Spacious Retail Space in
For Sale
Contact for pricing
299 D St NE, Salem, OR
23,218 SF retail space available in March 2026.
Property Size23,218 SF
Lot Size1.97 Acres
Price / SF$193.82
Days on Market248
Property Features for 299 D St NE
General Information
Standard status
Active
Size
23,218 SF
Lot size
1.97 Acres
Property subtype
RETAIL
Listing Agency:
First Commercial Real Estate
(503) 931-3521
Listed By:
Josh Kay · License #900300123
(503) 931-3521
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Jul 6
Last Checked: Jul 21 at 6:29AM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| 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
NOI $320,966 @ 7.0% cap · market cap 7.13%
Second Best
Retail
$3.99M
$3.49M – $4.66M
NOI $279,382 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$6.16M
$5.39M – $7.19M
NOI $431,520 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,272
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Grocery Outlet — 299 D St NE, Salem, OR 97301
- Safeway — 1265 Center St NE, Salem, OR 97301
Frequently Asked Questions
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 St 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.
