560 21St StSalem, OR 97301

This 65,597 square foot manufacturing facility in Salem, Oregon, presents a compelling investment opportunity with an 8% cap rate and a strong NOI of $580,181. Built in 1955 and situated on 3.1 acres, the property boasts significant recent upgrades, including a new membrane roof, paved parking, enhanced stormwater management, and upgraded access control systems. The facility includes heavy electrical infrastructure and is fully compliant with all relevant city and state regulations. Currently housing a diverse roster of long-term cannabis industry tenants operating under NNN leases with sub-metered electrical usage, the property also includes an additional building leased for storage and a gravel lot used for fleet parking, generating supplemental income. The property's location in the Willamette Valley provides easy access to major highways (I-5, Hwy 22, and Hwy 99 West), and its IG zoning is favorable for cannabis-related businesses. The tenants have invested in significant tenant improvements, demonstrating their commitment to the property. This asset offers substantial growth potential within the expanding cannabis market, making it an attractive investment for those seeking a high return. The asking price is $7,300,000, resulting in a price per square foot of $111.29.