Former Bar Mixed-Use
New
For Sale
$1,350,000
1486 Hawthorne NE, Salem, OR 97301
The building’s prior use was as a bar; any future business concept requires independent review and applicable approvals.
Property Size7,030 SF
Price / SF$192.03
Days on Market5
Property Features for 1486 Hawthorne NE
General Information
Standard status
Active
Size
7,030 SF
Property subtype
Commercial
Site & Location
Neighborhood
North East Salem Community Association (Nesca)
Building Details
Year Built
1961
Listing Agency:
EXP REALTY, LLC
Listed By:
Crystal Qian Hu · License #9161
(971) 388-0511
Source:
Coho
Added: Oct 26
Last Checked: Oct 26 at 3:00PM
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 EXP REALTY, LLC
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Investment Insights
Based on property information with market context.
Located at 1486 Hawthorne NE in Salem, this commercial property was built in 1961 and previously operated as a bar. A bar and neighborhood grocery store concept has been suggested, but its feasibility and permitted use have not been established. Buyers should verify property details, condition, equipment, licensing, and approvals for any intended use.
Key Highlights
- Previously used as a bar
- Built in 1961
- 1486 Hawthorne NE, Salem, OR 97301
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,183
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,943,660
$1.9M
Cap Rate 7%
$1,388,329
$1.4M
Cap Rate 9%
$1,079,811
$1.1M
Market Conditions
NOI Build-Up for 7,030 SF
Gross rent
$135.0K $19.20/SF
− Vacancy
−$5.4K −$0.77/SF
EGI
$129.6K $18.43/SF
− OpEx
−$32.4K −$4.61/SF
NOI
$97.2K $13.82/SF
Area
Salem, OR
Vacancy
4.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,943,660
Cap Rate 7%
$1,388,329
Cap Rate 9%
$1,079,811
Alternative Uses
Best Use
Specialty Retail
$1.39M
$1.21M – $1.62M
NOI $97,183 @ 7.0% cap · market cap 7.20%
Second Best
Mixed Use
$1.10M
$959.6K – $1.28M
NOI $76,768 @ 7.0% cap · market cap 5.69%
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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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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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The building’s prior use was as a bar; any future business concept requires independent review and applicable approvals.
Where is this mixed-use property located?
The property is located at 1486 Hawthorne 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: Previously used as a bar; Built in 1961; 1486 Hawthorne NE, Salem, OR 97301
