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525 Glen Creek Rd NW
Salem, OR 97304
21 Oaks Professional Bldg · Office Property For Sale
Investment Highlights
- Suite sizes range from 403 SF - 1,273 SF
- 3.8:1000 parking ratio.
- Upside potential with rents
- Full Service Lease rates less janitorial
- Good occupancy history
Executive Summary
21 Oaks is a multi-tenant office building in West Salem with great visibility, a wonderful location, amazing views, and priced at a fraction of replacement cost. With many of the leases far below market rent, there is tremendous upside potential with this iconic building.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
14,873 SF
Building Class
B
Year Built
1982
Price
$2,240,000
Price Per SF
$150.61
Cap Rate
7.51%
NOI
$168,215
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
4,958 SF
Building FAR
0.40
Lot Size
0.86 AC
Zoning
MU-III
Parking
40 Spaces (2.69 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
- Central Heating
- Natural Light
- Wi-Fi
- Air Conditioning
Property Taxes
| Parcel Number | 312545 | Improvements Assessment | $1,226,790 |
| Land Assessment | $415,600 | Total Assessment | $1,642,390 |
Property Taxes
Parcel Number
312545
Land Assessment
$415,600
Improvements Assessment
$1,226,790
Total Assessment
$1,642,390
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