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    4540 Pringle Rd Salem, OR 97302

    For Sale
    $4,260,000

    24 Acres, Prime Residential Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 24-acre property presents a remarkable opportunity for residential development in desirable South Salem, Oregon. Located at 4540 Pringle Rd SE, Salem, OR 97302, this land boasts a prime location with access to city infrastructure including water, sewer, and electric services. Currently zoned RA (Residential Agriculture), the property allows for the development of single-family detached dwellings, including manufactured homes (subject to approval), townhome developments (up to 3 units per platted lot, potentially attached), and senior facilities (conditionally). A conceptual plan outlines the potential for 127 lots, showcasing the significant development potential. The minimum lot size for single-family homes is 4,000 square feet. This family-owned property, spanning approximately 24 acres (from a total of 29.68 acres, with the seller retaining roughly 5.5 acres), offers a compelling investment opportunity. The property's value is further enhanced by a strong local market, with median home sale prices exceeding $420,000 within a 1.5-mile radius for homes built in 2017 or later on lots ranging from 3,000 to 7,000 square feet. The asking price is $4,260,000, translating to $177,500 per acre. This represents a unique chance to acquire a substantial parcel of land with significant upside potential in a thriving community. The property is situated in Marion County. A Planned Unit Development may also be feasible.

    Property Features for 4540 Pringle Rd

    General Information

    Property type
    Residential land & home lots
    Lot Size
    1,045,440 SF

    HighLights

    • 24 acres of prime residential development land in South Salem, Oregon.
    • Family‑owned property for over 70 years.
    • 29.68‑acre total site; seller retains approximately 5.5 acres.
    • Conceptual plan for 127 residential lots.
    • Planned Unit Development (PUD) potential.
    • Access to city water, sewer, and electric utilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Glass Barn Greenhouse

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon 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
    -123.0283785
    Latitude
    44.8916928

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    FAQs

    What type of property is this?
    Residential land & home lot - 24 Acres, Prime Residential Potential
    Where is this residential land & home lot located?
    The property is located at 4540 Pringle Rd Salem, OR.
    What is the asking price?
    The asking price for this property is $4,260,000.
    What are key features of this property?
    This property features: 24 acres of prime residential development land in South Salem, Oregon.; Family-owned property for over 70 years.; 29.68-acre total site; seller retains approximately 5.5 acres.
    Request Owner's contact information
    4540 Pringle Rd Salem, OR 97302
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    Salem, OR 97302
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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
    4540 Pringle Rd Salem, OR 97302
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