Retail Building with Signalized
For Sale
Contact for pricing
2945 Liberty Rd S, Salem, OR 97302
Two-acre retail property offering owner-user, multi-tenant, or redevelopment flexibility.
Property Size19,095 SF
Price / SF$188.27
Days on Market554
Property Features for 2945 Liberty Rd S
General Information
Standard status
Active
Size
19,095 SF
Property subtype
RETAIL
Listing Agency:
First Commercial Real Estate
(503) 364-7400
Listed By:
Jennifer Martin · License #200303194
(503) 559-2694
Source:
Moodyscre
Added: Apr 10, 2025
Changed: Oct 15
Last Checked: Oct 15 at 2:40AM
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
Investment Insights
Based on property information with market context.
This 19,095-square-foot retail building occupies a two-acre site at the meeting point of Liberty Road South and Commercial Street SE. The property is suited to an owner-user, conversion to multiple tenant spaces, or redevelopment under the current Mixed Use I zoning designation.
Signalized direct access connects the site to both intersecting roads. The property is positioned near substantial retail concentrations in Salem’s south area and is identified for retail, multi-tenant, or redevelopment applications.
Signalized direct access connects the site to both intersecting roads. The property is positioned near substantial retail concentrations in Salem’s south area and is identified for retail, multi-tenant, or redevelopment applications.
Key Highlights
- 19,095‑square‑foot retail building on a two‑acre site
- Current Mixed Use I zoning supports redevelopment consideration
- Signalized direct access at Liberty Road South and Commercial Street SE
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$229,770
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,595,400
$4.6M
Cap Rate 7%
$3,282,429
$3.3M
Cap Rate 9%
$2,553,000
$2.6M
Market Conditions
NOI Build-Up for 19,095 SF
Gross rent
$343.7K $18.00/SF
− Vacancy
−$15.5K −$0.81/SF
EGI
$328.2K $17.19/SF
− OpEx
−$98.5K −$5.16/SF
NOI
$229.8K $12.03/SF
Area
Salem, OR
Vacancy
4.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,595,400
Cap Rate 7%
$3,282,429
Cap Rate 9%
$2,553,000
Alternative Uses
Best Use
Retail
$3.28M
$2.87M – $3.83M
NOI $229,770 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.07M
$4.44M – $5.91M
NOI $354,892 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
853
Businesses Nearby
Explore this area
Business Placement
Demographics for 97302, OR
39,776
Population
17,888
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
95%
High-School Grad
23.5 sq mi
ZIP Area
1,693
Density / Sq Mi
$83,697
Median Household Income
$44,623
Median Earnings
$1,230
Median Rent
$415,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Retail space - Two-acre retail property offering owner-user, multi-tenant, or redevelopment flexibility.
Where is this retail space located?
The property is located at 2945 Liberty Rd S Salem, OR.
What is the asking price?
The asking price for this property is $3,595,000.
What are key features of this property?
This property features: 19,095‑square‑foot retail building on a two‑acre site; Current Mixed Use I zoning supports redevelopment consideration; Signalized direct access at Liberty Road South and Commercial Street SE
