Office Building with Shared
For Sale
Contact for pricing
5121 Skyline Village Loop S, Salem, OR 97306
Office building featuring three elevators, shared kitchen and gym with shower facilities, plus below-grade parking options.
Property Size48,968 SF
Price / SF$167.46
Days on Market270
Property Features for 5121 Skyline Village Loop S
General Information
Standard status
Active
Size
48,968 SF
Class
,null,
Property subtype
OFFICE
Zoning
,null,
Lease Terms
Lease Term
0 months
Month-to-Month
Yes
Flexible Term
Yes
Financials
Cap Rate
0%
Opportunity Zone
Yes
Site & Location
Neighborhood
Sunnyslope Neighborhood Association
Traffic Count
0 vehicles/day
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
0 ft
Heavy Power
Yes
Sprinkler System
Yes
Restaurant
Commercial Hood
Yes
Grease Trap
Yes
Liquor License
Yes
Additional Details
Water Rights
Yes
Building Details
Tenancy
,null,
Abandoned
Yes
Listing Agency:
Tradition Real Estate Partners
(503) 877-4653
Listed By:
Rich Karlson · License #201222799
(503) 804-4653
Source:
Moodyscre
Added: Feb 4
Changed: Oct 25
Last Checked: Nov 1 at 6:47AM
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 Tradition Real Estate Partners
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Investment Insights
Based on property information with market context.
This office building includes three elevators and shared tenant amenities such as a kitchen and break room, an exterior patio/deck, and a shared gym with shower facilities. Shared conference room options are also available, and office/cubicle furniture is included. Below-grade parking is listed as available.
The property is located at 5121 Skyline Village Loop S near the corner of Kuebler and Skyline Rd S. The First Pacific Corp. Building is described as approximately 2.2 miles from I-5 and is positioned among complimentary surrounding uses, including Kaiser Permanente Skyline Medical Office and The Doctors’ Clinic.
Additional terms mentioned for the property include a substantial tenant improvement (TI) allowance for credit tenants, along with a 3.5/1000 parking ratio and potential signage opportunities.
The property is located at 5121 Skyline Village Loop S near the corner of Kuebler and Skyline Rd S. The First Pacific Corp. Building is described as approximately 2.2 miles from I-5 and is positioned among complimentary surrounding uses, including Kaiser Permanente Skyline Medical Office and The Doctors’ Clinic.
Additional terms mentioned for the property include a substantial tenant improvement (TI) allowance for credit tenants, along with a 3.5/1000 parking ratio and potential signage opportunities.
Key Highlights
- Office building offers 3 elevators and below‑grade parking options
- Shared amenities include kitchen/break room, exterior patio/deck, and a gym with shower facilities
- TI allowance available for credit tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$674,289
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,485,780
$13.5M
Cap Rate 7%
$9,632,700
$9.6M
Cap Rate 9%
$7,492,100
$7.5M
Market Conditions
NOI Build-Up for 48,968 SF
Gross rent
$1.06M $21.60/SF
− Vacancy
−$158.7K −$3.24/SF
EGI
$899.1K $18.36/SF
− OpEx
−$224.8K −$4.59/SF
NOI
$674.3K $13.77/SF
Area
Salem, OR
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,485,780
Cap Rate 7%
$9,632,700
Cap Rate 9%
$7,492,100
Alternative Uses
Best Use
Office B
$9.63M
$8.43M – $11.24M
NOI $674,289 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.00M
$11.38M – $15.17M
NOI $910,100 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
,null, -tenant
Tenancy
Yes
Heavy power
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Yes
Water rights
Yes
Commercial hood
Yes
Grease trap
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
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Business Placement
Demographics for 97306, OR
34,715
Population
14,151
Households
2.5
Avg Household Size
38
Median Age
42%
College-Educated
95%
High-School Grad
32.4 sq mi
ZIP Area
1,071
Density / Sq Mi
$89,773
Median Household Income
$50,931
Median Earnings
$1,455
Median Rent
$438,900
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Office building featuring three elevators, shared kitchen and gym with shower facilities, plus below-grade parking options.
Where is this office building located?
The property is located at 5121 Skyline Village Loop S Salem, OR.
What is the asking price?
The asking price for this property is $8,200,000.
What are key features of this property?
This property features: Office building offers 3 elevators and below‑grade parking options; Shared amenities include kitchen/break room, exterior patio/deck, and a gym with shower facilities; TI allowance available for credit tenants
