Office Building For
For Sale
$5,585,000
675 Orchard Heights RD NW, Salem, OR 97304
Office building available for sale at 675 Orchard Heights RD NW, offering a property designed for professional office use.
Property Size18,413 SF
Days on Market50
Property Features for 675 Orchard Heights RD NW
General Information
Standard status
Active
Size
18,413 SF
Class
B
Property subtype
Office
Building Details
Building Size
18,413 SF
Year Built
1999
Listing Agency:
Tradition Real Estate Partners
(503) 559-9279
Listed By:
AJ Nash | Partner · License #OR #201208908
Source:
Traditionrep
Added: Jun 24
Changed: Aug 9
Last Checked: Aug 12 at 4:31AM
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
Investment Insights
Based on property information with market context.
This offering is for an office building presented as commercial real estate for sale. The property type is listed as office buildings and office spaces, indicating it is intended to serve business and professional office users. As with most office-focused properties, the space configuration is typically aligned with tenant operations, supporting day-to-day work environments and administrative functions.
The property is located at 675 Orchard Heights RD NW in Salem, Oregon. The listing information is provided for the subject address, giving buyers a defined location to evaluate for their office strategy and operational needs.
For prospective tenants, buyers, and brokers, this is a straightforward office-oriented asset to evaluate for occupancy or ownership. If you are looking to lease or purchase an office building or office space, the property’s commercial office designation makes it a relevant fit for organizations that require dedicated business space. Buyers can use the defined address to coordinate due diligence on access, layout, and condition during the underwriting process. Brokers and tenants may also review how an office-focused building aligns with their staffing, workflow, and space planning requirements, based on the specifics that will be confirmed through the available documentation and on-site inspection.
The property is located at 675 Orchard Heights RD NW in Salem, Oregon. The listing information is provided for the subject address, giving buyers a defined location to evaluate for their office strategy and operational needs.
For prospective tenants, buyers, and brokers, this is a straightforward office-oriented asset to evaluate for occupancy or ownership. If you are looking to lease or purchase an office building or office space, the property’s commercial office designation makes it a relevant fit for organizations that require dedicated business space. Buyers can use the defined address to coordinate due diligence on access, layout, and condition during the underwriting process. Brokers and tenants may also review how an office-focused building aligns with their staffing, workflow, and space planning requirements, based on the specifics that will be confirmed through the available documentation and on-site inspection.
Key Highlights
- Office building built in 1999
- For sale at 675 Orchard Heights Rd NW
- Designed for professional office use
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
$253,547
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
4.54%
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%
$5,070,940
$5.1M
Cap Rate 7%
$3,622,100
$3.6M
Cap Rate 9%
$2,817,189
$2.8M
Market Conditions
NOI Build-Up for 18,413 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
$397.7K $21.60/SF
− Vacancy
−$59.7K −$3.24/SF
EGI
$338.1K $18.36/SF
− OpEx
−$84.5K −$4.59/SF
NOI
$253.5K $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%
$5,070,940
Cap Rate 7%
$3,622,100
Cap Rate 9%
$2,817,189
Alternative Uses
Best Use
Office B
$3.62M
$3.17M – $4.23M
NOI $253,547 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.89M
$4.28M – $5.70M
NOI $342,217 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
506
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office building available for sale at 675 Orchard Heights RD NW, offering a property designed for professional office use.
Where is this office building located?
The property is located at 675 Orchard Heights RD NW Salem, OR.
What is the asking price?
The asking price for this property is $5,585,000.
What are key features of this property?
This property features: Office building built in 1999; For sale at 675 Orchard Heights Rd NW; Designed for professional office use
