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Property profile & analytics
OFF-MARKET Estimated value $1,360,000
Warehouses

1920 Mcgilchrist SE St Salem, OR 97302-1561

3,968 SF 1.23 ac lot Built 1978
Individually Owned 4-yr Hold Free & Clear
Property ID
US71-0523006
Property summary
AI-generated 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
Verified
Property type Warehouses
Use group MINI-WAREHOUSE, STORAGE
Year built 1978
Total area 3,968 SF
Lot 1.23 ac (53,579 SF)
Zoning code IC
APN 073W35DB04400
UPID US71-0523006
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Resilient Human Performance Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.36M
Blend (final) Blend
$1.36M
Owner & transaction history
Legacy III Family Limited Partnersh · 4 yrs held
Legacy III Family Limited Partnersh
since 2021
7 recorded transactions
2021
Price N/A
2018
Price N/A
2010
Price N/A
2009
Price N/A
1998
Price N/A
1983
Price N/A
1969
Price N/A
Zoning & alternative use
IC · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Industrial and Employment Zone: EC, IC, IBC, and IP Buildings and accessory structures Min. 5 ft. Type A Vehicle use areas Industrial and Employment Zone: IG Buildings and accessory structures Min 10 ft. Type C Vehicle use areas Limitations and Qualifications (1) Zone-to-zone setbacks are not required abutting an alley. (2) Notwithstanding qualification (1)…

Zone name Industrial Commercial
General category INDUSTRIAL
Zone area 1,285.18 ac
Source code of ordinances
Top alternative use upside
Auto repair, garage $1.4M +47.1%
Medical building $1.3M +39.3%
Office building $1.3M +30.8%
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