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    1920 Mcgilchrist St Salem, OR 97302

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    For Lease
    Contact for pricing

    Industrial Flex Space, 4,000 SF Total

    Lot size:
    4,000 SF

    Property Features for 1920 Mcgilchrist St

    General Information

    Property type
    Flex space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,000 SF
    Class
    C
    Total Rate
    4400

    Building Details

    Year Renovated
    2013
    Stories
    1

    Spaces For Lease

    at 1920 Mcgilchrist St, Salem, OR 97302 Contact us
    Unit 2560 19th

    $15 /Mo

    Size
    1,000 SF
    Contact us
    Unit 2540 19th

    $16 /Mo

    Size
    4,000 SF
    Contact us
    Unit 2532

    $13 /Mo

    Size
    1,000 SF
    Contact us

    We can help!

    Listing Contact
    Ian Levin
    Ian Levin

    Listing Agency: Nathan Levin Co Listing Agent: Ian Levin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This Salem, Oregon industrial flex space, located at 1920 McGilchrist St SE (cross street: 19th St SE), offers 4,000 square feet of versatile space in a single-story, Class C building. Completely renovated in 2013, the property boasts a 14-foot ceiling height and features one drive-in door. The 400 amp, 110/220V, 1-phase power supply is suitable for a variety of uses. With a 70-foot frontage, the building is zoned for industrial commercial purposes. The property is part of the Salem Business Park I, a multi-tenant complex established in the early 1980s, with each building fully insulated and air-conditioned. The rent is modified gross, including base year property taxes, base building insurance, and exterior maintenance. Tenants are responsible for their utilities. The property is currently fully vacant and ready for immediate occupancy. This is an excellent opportunity for businesses seeking flexible, well-maintained space in a convenient Salem location. The property's convenient location and updated features make it an ideal choice for a variety of businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Resilient Human Performance Gym & Fitness Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.0207706
    Latitude
    44.9163991

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    FAQs

    What type of property is this?
    Flex space - Industrial Flex Space, 4,000 SF Total
    Where is this flex space located?
    The property is located at 1920 Mcgilchrist St Salem, OR.
    What is the lease rate?
    The lease rate is $13-$16 SF/Yr.
    What are key features of this property?
    This property features: 4,000 SF single-story Class C industrial flex space in Salem, OR.; Completely renovated in 2013 with 14' ceilings and one drive-in door.; 400 amp, 110/220V, 1-phase power.
    (971) 707-4590 Call to check price and availability
    Request Owner's contact information
    1920 Mcgilchrist St Salem, OR 97302
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    Salem, OR 97302
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1920 Mcgilchrist St Salem, OR 97302
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    Contact for Pricing
    Please call us for current price
    and status of this listing Ian Levin
    Ian Levin
    Real Estate License ID: 200510306
    (971) 707-4590 (503) 383-8173
    Learn more
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