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Spacious Retail Space in Salem

299 D Street NE, Salem, OR

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For Sale

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23,218 SF retail space available in March 2026.

Type:RETAIL

Property size:

23,218 SF

Lot size:

1.97 Acres

Price / SF:

$193/SF

HighLights

23,218 SF street‑level space in Salem's Downtown Riverfront Urban Renewal area.
Zoned Central Business District (CBD) offering flexibility for retail, grocery, entertainment, fitness, or other community‑serving concepts.
Full loading dock with truck turnaround and direct access from Commercial Street.
Clear‑span layout with exposed glue‑lam timbers.
Available for lease with occupancy beginning March 2026.
Upgraded electrical service and fire suppression system.

We can help!

Listing Contact

Josh Kay

For Sale

Contact for pricing

23,218 SF retail space available in March 2026.

Type:RETAIL

Property size:

23,218 SF

Lot size:

1.97 Acres

Price / SF:

$193/SF

Added:: Nov 24, 2025
Days on Market:: 203
Last Refresh:: May 20 at 8:17 pm

Property Features for 299 D Street NE

General Information

Standard status: Active
Size: 23,218 SF
Lot size: 1.97 Acres
Property subtype: RETAIL

Properties For Sale

at 299 D Street NE Contact us

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Listing Contact

Josh Kay

Listing agent Josh Kay License #900300123

Listing office First Commercial Real Estate

Listing date Nov 24, 2025

Source Moodyscre

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

HighLights

23,218 SF street‑level space in Salem's Downtown Riverfront Urban Renewal area.
Zoned Central Business District (CBD) offering flexibility for retail, grocery, entertainment, fitness, or other community‑serving concepts.
Full loading dock with truck turnaround and direct access from Commercial Street.
Clear‑span layout with exposed glue‑lam timbers.
Available for lease with occupancy beginning March 2026.
Upgraded electrical service and fire suppression system.

Overview

This 23,218 square foot street-level space is available for lease with occupancy beginning in March 2026. Situated on a 2-acre site, the building features a clear-span layout, a full loading dock, and ample truck turnaround space. The property is zoned Central Business District (CBD), offering flexibility for retail, grocery, entertainment, fitness, or other community-serving concepts. The building is currently occupied and will be available in March 2026. The property features a clear-span design with exposed glue-lam timbers, a membrane roof installed in 2014, and two 25-ton rooftop HVAC units also installed in 2014. It includes a full loading dock with truck turnaround and direct access from Commercial Street, upgraded electrical service, and a fire suppression system. This prominent and highly accessible property is located within Salem’s Downtown Riverfront Urban Renewal area.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$445.8k	$19.20
− Vacancy	−$17.8k	−$0.77
EGI	$428.0k	$18.43
− OpEx	−$107.0k	−$4.61
NOI	$321.0k	$13.82

23,218 SF · lease $19.20/SF/yr · vacancy 4.00% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$4.59M

$4.01M – $5.35M (±1% cap)

NOI $320,966 @ 7.0% cap · market cap 7.13%

Second Best

Retail

$3.99M

$3.49M – $4.66M (±1% cap)

NOI $279,382 @ 7.0% cap · market cap 6.21%

Theoretical Best

Office A

$6.16M

$5.39M – $7.19M (±1% cap)

NOI $431,520 @ 7.0% cap · market cap 9.59%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Grocery Outlet Grocery & Convenience Store

Suggested Use

Similar Places Nearby

Grocery Outlet — 299 D St NE, Salem, OR 97301
Safeway — 1265 Center St NE, Salem, OR 97301

Location Insight

Map
Local Demand

City: Salem
County: Marion
State: Oregon
Longitude: -123.036
Latitude: 44.9495

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What type of property is this?

Grocery and convenience store - 23,218 SF retail space available in March 2026.

Where is this grocery and convenience store located?

The property is located at 299 D Street NE Salem, OR.

What is the asking price?

The asking price for this property is $4,500,000.

What are key features of this property?

This property features: 23,218 SF street‑level space in Salem's Downtown Riverfront Urban Renewal area.; Zoned Central Business District (CBD) offering flexibility for retail, grocery, entertainment, fitness, or other community‑serving concepts.; Full loading dock with truck turnaround and direct access from Commercial Street.

299 D Street NE, Salem, OR

23,218 SF retail space available in March 2026.

Property Features for 299 D Street NE

General Information

Properties For Sale

We can help!

HighLights

Overview

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Dual Living Opportunity in Salem

Two-Building 4-Unit Residential Property

Downtown Multi-Family Investment

Multifamily Apartment Building with Laundry

Detached 4-Unit Multifamily Property

Six-Unit Multifamily Building

Well-Maintained Multifamily Investment Opportunity

Two Manufactured Homes with Garages

Duplex with Attached Garages

Corner-Lot Duplex with Private Yards

Salem Duplex with Garages

Duplex with Income Potential

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