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    1111-1117 Edgewater St Salem, OR 97304

    For Sale
    $1,395,000

    High-yield retail building, 7,940 SF

    Property size:
    7,940 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional Salem, Oregon retail property, located at 1111-1117 Edgewater St (APN 07321-DC-10800), presents a compelling investment opportunity. The 7,940 square foot building sits on a 0.23-acre lot and boasts a strong 7.58% cap rate, generating a net operating income (NOI) of $105,706. Priced at $1,395,000 ($167.55/SF), this property offers significant potential for return. Constructed in 1940 and extensively renovated in 2024 (including a new roof), the building is zoned ESMU and comprises three separately leased spaces. Two tenants, Max & Ro Hair Design and The Vault, currently occupy the space. Max & Ro underwent a major renovation in 2016, while The Vault (and the former Old Zen Wine Bar space) received renovations in 2020. The Vault features a fully equipped kitchen with a hood. This prime location along the Edgewater Street corridor in Salem (zip code 97304) offers excellent visibility and accessibility. The property's recent renovations, established tenants, and strong financial performance make it an attractive investment for discerning buyers. This is a rare opportunity to acquire a well-maintained, high-performing retail property in a desirable location.

    Property Features for 1111-1117 Edgewater St

    General Information

    Property type
    Retail properties
    Square Feet
    7,940 SF
    Lot Size
    10,019 SF

    Building Details

    Year Built/Renovated
    1940/2024

    HighLights

    • $1,395,000 asking price for a 7,940 SF retail building.
    • 7.58% cap rate with a $105,706 NOI.
    • $167.55 price per square foot.
    • Located at 1111‑1117 Edgewater St, Salem, OR 97304 (APN: 07321‑DC‑10800), on a 0.23‑acre lot.
    • Built in 1940, renovated in 2024; ESMU zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Realty agency Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Polk
    State
    Oregon
    Longitude
    -123.0569465
    Latitude
    44.9415023

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    FAQs

    What type of property is this?
    Retail property - High-yield retail building, 7,940 SF
    Where is this retail property located?
    The property is located at 1111-1117 Edgewater St Salem, OR.
    What is the asking price?
    The asking price for this property is $1,395,000.
    What are key features of this property?
    This property features: $1,395,000 asking price for a 7,940 SF retail building.; 7.58% cap rate with a $105,706 NOI.; $167.55 price per square foot.
    (503) 364-7400
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    1111-1117 Edgewater St Salem, OR 97304
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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
    1111-1117 Edgewater St Salem, OR 97304
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