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"THE RE BUILDING" 7.0% CAP RATE-100% LEASED 1025 2nd St NW 10,800 SF 100% Leased Office Building Salem, OR 97304 $4,423,228 ($409.56/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- 7.0% CAP RATE ACTUAL INCOME with 5% for vacancy
- THREE (3) TENANT Clinical Medical Facility
- Dedicated onsite parking
- 100% FULLY LEASED INVESTMENT OFFERING
- FULLY SPRINKELED WITH DRY & WET SUPPRESSION SYSTEM
EXECUTIVE SUMMARY
100% LEASED
9,702+/- SF Multi-Tenant Facility
Premier Medical & Sports Performance Center
Primary Tenant's lease runs through 9/30/2032.
Building is fully equipped and purpose-built to support a full spectrum of
medical and athletic recovery services.
Property is zoned Commercial Office (CO).
0.65+/-/AC (28,314+/-SF) Commercial Office (CO) land
within Salem's Opportunity Zone.
Building is equipped with force plates, two (2) underwater
treadmills, indoor track with firehouse-sized garage door
extending this track a full 70 meters in to the outdoors.
9,702+/- SF Multi-Tenant Facility
Premier Medical & Sports Performance Center
Primary Tenant's lease runs through 9/30/2032.
Building is fully equipped and purpose-built to support a full spectrum of
medical and athletic recovery services.
Property is zoned Commercial Office (CO).
0.65+/-/AC (28,314+/-SF) Commercial Office (CO) land
within Salem's Opportunity Zone.
Building is equipped with force plates, two (2) underwater
treadmills, indoor track with firehouse-sized garage door
extending this track a full 70 meters in to the outdoors.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$332,131
|
$30.75
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$16,606
|
$1.54
|
| Effective Gross Income |
$315,525
|
$29.22
|
| Taxes |
$4,795
|
$0.44
|
| Operating Expenses |
$1,101
|
$0.10
|
| Total Expenses |
$5,896
|
$0.55
|
| Net Operating Income |
$309,629
|
$28.67
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $332,131 |
| Annual Per SF | $30.75 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $16,606 |
| Annual Per SF | $1.54 |
| Effective Gross Income | |
|---|---|
| Annual | $315,525 |
| Annual Per SF | $29.22 |
| Taxes | |
|---|---|
| Annual | $4,795 |
| Annual Per SF | $0.44 |
| Operating Expenses | |
|---|---|
| Annual | $1,101 |
| Annual Per SF | $0.10 |
| Total Expenses | |
|---|---|
| Annual | $5,896 |
| Annual Per SF | $0.55 |
| Net Operating Income | |
|---|---|
| Annual | $309,629 |
| Annual Per SF | $28.67 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
10,800 SF
Building Class
B
Year Built
2019
Price
$4,423,228
Price Per SF
$409.56
Cap Rate
7%
NOI
$309,626
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
10,800 SF
Building FAR
0.38
Lot Size
0.65 AC
Opportunity Zone
Yes
Zoning
CO-(Commercial Office) - CO-Commercial office zoned in Salem.
AMENITIES
- Fitness Center
- Signage
- Wheelchair Accessible
- Storage Space
- Monument Signage
- Air Conditioning
- Fiber Optic Internet
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PROPERTY TAXES
| Parcel Number | 258911 | Total Assessment | $1,688,540 (2025) |
| Land Assessment | $61,790 (2025) | Annual Taxes | $4,795 ($0.44/SF) |
| Improvements Assessment | $1,626,750 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
258911
Land Assessment
$61,790 (2025)
Improvements Assessment
$1,626,750 (2025)
Total Assessment
$1,688,540 (2025)
Annual Taxes
$4,795 ($0.44/SF)
Tax Year
2024
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"THE RE BUILDING" 7.0% CAP RATE-100% LEASED | 1025 2nd St NW
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