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33867488
33867484

421 Lancaster Drive Northeast, Salem, OR 97301

EG
OR 201235586
Marcus & Millichap - Portland
Listed by Marcus & Millichap - Portland
$2,450,000
1 day on market
Updated 1 day ago

421 Lancaster Drive Northeast

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,208
Net Rentable (SqFt) 14,208
Cap Rate 7.05%
NOI $172,761
Occupancy 100%
Tenancy Single
Brand/Tenant DaVita
Lease Type NNN
Class B
Year Built 1994
Year Renovated 2016
Acreage 1.090
Tenant Credit Corporate Guarantee
Ground Lease No

NNN Lease Davita Dialysis | 7.05% Cap Rate | Strong Healthcare Location

Marketing description

MARCUS & MILLICHAP HAS BEEN EXCLUSIVELY CHOSEN TO MARKET DAVITA DIALYSIS in Salem is a 14,208 SF healthcare facility situated on a 1.09-acre parcel within the highly trafficked Salem Valley Shopping Center, offering strong visibility along Lancaster Dr NE, one of the city’s primary commercial thoroughfares. Originally built in 1994, the property benefits from a strategic location among established national and regional tenants including IHOP, Domino’s, Tire Experts, Original Roadhouse Grill, and more, creating consistent daily traffic to the center. The property is also positioned near Willamette Town Center, home to major retailers such as Dollar Tree, Regal, Target, and Rite Aid, further strengthening the area’s retail draw and consumer activity. Surrounded by dense residential neighborhoods and nearby apartment communities, the asset benefits from a built-in customer base and strong demographic support. Additionally, the property is shadow anchored by WFMC Health, a well-established healthcare provider that enhances foot traffic, visibility, and tenant synergy, positioning the area as a convenient hub for healthcare and daily service needs.

Investment highlights

Healthcare Synergy

Established Tenancy

NNN Lease Structure

Listing Contacts

EG
OR 201235586
Marcus & Millichap - Portland
Listed by Marcus & Millichap - Portland

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$172,761.00
$14,396.75/mo

Valuation Metrics

0
DSCR
7.05%
Cap Rate
7.05%
ROI

Map

Zoning

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CR CommercialRetail CommercialCommercial Retail
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Last updated May 14, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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