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    1516 Commercial St NE Salem, OR 97302

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    For Lease
    $1.95 SF/Yr

    Retail space on a high-traffic corner lot with parking.

    Property size:
    1,662 SF
    Lot size:
    0.20 Acres

    Property Features for 1516 Commercial St NE

    General Information

    Size
    1,662 SF
    Lot size
    0.20 Acres

    Source: SMI Real Estate Agent Kassandra Bruhn

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

    Overview

    High-Traffic Corner Lot Retail Space

    This corner lot property is situated on 0.20 acres in a high-traffic location. The property is near Downtown Salem, Keizer, and Dr. Martin Luther King, Jr. Parkway. It features a private parking lot, ample street parking, and signage on both Commercial Street and Shipping Street. The property offers 1662 square feet of retail space.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.0334504
    Latitude
    44.9546637

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    FAQs

    What type of property is this?
    Retail space - Retail space on a high-traffic corner lot with parking.
    Where is this retail space located?
    The property is located at 1516 Commercial St NE Salem, OR.
    What is the lease rate?
    The lease rate is $1.95 SF/Yr.
    What are key features of this property?
    This property features: - High traffic location; - Corner lot property on .20 acres; - Private parking lot
    (503) 939-5035
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    1516 Commercial St NE Salem, OR 97302
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    Salem, OR 97302
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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
    1516 Commercial St NE Salem, OR 97302
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