1025 2nd NW St Salem, OR 97304-4001
Property profile & analytics
1025 2nd NW St Salem, OR 97304-4001
- Medical Office Space
- 9,702 SF
- 0.65 lot acres
Property ID
US71-1307636
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- RE_Building - Sports Physical Therapy Salem OR / Medical Clinic
- Northwest Lifestyle Medicine / Physician
- Northwest Rehabilitation Associates / Medical Clinic
- Shawn Barnes / Alternative Medicine Practice
- Dr. Joshua Wolfram / Alternative Medicine Practice
Property Details for 1025 2nd NW St
- Year built
- 2019
- Lot size
- 0.65 lot acres
- Property size
- 9,702 SF
- Zone code
- CO
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 07321-DC-04000
- APU
- 07321DC04000
Description
This exceptional Class A medical office building, constructed in 2019, offers a compelling investment opportunity. Located in Salem, Oregon, at 1025 2nd St NW, this 10,800 square foot, two-story building sits on a 0.65-acre lot. Currently 100% occupied by three tenants under a NNN lease structure, the property boasts a strong net operating income (NOI) of $340,943 and a 6.20% cap rate. The building features a mix of medical office and storefront space, making it ideal for a variety of uses. Built as a build-to-suit facility, it includes modern amenities and is equipped with solar panels, promoting sustainability. The property's prime location in West Salem ensures high visibility and accessibility. The asking price is $5,500,000, representing a stabilized investment with a fee simple ownership. This is a rare opportunity to acquire a high-quality, well-maintained property with a strong tenant base in a desirable location. The building's design caters to the needs of its current tenants, specializing in sports rehabilitation and performance training, including unique features such as professional-grade underwater treadmills. One suite remains vacant, presenting potential for additional income generation.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,165,000
- 6.5%
- $2,000,000
- 7%
- $1,855,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,558,000
- AI Estimate
- $2,894,000
Market price range: $1.83M - $4.59MMarket price range: $1.19M - $4.29M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $3,280,000 Current use
- RESTAURANT
- $4,275,000 Change: +30% Conversion: Difficult
- OFFICE BUILDING
- $2,695,000 Change: -18% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Polk
- State
- Oregon
- Longitude
- -123.055
- Latitude
- 44.9432
- CBSA code
- 41420
- CBSA name
- SALEM, OR METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$29,997
$58,250
$1,533,370
$1,591,620
-
$635,200
$2,924,870
$3,560,070
