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The Hatcher Group of Marcus & Millichap is pleased to exclusively offer for sale Salem Self Storage North located in Salem, Oregon. The facility consists of 240 non-climate-controlled units totaling 38,200 net rentable square feet. There are also 46 parking spaces available for rent. This is a stabilized cash flowing facility that is currently 93% physically occupied. The property is fully fenced with an on-site management office, and 24-hour video surveillance.
Located about 40 miles from Portland, this facility benefits from a rapidly growing surrounding population. The population within five miles of the facility is 184,112, which represents a 25% increase since 2000 and is expected to continue to grow over the next five years. They are located less than half a mile from Interstate 5 and also Oregon Route 99E Business which has high daily traffic counts of 99,100 cars per day and 25,100 cars per day respectively.
Salem Self Storage North is being offered for $7,500,000 or $196.34 per rentable square foot.
Population
In 2021, the population in your selected geography is 184,112. The population has changed by 25.4 percent since 2000. It is estimated that the population in your area will be 192,017 five years from now, which represents a change of 4.3 percent from the current year. The current population is 49.6 percent male and 50.4 percent female. The median age of the population in your area is 34.7, compared with the U.S. average, which is 38.4. The population density in your area is 2,338 people per square mile.
Households
There are currently 67,294 households in your selected geography. The number of households has changed by 25.9 percent since 2000. It is estimated that the number of households in your area will be 70,510 five years from now, which represents a change of 4.8 percent from the current year. The average household size in your area is 2.6 people.
Income
In 2021, the median household income for your selected geography is $55,970, compared with the U.S. average, which is currently $65,694. The median household income for your area has changed by 50.5 percent since 2000. It is estimated that the median household income in your area will be $58,008 five years from now, which represents a change of 3.6 percent from the current year.
The current year per capita income in your area is $26,679, compared with the U.S. average, which is $36,445. The current year’s average household income in your area is $71,571, compared with the U.S. average, which is $94,822.
Employment
In 2021, 87,931 people in your selected area were employed. The 2000 Census revealed that 56.5 percent of employees are in white-collar occupations in this geography, and 43.5 percent are in blue-collar occupations. In 2021, unemployment in this area was 6.0 percent. In 2000, the average time traveled to work was 18.5 minutes.
Housing
The median housing value in your area was $237,528 in 2021, compared with the U.S. median of $227,827. In 2000, there were 30,151 owner-occupied housing units and 23,300 renter-occupied housing units in your area. The median rent at the time was $484.
Education
The selected area in 2021 had a lower level of educational attainment when compared with the U.S. averages. Only 7.6 percent of the selected area’s residents had earned a graduate degree compared with the national average of 12.0 percent, and 14.5 percent completed a bachelor’s degree, compared with the national average of 19.5 percent.
The number of area residents with an associate degree was higher than the nation’s at 8.8 percent vs. 8.3 percent, respectively.
The area had fewer high-school graduates, 26.6 percent vs. 27.2 percent for the nation, but the percentage of residents who completed some college is higher than the average for the nation, at 25.5 percent in the selected area compared with the 20.5 percent in the U.S.
■ Portland, Oregon MSA Self Storage Offering
■ 38,200 Net Rentable Square Feet
■ 240 Non-Climate Controlled Units
■ 46 Parking Spaces
■ Stabilized Facility: 92.90% Physically Occupied
■ Close Proximity to I-5 and Oregon Route 99E Business
■ Dense & Growing Population: 184,112 People Living Within a Five-Mile Radius – Represents a 25% Increase Since 2000
