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Retail Building on Edgewater Street

1111-1117 Edgewater St NW, Salem, OR

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For Sale

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Retail building with three leased spaces and recent renovations.

Type:RETAIL

Property size:

7,940 SF

Lot size:

0.23 Acres

Price / SF:

$175/SF

HighLights

New roof installed in 2024.
Three separately leased spaces provide immediate rental income.
The Vault includes a full kitchen with hood.
Located along the Edgewater Street corridor.
The Vault and former Old Zen Wine Bar were renovated in 2020.
Max & Ro Hair Design underwent a major renovation in 2016.

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Listing Contact

Ruth Dana

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For Sale

Contact for pricing

Retail building with three leased spaces and recent renovations.

Type:RETAIL

Property size:

7,940 SF

Lot size:

0.23 Acres

Price / SF:

$175/SF

Added:: Jan 13, 2025
Days on Market:: 520
Last Refresh:: May 19 at 9:59 pm

Property Features for 1111-1117 Edgewater St NW

General Information

Standard status: Active
Size: 7,940 SF
Lot size: 0.23 Acres
Property subtype: RETAIL

Properties For Sale

at 1111-1117 Edgewater St NW Contact us

We can help!

Listing Contact

Ruth Dana

Listing agent Ruth Dana License #900300123

Listing office First Commercial Real Estate

Listing date Jan 13, 2025

Source Moodyscre

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

All listing content including descriptions, pricing, images are the copyrighted material of First Commercial Real Estate

HighLights

New roof installed in 2024.
Three separately leased spaces provide immediate rental income.
The Vault includes a full kitchen with hood.
Located along the Edgewater Street corridor.
The Vault and former Old Zen Wine Bar were renovated in 2020.
Max & Ro Hair Design underwent a major renovation in 2016.

Overview

This retail building is located along the Edgewater Street corridor. The building is divided into three separately leased spaces: Max & Ro Hair Design and The Vault. Max & Ro Hair Design underwent a major renovation in 2016. The Vault and the former Old Zen Wine Bar underwent renovations in 2020. The Vault includes a full kitchen with a hood. Recent upgrades to the building include a new roof in 2024. The property has a size of 7940 square feet.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$142.9k	$18.00
− Vacancy	−$6.4k	−$0.81
EGI	$136.5k	$17.19
− OpEx	−$40.9k	−$5.16
NOI	$95.5k	$12.03

7,940 SF · lease $18.00/SF/yr · vacancy 4.50% · expense 30.00%

Alternative Uses

Best Use

Retail

$1.36M

$1.19M – $1.59M (±1% cap)

NOI $95,542 @ 7.0% cap · market cap 6.85%

Second Best

—

no second resolved use

Theoretical Best

Office A

$2.11M

$1.84M – $2.46M (±1% cap)

NOI $147,570 @ 7.0% cap · market cap 10.58%

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

Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Salem
County: Marion
State: Oregon
Longitude: -123.057
Latitude: 44.9414

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For sale
Retail space
OR
Salem
1111-1117 Edgewater St NW

What type of property is this?

Retail space - Retail building with three leased spaces and recent renovations.

Where is this retail space located?

The property is located at 1111-1117 Edgewater St NW Salem, OR.

What is the asking price?

The asking price for this property is $1,395,000.

What are key features of this property?

This property features: New roof installed in 2024.; Three separately leased spaces provide immediate rental income.; **The Vault includes a full kitchen with hood.**

1111-1117 Edgewater St NW, Salem, OR

Retail building with three leased spaces and recent renovations.

Property Features for 1111-1117 Edgewater St NW

General Information

Properties For Sale

We can help!

HighLights

Overview

Local Financial Insights For Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Dual Living Opportunity in Salem

Two-Building 4-Unit Residential Property

Downtown Multi-Family Investment

Multifamily Apartment Building with Laundry

Detached 4-Unit Multifamily Property

Six-Unit Multifamily Building

Well-Maintained Multifamily Investment Opportunity

Manufactured Home Duplex on Acreage

Duplex with Attached Garages

Corner-Lot Duplex with Private Yards

Salem Duplex with Garages

Duplex with Income Potential

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