Turn-Key Veterinary Clinic
For Sale
$575,000
5498 Commercial St SE, Salem, OR 97306
Freestanding commercial building delivered vacant with an interior buildout designed for veterinary clinic operations.
Property Size2,940 SF
Lot Size0.20 Acres
Price / SF$195.58
Days on Market48
Property Features for 5498 Commercial St SE
General Information
Standard status
Active
Size
2,940 SF
Lot size
0.20 Acres
Property subtype
Retail
Site & Location
Traffic Count
30,600 vehicles/day
Road Access
Yes
Building Details
Building Size
2,940 SF
Year Built
1959
Listing Agency:
Capacity Commercial Group
Listed By:
Nick Williams, CCIM · License #201230204
(503) 569-4449
Source:
Capacitycommercial
Added: Jul 20
Changed: Sep 3
Last Checked: Sep 5 at 6:16AM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
This freestanding commercial building is improved and delivered as a turn-key veterinary clinic. The interior includes treatment areas, reception, and support spaces, creating a functional layout for continued veterinary use or adaptation for related medical, professional, or service-oriented occupancies. The property will be delivered vacant, providing flexibility at closing or lease commencement.
The building is located on Commercial St SE in Salem, OR, on an approximately 0.2-acre site. Reported average daily traffic is approximately 30,600 vehicles per day along this active arterial corridor, supporting strong visibility and frontage for an occupant serving the surrounding community.
The building is located on Commercial St SE in Salem, OR, on an approximately 0.2-acre site. Reported average daily traffic is approximately 30,600 vehicles per day along this active arterial corridor, supporting strong visibility and frontage for an occupant serving the surrounding community.
Key Highlights
- Freestanding commercial building delivered vacant, ready for tenant occupancy at closing or lease commencement.
- 2,940 SF building on about 0.2 acres with an interior buildout designed for continued veterinary clinic use.
- Existing layout includes treatment areas, reception, and support spaces suited to veterinary or related healthcare/professional/service occupancies.
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
$40,484
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
7.04%
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%
$809,680
$809.7K
Cap Rate 7%
$578,343
$578.3K
Cap Rate 9%
$449,822
$449.8K
Market Conditions
NOI Build-Up for 2,940 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
$63.5K $21.60/SF
− Vacancy
−$9.5K −$3.24/SF
EGI
$54.0K $18.36/SF
− OpEx
−$13.5K −$4.59/SF
NOI
$40.5K $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 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%
$809,680
Cap Rate 7%
$578,343
Cap Rate 9%
$449,822
Alternative Uses
Best Use
Office B
$578.3K
$506.1K – $674.7K
NOI $40,484 @ 7.0% cap · market cap 7.04%
Second Best
Healthcare Medical
$562.5K
$492.2K – $656.2K
NOI $39,372 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$780.6K
$683.0K – $910.7K
NOI $54,642 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,600 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Animal Care Center Veterinary Clinic — 5498 Commercial St SE, Salem, OR 97306
- Douglas M. Slama , DVM — 5498 Commercial St SE, Salem, OR 97306
- Kuebler No Frills Pet Clinic — 5048 Commercial St SE, Salem, OR 97306
Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding commercial building delivered vacant with an interior buildout designed for veterinary clinic operations.
Where is this medical office space located?
The property is located at 5498 Commercial St SE Salem, OR.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Freestanding commercial building delivered vacant, ready for tenant occupancy at closing or lease commencement.; 2,940 SF building on about 0.2 acres with an interior buildout designed for continued veterinary clinic use.; Existing layout includes treatment areas, reception, and support spaces suited to veterinary or related healthcare/professional/service occupancies.
