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    1115 Edgewater St Salem, OR 97304

    Sponsored
    For Lease
    $13 SF/Yr ($2,824 /Mo)

    Prime West Salem location, remodeled retail space. Ideal for various uses.

    Lot size:
    2,456 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 2,456 square foot commercial space, located at 1115 Edgewater St NW in Salem, Oregon (zip code 97304), presents a unique opportunity for a discerning business owner. Previously a wine bar, the property boasts a recent remodel, resulting in a modern and functional layout. The space is entirely vacant and ready for immediate occupancy. The single-story building is classified as Class B and features a large, open floor plan, perfect for adaptable use. A key highlight is the existing built-out bar area, offering significant potential for a variety of concepts. Beyond the main space, the property includes a private office, providing a dedicated area for administrative tasks or meetings. Ample storage is also available, addressing the needs of inventory-heavy businesses. A restroom is conveniently located within the premises. The zoning designation is Salem-ESMU, and the property is situated in the desirable West Salem submarket. The building does not include elevators. This is a single-tenant space, offering complete control and flexibility to the new occupant. This property is an excellent opportunity for a business seeking a move-in ready space with character and modern amenities.

    Property Features for 1115 Edgewater St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,456 SF
    Class
    B
    Total Rate
    2824.4

    Building Details

    Stories
    1

    Unit(s) available at that property

    Space
    Available Space
    Size
    2,456 SF
    Rate per SF
    $13

    HighLights

    • 2,456 SF available; Asking rate $1.15/SF/MO NNN
    • NNNs currently running $6.72/SF/YR
    • Zoning: Salem‑ESMU (Edgewater/Second St Mixed Use)
    • Located within the Edgewater St Corridor Overlay Zone and West Salem submarket.
    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
    Marion
    State
    Oregon
    Longitude
    -123.05692823221
    Latitude
    44.941211613002

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    FAQs

    What type of property is this?
    Restaurant - Prime West Salem location, remodeled retail space. Ideal for various uses.
    Where is this restaurant located?
    The property is located at 1115 Edgewater St Salem, OR.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: 2,456 SF available; Asking rate $1.15/SF/MO NNN; NNNs currently running $6.72/SF/YR; Zoning: Salem-ESMU (Edgewater/Second St Mixed Use)
    Request Owner's contact information
    1115 Edgewater St Salem, OR 97304
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    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
    1115 Edgewater St Salem, OR 97304
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