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1250 Lancaster Dr SE Salem, OR 97317

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For Sale
$17,250,000

Fully occupied retail center anchored by WinCo with long-term tenants.

Property size:
109,289 SF
Lot size:
7.35 Acres

Property Features for 1250 Lancaster Dr SE

General Information

Size
109,289 SF
Lot size
7.35 Acres

Source: Northmarq Commercial, LLC Agent Sean Tufts

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Lancaster Drive Retail Center For Sale

This retail center is shadow anchored by a high-performing WinCo, ranking in the top five in Oregon for annual visits with over 2.2 million and annual sales exceeding $100 million. The center is 100% occupied with a weighted average lease term (WALT) of 7.50 years. A new 10-year NNN lease is in place with Urban Air, secured by a personal guarantee from the operator. The location benefits from strong daily vehicle counts, situated on a signalized corner of Lancaster Drive, a primary retail corridor with over 30,000 vehicles per day. It is adjacent to the N Santiam Highway/I-5 interchange, which experiences over 180,000 vehicles per day. Six of the seven tenants have contractual rent increases, with four being annual. Recent capital expenditures include a fresh coat of paint on the entire exterior of the anchor and in-line portion of the center. Three of the seven in-place tenants have occupied their suites for over 10 years, with two tenants having been there for over 15 years. The property size is 109289 square feet.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Shopping malls

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

Rickey Street Plaza, Coinstar Kiosk | Bitcoin ATM

Location Insight

  • Map
  • Local Demand
City
Salem
County
Marion
State
Oregon
Longitude
-122.9760465
Latitude
44.9134554

FAQs

What type of property is this?
Shopping center - Fully occupied retail center anchored by WinCo with long-term tenants.
Where is this shopping center located?
The property is located at 1250 Lancaster Dr SE Salem, OR.
What is the asking price?
The asking price for this property is $17,250,000.
What are key features of this property?
This property features: - Shadow anchored by a high-performing WinCo, ranking in the top five in Oregon with $100M+ in annual sales and 2.2M annual visits.; - 100% occupied with a Weighted Average Lease Term (WALT) of 7.50 years, ensuring long-term secured cash flow.; - New 10-year NNN lease with Urban Air, secured by a personal guarantee.
More about this property
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