Multi-Tenant Industrial
For Sale
$8,900,000
572-576 Patterson Street NW, Salem, OR 97304
Two single-story buildings offer flexible industrial configurations with office space, loading access, and multiple occupancy options.
Property Size65,423 SF
Lot Size4.00 Acres
Price / SF$136.04
Days on Market50
Property Features for 572-576 Patterson Street NW
General Information
Standard status
Active
Size
65,423 SF
Lot size
4.00 Acres
Property subtype
Industrial
Zoning
IG-General Industrial
Warehouse & Industrial
Clear Height
24 ft
Dock-High Doors
2
Drive-In Doors
5
Building Details
Building Size
65,423 SF
Year Built
1947
Year Renovated
2008
Buildings
2
Stories
1
Tenancy
Multi
Listing Agency:
Capacity Commercial Group
Listed By:
Curt Arthur, SIOR · License ##910200259
(503) 559-7990
Source:
Buildout
Added: Sep 1
Last Checked: Oct 19 at 5:37AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multi-tenant industrial property includes two single-story buildings totaling 65,423 SF on approximately 4 acres. The asset includes a small office component, platform loading infrastructure, staging space, and layouts that can accommodate separate occupancies. Clear heights range from 14' to 24' in the larger building, while the second structure includes multiple suite configurations and grade-level loading access.
The property is located at 572-576 Patterson Street NW in Salem, Oregon, within an industrial/retail area. Seven units are identified, and the buildings include two platform loading docks, five grade-level doors, and configurations ranging from 1,275 SF to 10,200 SF. Originally built in 1947, the property was renovated in 2008.
The property is located at 572-576 Patterson Street NW in Salem, Oregon, within an industrial/retail area. Seven units are identified, and the buildings include two platform loading docks, five grade-level doors, and configurations ranging from 1,275 SF to 10,200 SF. Originally built in 1947, the property was renovated in 2008.
Key Highlights
- 65,423 SF across two single‑story industrial buildings
- Approximately 4 acres with 7 units
- Two platform loading docks and full‑side staging area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$697,344
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,946,880
$13.9M
Cap Rate 7%
$9,962,057
$10.0M
Cap Rate 9%
$7,748,267
$7.7M
Market Conditions
NOI Build-Up for 65,423 SF
Gross rent
$863.6K $13.20/SF
− Vacancy
−$43.2K −$0.66/SF
EGI
$820.4K $12.54/SF
− OpEx
−$123.1K −$1.88/SF
NOI
$697.3K $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%
$13,946,880
Cap Rate 7%
$9,962,057
Cap Rate 9%
$7,748,267
Alternative Uses
Best Use
Warehouse
$9.96M
$8.72M – $11.62M
NOI $697,344 @ 7.0% cap · market cap 7.84%
Second Best
Flex RnD
$9.59M
$8.39M – $11.19M
NOI $671,554 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$17.37M
$15.20M – $20.27M
NOI $1,215,926 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
24 ft
Clear height
2
Dock-high doors
5
Drive-in doors
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Explore this area
Business Placement
Demographics for 97304, OR
34,102
Population
14,547
Households
2.3
Avg Household Size
40
Median Age
39%
College-Educated
93%
High-School Grad
56.8 sq mi
ZIP Area
600
Density / Sq Mi
$91,731
Median Household Income
$53,370
Median Earnings
$1,441
Median Rent
$469,500
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Industrial property - Two single-story buildings offer flexible industrial configurations with office space, loading access, and multiple occupancy options.
Where is this industrial property located?
The property is located at 572-576 Patterson Street NW Salem, OR.
What is the asking price?
The asking price for this property is $8,900,000.
What are key features of this property?
This property features: 65,423 SF across two single‑story industrial buildings; Approximately 4 acres with 7 units; Two platform loading docks and full‑side staging area
