Corner-Lot Retail
For Sale
$587,500
1890 Capitol St NE, Salem, OR 97301
CommercialSale, Salem, OR
Property Size1,440 SF
Lot Size0.15 Acres
Price / SF$407.99
Days on Market48
Property Features for 1890 Capitol St NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
View
City
Directions
I5 exit 256, W on Market, N on Capitol
Subdivision
_176
Standard status
Active
APN
577395
Size
1,440 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
HIGHWAY ADDITION, BLOCK 4, LOT 9, ACRES 0.147
Tax Annual Amount
3230
Legal Description
HIGHWAY ADDITION, BLOCK 4, LOT 9, ACRES 0.147
Utilities
Heating system
Forced Air
Amenities
large open retail/lobby area
two offices or storage/supply rooms
bathroom
break room
Building Details
Year built
1973
Floors in Building
1
Building materials
Brick, ShingleSiding
Listing Agency:
Berkshire Hathaway HomeServices Real Estate Professionals
(503) 371-3013
Listed By:
Mark Shadrin
(503) 983-4405
Added: Sep 2
Changed: Oct 13
Last Checked: Oct 19 at 7:06AM
MLS# 703208900
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,440-square-foot retail property occupies a 0.15-acre corner parcel in Salem. The interior includes a broad open area, two rooms suited to office or storage functions, a bathroom, and a break room. Brick and shingle siding, prominent signage, and forced-air heating are existing building features. Seven on-site parking spaces are provided, with additional street parking nearby.
The property is at 1890 Capitol St NE, adjacent to Salem Clinic. City traffic data from 2015 recorded more than 12,000 vehicles passing daily. The site is zoned Comm. Furniture, fixtures, a security system, safes, display cases, and other former dispensary equipment are negotiable; any transfer of the existing cannabis retail license is subject to buyer qualification, regulatory requirements, and applicable approvals.
The property is at 1890 Capitol St NE, adjacent to Salem Clinic. City traffic data from 2015 recorded more than 12,000 vehicles passing daily. The site is zoned Comm. Furniture, fixtures, a security system, safes, display cases, and other former dispensary equipment are negotiable; any transfer of the existing cannabis retail license is subject to buyer qualification, regulatory requirements, and applicable approvals.
Key Highlights
- 1,440‑square‑foot building on a 0.15‑acre corner lot
- Open retail area, two office or storage rooms, bathroom, and break room
- Seven on‑site parking spaces, plus adjacent street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,328
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,560
$346.6K
Cap Rate 7%
$247,543
$247.5K
Cap Rate 9%
$192,533
$192.5K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$25.9K $18.00/SF
− Vacancy
−$1.2K −$0.81/SF
EGI
$24.8K $17.19/SF
− OpEx
−$7.4K −$5.16/SF
NOI
$17.3K $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%
$346,560
Cap Rate 7%
$247,543
Cap Rate 9%
$192,533
Alternative Uses
Best Use
Retail
$247.5K
$216.6K – $288.8K
NOI $17,328 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$382.3K
$334.5K – $446.1K
NOI $26,763 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
12,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - An open sales area is complemented by two offices or storage rooms, a break room, and on-site parking.
Where is this retail space located?
The property is located at 1890 Capitol St NE Salem, OR.
What is the asking price?
The asking price for this property is $587,500.
What are key features of this property?
This property features: 1,440‑square‑foot building on a 0.15‑acre corner lot; Open retail area, two office or storage rooms, bathroom, and break room; Seven on‑site parking spaces, plus adjacent street parking
