling about 22,646 SF.
Property Size22,646 SF
Lot Size5.69 Acres
Price / SF$209.75
Days on Market89
Property Features for 4355 Turner Rd SE
General Information
Standard status
Active
Size
22,646 SF
Lot size
5.69 Acres
Property subtype
Industrial
Zoning
IG
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
23 ft
Drive-In Doors
23
Additional Details
Fenced Yard
Yes
Building Details
Buildings
3
Listing Agency:
Macadam Forbes
Listed By:
Zach Reichle · License #OR
(503) 227-2500
Source:
Crexi
Added: Jun 9
Changed: Aug 13
Last Checked: Sep 4 at 1:52PM
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 Macadam Forbes
Investment Insights
Based on property information with market context.
The property is a fully fenced 5.69-acre industrial site improved with two warehouse buildings and an office building totaling approximately 22,646 SF. The facility includes 23 grade-level doors and clear heights up to 23 feet. Crane infrastructure is present throughout, and a covered wash bay with an oil-water separator supports industrial operations that require vehicle or equipment cleaning.
Also notable are existing cranes and paint booths, which are available to convey with the sale or may be removed depending on buyer preference. The property is described as being located in Salem’s General Industrial zone, supporting a wide range of industrial activities.
The current buildout and amenities are suited to an owner-user or an investor looking for a functional industrial facility with warehouse, office, and heavy-lift/industrial support capabilities already in place.
Also notable are existing cranes and paint booths, which are available to convey with the sale or may be removed depending on buyer preference. The property is described as being located in Salem’s General Industrial zone, supporting a wide range of industrial activities.
The current buildout and amenities are suited to an owner-user or an investor looking for a functional industrial facility with warehouse, office, and heavy-lift/industrial support capabilities already in place.
Key Highlights
- Fully fenced 5.69‑acre industrial site in Salem’s General Industrial zone
- Two warehouse buildings plus an office totaling approximately 22,646 SF
- 23 grade‑level doors and clear heights up to 23’
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$241,384
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,827,680
$4.8M
Cap Rate 7%
$3,448,343
$3.4M
Cap Rate 9%
$2,682,044
$2.7M
Market Conditions
NOI Build-Up for 22,646 SF
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.
Gross rent
$298.9K $13.20/SF
− Vacancy
−$14.9K −$0.66/SF
EGI
$284.0K $12.54/SF
− OpEx
−$42.6K −$1.88/SF
NOI
$241.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,827,680
Cap Rate 7%
$3,448,343
Cap Rate 9%
$2,682,044
Alternative Uses
Best Use
Warehouse
$3.45M
$3.02M – $4.02M
NOI $241,384 @ 7.0% cap · market cap 5.08%
Second Best
Industrial
$3.10M
$2.71M – $3.61M
NOI $216,858 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$6.01M
$5.26M – $7.01M
NOI $420,889 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
23 ft
Clear height
23
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 97317, OR
25,852
Population
9,024
Households
2.9
Avg Household Size
38
Median Age
22%
College-Educated
86%
High-School Grad
55.2 sq mi
ZIP Area
468
Density / Sq Mi
$81,208
Median Household Income
$39,794
Median Earnings
$1,370
Median Rent
$382,500
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Fully fenced 5.69-acre industrial site features two warehouse buildings plus an office totaling about 22,646 SF.
Where is this manufacturing property located?
The property is located at 4355 Turner Rd SE Salem, OR.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Fully fenced 5.69‑acre industrial site in Salem’s General Industrial zone; Two warehouse buildings plus an office totaling approximately 22,646 SF; 23 grade‑level doors and clear heights up to 23’
