First Commercial Real Estate

FEATURED LISTING

This centrally located multi-family property features eight, single-story four-plex buildings situated on 1.87 acres. Built in 1957, the community offers mature landscaping and significant above-code parking. Each four-plex shares a dedicated laundry room, enhancing tenant convenience. Centrally positioned near essential services, public transportation and only five blocks from grocery, this property presents a strong investment opportunity with long-term potential. Recent improvements include new roofs on all buildings.

Highlights

• Priced at $123,438/unit
• 6% cap rate based on current rents
• Rents below market at $907-1,075/unit
• No seller financing

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FEATURED LISTING

This 47,636 SF distribution warehouse that sits four feet above grade is located alongside Interstate 5 in Marion County. The secure 2.36 acres site is completely fenced and gated and is anchored by a distribution company that is storing, shipping and receiving goods out of warehouse bay’s 1 and 2. The other user is located in warehouse bay 4 is a career technical education center for emergency services through Chemeketa Community College. Tenant will have exclusive use of
warehouse bay 3, on-site office trailer, up to a 10,000 SF paved yard area and designated dock-high loading dock that sits adjacent to the warehouse bay 2 ramp which allows for fork-lift access up and into the building from the parking lot level.

Warehouse  ≈11,200 SF
Lease Rate $0.85/SF/MO,  MG

Yard Space ≈10,000 SF
Lease Rate $0.10/SF/MO,  MG

Office Trailer 864 SF
Lease Rate $1.15/SF/MO,  MG

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RECENT CLOSING

The south Salem retail vacancy is a little lower due to Jennifer Martin and Ruth Dana leasing up the remaining suite at Winding Way Court located at 4093 Commercial St SE. Kelly Morris, owner and founder of Daily Elite Health & Wellness, offering direct primary care, managed weight loss programs, IV health and wellness infusions, as well as thyroid and hormone optimization recently leased Suite 120, located next to Central Willamette Credit Union.  This lease solidifies this property as a professional and medical service oriented center.

SIZE: 1,421 SF
LEASED: FEBRUARY 2025
ZONE: COMMERCIAL RETAIL

COMMUNITY SPOTLIGHT