Ground-Floor Mixed-Use
For Sale
Contact for pricing
2041 State St, Salem, OR 97301
Retail or office space with separate front and rear areas, a remodeled bathroom, and on-site parking.
Property Size1,750 SF
Price / SF$1.17
Days on Market48
Property Features for 2041 State St
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Farm/Ranch
Site & Location
Neighborhood
Northeast Neighbors (Nen)
Additional Details
Floor
Ground
Listing Agency:
SMI REAL ESTATE
Listed By:
BEN BEDNARZ · License #200601032
(503) 851-2941
Source:
Amymcleod
Added: Sep 12
Changed: Oct 25
Last Checked: Oct 7 at 1:18PM
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 SMI REAL ESTATE
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Investment Insights
Based on property information with market context.
This 1,750-square-foot ground-floor mixed-use property is configured for retail or office occupancy, with a finished front room, a large rear room featuring a high ceiling, and one bathroom. The front area has new carpet, while the rear room has a bare concrete floor. Heating includes a front furnace and a suspended furnace serving the back room; the space does not currently have air conditioning. The bathroom has been recently remodeled.
The property is located near the State of Oregon Capitol Building, other government offices, and Willamette University. On-site parking is available, adding practical convenience for occupants and visitors. The combination of separated front and rear areas, dedicated heating, and ground-floor access supports a range of retail or office layouts within the existing footprint.
The property is located near the State of Oregon Capitol Building, other government offices, and Willamette University. On-site parking is available, adding practical convenience for occupants and visitors. The combination of separated front and rear areas, dedicated heating, and ground-floor access supports a range of retail or office layouts within the existing footprint.
Key Highlights
- 1,750 SF ground‑floor mixed‑use property
- Finished front room with new carpet
- Large rear room with high ceiling and bare concrete floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,110
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,200
$382.2K
Cap Rate 7%
$273,000
$273.0K
Cap Rate 9%
$212,333
$212.3K
Market Conditions
NOI Build-Up for 1,750 SF
Gross rent
$33.6K $19.20/SF
− Vacancy
−$3.0K −$1.73/SF
EGI
$30.6K $17.47/SF
− OpEx
−$11.5K −$6.55/SF
NOI
$19.1K $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%
$382,200
Cap Rate 7%
$273,000
Cap Rate 9%
$212,333
Alternative Uses
Best Use
Retail
$300.8K
$263.2K – $351.0K
NOI $21,058 @ 7.0% cap · market cap 1,027.22%
Second Best
Mixed Use
$273.0K
$238.9K – $318.5K
NOI $19,110 @ 7.0% cap · market cap 932.20%
Theoretical Best
Office A
$464.6K
$406.6K – $542.1K
NOI $32,525 @ 7.0% cap · market cap 1,586.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
902
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 - Retail or office space with separate front and rear areas, a remodeled bathroom, and on-site parking.
Where is this mixed-use property located?
The property is located at 2041 State St Salem, OR.
What are key features of this property?
This property features: 1,750 SF ground‑floor mixed‑use property; Finished front room with new carpet; Large rear room with high ceiling and bare concrete floor
