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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 $6,174,473 CAD ($571.71 CAD/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 (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$463,628
|
$42.93
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$23,181
|
$2.15
|
| Effective Gross Income |
$440,448
|
$40.78
|
| Taxes |
$6,693
|
$0.62
|
| Operating Expenses |
$1,537
|
$0.14
|
| Total Expenses |
$8,230
|
$0.76
|
| Net Operating Income |
$432,217
|
$40.02
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $463,628 |
| Annual Per SF | $42.93 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $23,181 |
| Annual Per SF | $2.15 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $440,448 |
| Annual Per SF | $40.78 |
| Taxes (CAD) | |
|---|---|
| Annual | $6,693 |
| Annual Per SF | $0.62 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $1,537 |
| Annual Per SF | $0.14 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $8,230 |
| Annual Per SF | $0.76 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $432,217 |
| Annual Per SF | $40.02 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
10,800 SF
Building Class
B
Year Built
2019
Price
$6,174,473 CAD
Price Per SF
$571.71 CAD
Cap Rate
7%
NOI
$432,213 CAD
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 | $2,381,027 CAD (2025) |
| Land Assessment | $87,131 CAD (2025) | Annual Taxes | $6,693 CAD ($0.62 CAD/SF) |
| Improvements Assessment | $2,293,896 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
258911
Land Assessment
$87,131 CAD (2025)
Improvements Assessment
$2,293,896 CAD (2025)
Total Assessment
$2,381,027 CAD (2025)
Annual Taxes
$6,693 CAD ($0.62 CAD/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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