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    922 Lancaster Dr Salem, OR 97301

    For Lease
    $22 SF/Yr

    Salem, OR: Prime Retail Space Available

    Lot size:
    44,960 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    Academy Square, located at 922 Lancaster Dr NE in Salem, Oregon, presents a compelling opportunity for retail and office tenants. This single-story, 44,960 square foot Class B building, constructed in 1979, sits on a 4.71-acre lot and features 21 suites. Currently, 4,400 square feet of space is available, divisible into units as small as 1,560 square feet, with a maximum contiguous space of 4,400 square feet. The property boasts excellent visibility and parking ratios, enhanced by its strategic location directly across from Willamette Town Center, within Salem's most concentrated retail area on the Lancaster Drive corridor. The zoning is CR (Commercial Retail). The property's address is further identified by its cross street, D Street, and its Marion County APN is R23358. Tenant improvement funds are available for qualified tenants and lease terms. The building does not have elevators. This is an exceptional opportunity to establish or expand a business in a high-traffic, established retail center. The property is situated in the Lancaster Dr submarket and has a 97301 zip code.

    Property Features for 922 Lancaster Dr

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    44,960 SF
    Class
    B
    Total Rate
    82426.67

    Building Details

    Year Built
    1979
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    1114
    Size
    1,560 SF
    Rate per SF
    $25
    Space
    1094
    Size
    4,400 SF
    Rate per SF
    $24
    Space
    Suit 1124
    Size
    2,474 SF
    Rate per SF
    $22

    HighLights

    • Lease rates: $22/SF, NNN.
    • NNN charges estimated at $6.30/SF.
    • NNN includes water, sewer, and HVAC maintenance/replacement.
    • Excellent location directly across from Willamette Town Center.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Taco Time Mexican Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -122.9826251
    Latitude
    44.9433981

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    FAQs

    What type of property is this?
    Retail property - Salem, OR: Prime Retail Space Available
    Where is this retail property located?
    The property is located at 922 Lancaster Dr Salem, OR.
    What is the lease rate?
    The lease rate is $22-$25 SF/Yr.
    What are key features of this property?
    This property features: Lease rates: $22/SF, NNN.; NNN charges estimated at $6.30/SF.; NNN includes water, sewer, and HVAC maintenance/replacement.
    Request Owner's contact information
    922 Lancaster Dr 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
    922 Lancaster Dr Salem, OR 97301
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