408 Lancaster NE Dr Salem, OR 97301

This exceptional investment opportunity presents a fully leased, 8,120 square foot medical and commercial office complex situated on a 0.81-acre lot in Salem, Oregon. The property, comprised of three buildings, boasts a strong 100% occupancy rate and a stabilized net operating income (NOI) of $133,218, yielding a 7.30% cap rate. Building 1 houses a dental group, while Building 2 accommodates a diverse tenant mix including a hair salon, driving school, and accountant's office. Building 3 is occupied by a church. Recent capital improvements include new roofs and HVAC units in several spaces, along with interior remodels, ensuring long-term value and reduced maintenance costs. The property is offered at $1,825,000, translating to a price per square foot of $225. This Class B property operates under a triple net (NNN) lease structure with rent bumps in place, providing a secure and predictable income stream. The prime Lancaster Drive location, within a cluster of medical and dental offices, further enhances its appeal and potential for future growth. This is a rare opportunity to acquire a high-performing, multi-tenant commercial property in a desirable Salem location. The property's strong tenant base, recent renovations, and excellent location make it an ideal investment for discerning buyers seeking stable returns and long-term appreciation.