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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 $6,046,774 CAD ($559.89 CAD/SF) 7% Cap Rate
Investment Highlights
- 7.0% CAP RATE ACTUAL INCOME with 5% for vacancy
- THREE (3) TENANT Clinical Medical Facility
- Owner willing to consider Seller Financing contingent on the Terms and Conditions in Buyer’s offer
- 100% FULLY LEASED INVESTMENT OFFERING
- FULLY SPRINKELED WITH DRY & WET SUPPRESSION SYSTEM
Executive Summary
100% LEASED
Owner willing to consider Seller Financing contingent on the Terms and Conditions in Buyer’s offer
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.
Owner willing to consider Seller Financing contingent on the Terms and Conditions in Buyer’s offer
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 |
$454,040
|
$42.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$22,701
|
$2.10
|
| Effective Gross Income |
$431,338
|
$39.94
|
| Taxes |
$6,555
|
$0.61
|
| Operating Expenses |
$1,505
|
$0.14
|
| Total Expenses |
$8,060
|
$0.75
|
| Net Operating Income |
$423,278
|
$39.19
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $454,040 |
| Annual Per SF | $42.04 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $22,701 |
| Annual Per SF | $2.10 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $431,338 |
| Annual Per SF | $39.94 |
| Taxes (CAD) | |
|---|---|
| Annual | $6,555 |
| Annual Per SF | $0.61 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $1,505 |
| Annual Per SF | $0.14 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $8,060 |
| Annual Per SF | $0.75 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $423,278 |
| Annual Per SF | $39.19 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
10,800 SF
Building Class
A
Year Built
2019
Price
$6,046,774 CAD
Price Per SF
$559.89 CAD
Cap Rate
7%
NOI
$423,274 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
1 1
Bike Score®
Very Bikeable (73)
Property Taxes
| Parcel Number | 258911 | Total Assessment | $2,289,829 CAD (2025) |
| Land Assessment | $83,793 CAD (2025) | Annual Taxes | $6,555 CAD ($0.61 CAD/SF) |
| Improvements Assessment | $2,206,036 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
258911
Land Assessment
$83,793 CAD (2025)
Improvements Assessment
$2,206,036 CAD (2025)
Total Assessment
$2,289,829 CAD (2025)
Annual Taxes
$6,555 CAD ($0.61 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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