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    181 High St Salem, OR 97301

    Sponsored
    For Sale
    $4,575,000

    Mixed-use building, prime location.

    Property size:
    38,450 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, known as Salem's Historic Grand, presents a compelling investment opportunity in Salem, Oregon's vibrant Central Business District (CBD). Encompassing 38,450 square feet on a half-acre lot, this three-story building boasts a rich history, having served as a community gathering space for over a century. Currently operating at 85% occupancy, the property offers a diverse mix of retail and executive office spaces, including theatre and conference facilities. Strategically located at the corner of High St NE and Court St NE, it provides convenient access to major thoroughfares, including I-5 and Highway 22. The building comprises seven tax parcels and includes 24 parking spaces. Significant infrastructure and theatre upgrades totaling over $2.5 million have been completed by the owner-users. Built in 1900, the property is zoned CBD and offers a compelling 7.75% cap rate at an asking price of $4,575,000 ($118.99/sq ft). This landmark building represents a rare chance to acquire a substantial, income-generating asset in a thriving Oregon market.

    Property Features for 181 High St

    General Information

    Property type
    Individual retail properties
    Square Feet
    38,450 SF
    Lot Size
    21,780 SF

    Building Details

    Year Built
    1900
    Stories
    3

    HighLights

    • 38,450 square feet on a 0.5‑acre lot.
    • Convenient access to major thoroughfares.
    • Centrally located in Salem's Central Business District (CBD).
    • Seven tax parcels included.
    • 24 parking spaces.
    • Asking price: $4,575,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Hair Salon Building Supply Nail Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.03672994
    Latitude
    44.94052436

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    FAQs

    What type of property is this?
    Individual retail property - Mixed-use building, prime location.
    Where is this individual retail property located?
    The property is located at 181 High St Salem, OR.
    What is the asking price?
    The asking price for this property is $4,575,000.
    What are key features of this property?
    This property features: 38,450 square feet on a 0.5-acre lot.; Convenient access to major thoroughfares.; Centrally located in Salem's Central Business District (CBD).
    Request Owner's contact information
    181 High St Salem, OR 97301
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    Salem, OR 97301
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    181 High St Salem, OR 97301
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