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    480-498 Lancaster Dr Salem, OR 97301

    Sponsored
    For Lease
    $20 SF/Yr

    Upscale Salem retail spaces available now.

    Lot size:
    21,110 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This prime Salem, Oregon retail center presents a unique investment opportunity. Located at the signalized intersection of Lancaster and Auburn Rd NE, this property boasts a highly visible location just one block south of the Target Shopping Center and Willamette Town Center Mall. The center features five suites ranging from 1,550 to 4,920 square feet, with three currently available for lease. Benefit from the established presence of national tenants, including The Vitamin Shop, which anchors the center. The property offers ample parking and multiple ingress/egress points for convenient access. High visibility is ensured by digital and pylon signage at this corner location. The property is classified as retail and land, offering flexibility for various commercial uses. Situated in Marion County, Oregon, with a Salem zip code of 97301, this location provides excellent access to a thriving consumer base. The property's strategic placement and established tenant mix make it an attractive investment for discerning buyers seeking a high-return opportunity in a desirable retail corridor. The address is 480-498 Lancaster Dr NE, Salem, OR.

    Property Features for 480-498 Lancaster Dr

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    21,110 SF

    Unit(s) available at that property

    Space
    484
    Size
    4,800 SF
    Rate per SF
    $20
    Space
    B
    Size
    4,920 SF
    Space
    480
    Size
    1,550 SF
    Rate per SF
    $20
    Space
    498
    Size
    4,920 SF
    Rate per SF
    $20
    Space
    A
    Size
    4,920 SF

    HighLights

    • Prime Salem, OR retail center at the signalized intersection of Lancaster and Auburn Rd NE.
    • Five suites (1,550 - 4,920 SF), three available for lease.
    • Anchored by The Vitamin Shoppe; located one block south of Target & Willamette Town Center Mall.
    • Ample parking and multiple ingress/egress points.
    • High visibility with digital and pylon signage; 480‑498 Lancaster Dr NE, Salem, OR 97301.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -122.982399
    Latitude
    44.935855

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    FAQs

    What type of property is this?
    Land - Upscale Salem retail spaces available now.
    Where is this land located?
    The property is located at 480-498 Lancaster Dr Salem, OR.
    What is the lease rate?
    The lease rate is $0.00-$20 SF/Yr.
    What are key features of this property?
    This property features: Prime Salem, OR retail center at the signalized intersection of Lancaster and Auburn Rd NE.; Five suites (1,550 - 4,920 SF), three available for lease.; Anchored by The Vitamin Shoppe; located one block south of Target & Willamette Town Center Mall.
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    480-498 Lancaster Dr 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
    480-498 Lancaster Dr Salem, OR 97301
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