675 Orchard Heights Rd - Medical FOR SALE


Salem, OR 97304- West Salem
$5,580,000 USD
503-559-9279
675 Orchard Heights Rd, Salem, OR for Sale
$5,580,000 USD
Medical - FOR SALE
1/59
null | 6.76% Cap Rate

675 Orchard Heights Rd
Salem, OR 97304
West Salem


HIGHLIGHTS

  • High Occupancy with Anchor Stability: 92.9% leased to creditworthy tenants on long-term NNN agreements, anchoring cash flow reliability.
  • Minimal Owner Overhead: Annual operating expenses capped at ~$10,000, maximizing NOI efficiency.
  • 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.
  • Versatile Zoning Advantage: Flexible Retail Commercial designation allows for adaptive reuse, enhancing future-proofing.

OVERVIEW

Situated at 675 Orchard Heights Road NW in Salem, Oregon, Orchard West is an 18,413 square foot, two-story multi-tenant office building on a full acre of land. Recently renovated to a high standard, the property features modern finishes and a 4.5:1,000 parking ratio, ensuring ample on-site parking for tenants and visitors. Zoned Flexible Retail Commercial by the City of Salem, it offers versatility for office, retail, or mixed-use applications. Currently 92.9% occupied, the building generates stable cash flow through a diversified tenant mix, all on triple-net (NNN) leases, minimizing owner expenses to approximately $10,000 annually.

FOR SALE DETAILS

PRICE

$5,580,000 USD

PRICE/SF

$286 USD /SF

CAP RATE

6.76%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

54

LAND DETAILS

LAND ACRES

1.04 AC

LAND SF

45,302 SF

ZONING

CR

APN/PARCEL ID

550691

ASK ABOUT THIS PROPERTY

AJ NashTradition Real Estate PartnersMore Info
503-559-9279

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AJ NashTradition Real Estate PartnersMore Info
503-559-9279

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.