Mixed-Use Property with
New
For Sale
$1,350,000
1486 Hawthorne Av NE, Salem, OR 97301
Commercial, Salem, OR
Property Size7,030 SF
Lot Size0.69 Acres
Price / SF$192.03
Days on Market5
Property Features for 1486 Hawthorne Av NE
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
MU-III
Rooms
Basement
Parking
40
Directions
From I-5, take Exit 256 for Market St. Head west on Market St NE, then turn left onto Hawthorne Ave NE. Continue south to 1486 Hawthorne Ave NE.
Standard status
Active
Size
7,030 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15722
Utilities
Heating system
Forced Air
Building Details
Year built
1961
Listing Agency:
EXP REALTY, LLC
(888) 814-9613
Listed By:
CRYSTAL QIAN HU · License #201222177
(971) 388-0511
Added: Oct 25
Changed: Oct 26
Last Checked: Oct 29 at 5:06PM
MLS# 846891
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Located at 1486 Hawthorne Av NE in Salem, this mixed-use property occupies a 0.69-acre lot. The building dates to 1961 and includes a basement, with forced-air heating. Its previous use as a bar provides context for assessing the property, while MU-III zoning is a key consideration for any future plans.
Key Highlights
- 0.69‑acre lot in Salem, Oregon
- MU‑III zoning
- Previously used as a bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,768
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,535,360
$1.5M
Cap Rate 7%
$1,096,686
$1.1M
Cap Rate 9%
$852,978
$853.0K
Market Conditions
NOI Build-Up for 7,030 SF
Gross rent
$135.0K $19.20/SF
− Vacancy
−$12.1K −$1.73/SF
EGI
$122.8K $17.47/SF
− OpEx
−$46.1K −$6.55/SF
NOI
$76.8K $10.92/SF
Area
Salem, OR
Vacancy
9.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,535,360
Cap Rate 7%
$1,096,686
Cap Rate 9%
$852,978
Alternative Uses
Best Use
Mixed Use
$1.10M
$959.6K – $1.28M
NOI $76,768 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,657 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,263
Businesses Nearby
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Business Placement
Demographics for 97301, OR
56,393
Population
21,419
Households
2.6
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
11.3 sq mi
ZIP Area
4,991
Density / Sq Mi
$57,497
Median Household Income
$33,220
Median Earnings
$1,197
Median Rent
$310,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - MU-III zoning and prior bar use are relevant considerations when evaluating the property's next commercial use.
Where is this mixed-use property located?
The property is located at 1486 Hawthorne Av NE Salem, OR.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 0.69‑acre lot in Salem, Oregon; MU‑III zoning; Previously used as a bar
