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Stabilized Asset with Strong Fundamentals 675 Orchard Heights Rd 19,500 SF 64% Leased Office Building Salem, OR 97304 $7,646,888 CAD ($392.15 CAD/SF) 6.76% Cap Rate
Investment Highlights
- High Occupancy with Anchor Stability: 92.9% leased to creditworthy tenants on long-term NNN agreements, anchoring cash flow reliability.
- Prime Affluent Locale: Positioned in West Salem, Salem's highest-income neighborhood, with median household incomes exceeding $90,000
- Versatile Zoning Advantage: Flexible Retail Commercial designation allows for adaptive reuse, enhancing future-proofing.
- Minimal Owner Overhead: Annual operating expenses capped at ~$10,000, maximizing NOI efficiency.
- Versatile Zoning Advantage: Flexible Retail Commercial designation allows for adaptive reuse, enhancing future-proofing.
Executive Summary
Property Facts
Amenities
- Signage
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Two months free months with minimum lease term. Two room suite with a front room for a waiting area and a private back room with great natural light with a large window
Two months free months with minimum lease term. Turn-Key medical space with 6 exam rooms, one with a sink, waiting/reception area, two private bathrooms, plus storage area. This space has a private entrance. Sublease through December 31, 2025
Two months free months with minimum lease term. Office space with a waiting/reception area with a sink and cabinets, along with 2 private offices with great natural lighting. Common area restrooms.
Two months free months with minimum lease term. Fantastic office space near a main entrance. Includes a waiting/reception area, 7 private offices, a storage room, kitchen/break area and open work area. Common area restrooms
Previous barber space. Open floor plan with LVP flooring, and one private room that has plumbing. Common area restrooms
Mainly open floor plan with a small kitchenette area with sink and cabinets. Hard flooring throughout. This space is a sublease.
| Space | Size | Space Use | Build-Out | Available |
| 1st Fl-Ste 160 | 479 SF | Office | - | Now |
| 1st Fl-Ste 180 | 2,245 SF | Office/Medical | - | Now |
| 1st Fl-Ste 210 | 936 SF | Office/Retail | - | Now |
| 1st Fl-Ste 220 | 2,532 SF | Office/Retail | - | Now |
| 2nd Fl-Ste 250 | 824 SF | Office/Retail | - | May 2026 |
| 2nd Fl-Ste 270 | 907 SF | Office/Retail | - | Now |
1st Fl-Ste 160
| Size |
| 479 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Now |
1st Fl-Ste 180
| Size |
| 2,245 SF |
| Space Use |
| Office/Medical |
| Build-Out |
| - |
| Available |
| Now |
1st Fl-Ste 210
| Size |
| 936 SF |
| Space Use |
| Office/Retail |
| Build-Out |
| - |
| Available |
| Now |
1st Fl-Ste 220
| Size |
| 2,532 SF |
| Space Use |
| Office/Retail |
| Build-Out |
| - |
| Available |
| Now |
2nd Fl-Ste 250
| Size |
| 824 SF |
| Space Use |
| Office/Retail |
| Build-Out |
| - |
| Available |
| May 2026 |
2nd Fl-Ste 270
| Size |
| 907 SF |
| Space Use |
| Office/Retail |
| Build-Out |
| - |
| Available |
| Now |
1st Fl-Ste 160
| Size | 479 SF |
| Space Use | Office |
| Build-Out | - |
| Available | Now |
Two months free months with minimum lease term. Two room suite with a front room for a waiting area and a private back room with great natural light with a large window
1st Fl-Ste 180
| Size | 2,245 SF |
| Space Use | Office/Medical |
| Build-Out | - |
| Available | Now |
Two months free months with minimum lease term. Turn-Key medical space with 6 exam rooms, one with a sink, waiting/reception area, two private bathrooms, plus storage area. This space has a private entrance. Sublease through December 31, 2025
1st Fl-Ste 210
| Size | 936 SF |
| Space Use | Office/Retail |
| Build-Out | - |
| Available | Now |
Two months free months with minimum lease term. Office space with a waiting/reception area with a sink and cabinets, along with 2 private offices with great natural lighting. Common area restrooms.
1st Fl-Ste 220
| Size | 2,532 SF |
| Space Use | Office/Retail |
| Build-Out | - |
| Available | Now |
Two months free months with minimum lease term. Fantastic office space near a main entrance. Includes a waiting/reception area, 7 private offices, a storage room, kitchen/break area and open work area. Common area restrooms
2nd Fl-Ste 250
| Size | 824 SF |
| Space Use | Office/Retail |
| Build-Out | - |
| Available | May 2026 |
Previous barber space. Open floor plan with LVP flooring, and one private room that has plumbing. Common area restrooms
2nd Fl-Ste 270
| Size | 907 SF |
| Space Use | Office/Retail |
| Build-Out | - |
| Available | Now |
Mainly open floor plan with a small kitchenette area with sink and cabinets. Hard flooring throughout. This space is a sublease.
Property Taxes
| Parcel Number | 550691 | Improvements Assessment | $862,439 CAD |
| Land Assessment | $1,331,395 CAD | Total Assessment | $2,193,834 CAD |
Property Taxes
Presented by
Stabilized Asset with Strong Fundamentals | 675 Orchard Heights Rd
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