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Property profile & analytics
OFF-MARKET Estimated value $5,870,000
Warehouses

200 Hawthorne SE Ave Salem, OR 97301-5054

19,200 SF 4.79 ac lot Built 1993
Entity Owned 24-yr Hold ~ Est. High Equity
Property ID
US71-0834099
Property summary
AI-generated overview

Park 5 Business Center offers exceptional executive office space in Salem, Oregon. This seven-building complex, situated on a 10.88-acre lot at 200 Hawthorne Ave SE (cross streets: I-5, State Street), boasts a total of 103,300 square feet of office space. The property is classified as Class B and features single-story buildings. Currently, there are 38,392 square feet of vacant space available, divisible into units ranging from a minimum of 750 square feet to a maximum contiguous space of 4,965 square feet. The property's Commercial Industrial zoning (IC) allows for a variety of uses, including office, retail, flex, and light industrial. Its central Salem location provides convenient access and ample parking. This is an excellent opportunity for businesses seeking flexible and well-located office space in a thriving Oregon community. The property is located in Marion County, Oregon, zip code 97301. The property is ideal for businesses seeking multiple suites or larger contiguous spaces.

Property profile
Verified
Property type Warehouses
Use group MINI-WAREHOUSE, STORAGE
Year built 1993
Total area 19,200 SF
Lot 4.79 ac (208,652 SF)
Zoning code IC
APN 073W25D 01000
UPID US71-0834099
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
  • Silke Communications: Salem Electronics & Wireless Store
  • ODEC Medical Transport Freight Service Logistics Company
  • Numotion Production Facility
  • Columbia Distributing Distribution Center Logistics Company
  • oregon aclb Local Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$5.93M
Blend (final) Blend
$5.87M
Owner & transaction history
Park 5 Center LLC · 24 yrs held
Park 5 Center LLC
since 2002
6 recorded transactions
2017
Price N/A
2002
Price N/A
1997
Price N/A
1996
Price N/A
1991
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
Restaurant $8.5M +126.7%
Auto repair, garage $6.9M +83.6%
Medical building $6.5M +73.8%
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