560 21st St SE

For Sale

560 21st St SE, Salem, OR 97301

This Salem property for sale is located at 560 21st St SE. The current listed sale price for 560 21st St SE is $7,300,000. 560 21st St SE is situated on a lot that is 3.1 acre in size.

Contacts

broker

Nathan Getty

Macadam Forbes

Property Details

  • Property Type Industrial - Manufacturing
  • Property Size 65,597 SF
  • Lot Size 3.1 Acre
  • Additional Rent Contact for pricing
  • Year Built 1955
  • Date Updated Nov 15, 2024
  • HVAC None
The property provides close proximity to I-5, providing easy access for businesses seeking convenient transportation links.This prime commercial real estate asset represents a highly attractive investment opportunity within the cannabis industry. Spanning 65,597 square feet, the property has undergone extensive redevelopment over the past nine years, resulting in a modern and fully upgraded facility. It houses a diverse roster of cannabis industry tenants who are committed long-term, with many having secured renewal options and fully contributed to their tenant improvements (TIs). These tenants operate as true NNN lessees and are sub-metered for electrical use. The property features significant infrastructure enhancements, including paved parking, stormwater improvements, fencing, heavy electrical, lighting, membrane roofing, and access control. All tenants are compliant with state and city regulations, holding the required permits for cannabis production, processing, or distribution. The property owners have also maintained positive relationships with the neighborhood association, city planning and building departments. Situated on 3.1 acres, the facility includes an additional building and a gravel lot. The accessory building is currently leased to a contractor on a month-to-month basis for storage, while a portion of the gravel lot is rented out for fleet parking. This additional space not only generates supplementary income but also offers potential for further development. Located centrally in the Willamette Valley, the property benefits from easy access to I-5, Hwy 22, and Hwy 99 West. The favorable zoning in Salem further enhances its appeal for cannabis-related activities. With an 8% cap rate, this asset presents a compelling investment opportunity, offering substantial growth potential and a promising return on investment for those looking to capitalize on the expanding cannabis market.Warehouse and Fenced Storage Yard Available

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Highlights

  • Heavy Electrical
  • Membrane Roofing
  • Access Control
  • Paved Parking

Attachments

Getting around

  • 60/100

    Walk Score ®

  • 40/100

    Transit Score ®

  • 79/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Salem, OR
  • Neighborhood Southeast Salem
  • Zip Code 97301
  • Market Eugene

Points of Interest

  • Salem

    0.55 miles

  • Brooks Historical Society Depot

    8.71 miles

  • Hopmere Station

    8.79 miles

  • ChargePoint

    0.29 miles

  • Shell

    0.31 miles

  • Arco

    0.38 miles

  • City of Salem Fuel Island

    0.49 miles

  • Pacific Pride

    0.51 miles

  • Blink

    0.54 miles

  • Tesla Supercharger

    0.80 miles

  • Arco Gas Station

    1.32 miles

  • 76

    1.33 miles

  • Chevron

    1.53 miles

  • Roberson's Car Wash

    1.11 miles

  • Big Red Car Wash

    1.51 miles

  • Enterprise

    1.61 miles

  • Washman

    1.71 miles

  • Car'l B Klean Self Serve

    1.71 miles

  • Blue Elephant

    1.98 miles

  • Power Kia

    2.04 miles

  • John's Car Wash

    2.14 miles

  • Magic Touch

    2.33 miles

  • Habanero's Mexican Food

    0.33 miles

  • Sybil's Omelettes

    0.37 miles

  • Habanero's

    0.40 miles

  • State Street Pub & Grill

    0.40 miles

  • Momiji Sushi

    0.40 miles

  • King Donuts

    0.43 miles

  • Word of Mouth Bistro

    0.43 miles

  • The Chicken Shanty

    0.44 miles

  • Popeyes

    0.45 miles

  • Carl's Jr.

    0.45 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Nathan Getty

Macadam Forbes