New Industrial Building For
For Sale
Contact for pricing
4405 Turner Road SE, Salem, OR 97317
New construction industrial building near I-5, completion January 2024.
Property Size193,758 SF
Price / SF$185
Days on Market1385
Property Features for 4405 Turner Road SE
General Information
Standard status
Active
Size
193,758 SF
Total Parking Spaces
70
Property subtype
Industrial
Zoning
General Industrial (IG)
Lease Type
NNN
Building Details
Year Built
2024
Buildings
1
Stories
1
Listing Agency:
Macadam Forbes
Listed By:
Clayton Madey · License #OR 201727196
(503) 972-7277
Source:
Crexi
Added: Jan 4, 2023
Changed: Oct 17
Last Checked: Oct 19 at 7:35AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A new-construction industrial building is available for sale or lease. The building, with a property size of 193758 square feet, is currently under construction and is estimated to be completed in January 2024. The property is located near I-5.
Key Highlights
- New construction industrial building, available for sale or lease.
- Conveniently located near I‑5.
- Under construction, with estimated completion in January 2024.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,065,267
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$41,305,340
$41.3M
Cap Rate 7%
$29,503,814
$29.5M
Cap Rate 9%
$22,947,411
$22.9M
Market Conditions
NOI Build-Up for 193,758 SF
Gross rent
$2.56M $13.20/SF
− Vacancy
−$127.9K −$0.66/SF
EGI
$2.43M $12.54/SF
− OpEx
−$364.5K −$1.88/SF
NOI
$2.07M $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%
$41,305,340
Cap Rate 7%
$29,503,814
Cap Rate 9%
$22,947,411
Alternative Uses
Best Use
Warehouse
$29.50M
$25.82M – $34.42M
NOI $2,065,267 @ 7.0% cap · market cap 5.76%
Second Best
Industrial
$26.51M
$23.19M – $30.92M
NOI $1,855,427 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$51.44M
$45.01M – $60.02M
NOI $3,601,109 @ 7.0% cap · market cap 10.05%
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
111
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Lock & Go Storage — 5110 36th Ave SE, Salem, OR 97317
- BlueBox Storage — 4725 Turner Rd SE, Salem, OR 97317
- Turner Road Storage — 4555 Turner Rd SE, Salem, OR 97317
- Lineage — 4301 Henningsen Ct SE, Salem, OR 97317
- Lineage Logistics — 4301 Henningsen Ct SE, Salem, OR 97317
Frequently Asked Questions
What type of property is this?
Warehouse - New construction industrial building near I-5, completion January 2024.
Where is this warehouse located?
The property is located at 4405 Turner Road SE Salem, OR.
What is the asking price?
The asking price for this property is $35,845,230.
What are key features of this property?
This property features: New construction industrial building, available for sale or lease.; Conveniently located near I‑5.; Under construction, with estimated completion in January 2024.
