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    1570-1584 Lancaster Dr NE Salem, OR 97317

    For Lease
    $1.20 SF/Yr ($559 /Mo)

    5,592 SF bar space available in Heritage Square Shopping Center.

    Property size:
    5,592 SF
    Lot size:
    2.12 Acres

    Property Features for 1570-1584 Lancaster Dr NE

    General Information

    Size
    5,592 SF
    Lot size
    2.12 Acres

    Source: Coldwell Banker Commercial - Mountain West | Salem Agent Alex Rhoten

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

    Overview

    Equipped Bar Space For Lease

    One suite is available for lease within a diverse and established retail complex. The 5,592-square-foot space, formerly the Queens Nightclub, is equipped for use as a bar, including a kitchen with two fryers, a sink, a two-burner range with griddle, and two standard ovens. The property is situated in a heavily trafficked area on NE Lancaster Drive, just off the intersection of NE Market Street and NE Lancaster Drive. Heritage Square Shopping Center is located across from Fred Meyer and just north of the Lancaster Mall. The location provides convenient access to Interstate-5 North and South, less than two minutes away.
    Location Intelligence

    Current Use by Public Records

    Bars

    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

    Jack Daniel's, Half Court Sports Bar & Taproom, Giorgio's Bar & Grill, Olive Garden Italian Restaurant, Black Rock Coffee Bar

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -122.9829861
    Latitude
    44.9486129

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    FAQs

    What type of property is this?
    Bar - 5,592 SF bar space available in Heritage Square Shopping Center.
    Where is this bar located?
    The property is located at 1570-1584 Lancaster Dr NE Salem, OR.
    What is the lease rate?
    The lease rate is $1.20 SF/Yr.
    What are key features of this property?
    This property features: - High-traffic location on NE Lancaster Drive; - Equipped bar/kitchen with fryers, sink, range, griddle, and ovens; - 5,592 sqft space suitable for a bar or restaurant
    (503) 588-3508
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    1570-1584 Lancaster Dr NE Salem, OR 97317
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1570-1584 Lancaster Dr NE Salem, OR 97317
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