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    1890 16Th St Salem, OR 97302

    For Sale
    $408,290

    Prime Salem location, IG zoning, investment opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 9.8-acre industrial site, known locally as Walling Pond, presents a unique investment opportunity in Salem, Oregon. Currently utilized as a recreational quarry pond, the property is zoned Industrial General (IG), offering significant potential for future development. Comprising two tax lots (27991 & 527880), this land parcel is strategically located within the McGilchrist industrial corridor, conveniently situated near the intersection of McGilchrist St SE and 16th St SE, at 1890 16th St SE, Salem, OR 97302. The asking price of $408,290 reflects the current tax-assessed value, anticipating a future change of use from its existing recreational purpose. This property offers substantial acreage for various industrial applications, making it an attractive prospect for businesses seeking a well-positioned site in a thriving industrial area of Marion County. The location provides easy access to major transportation routes, enhancing its logistical appeal. This is a rare opportunity to acquire a sizable industrial lot with significant upside potential in a desirable Oregon location.

    Property Features for 1890 16Th St

    General Information

    Property type
    Land
    Lot Size
    426,888 SF

    HighLights

    • 9.8‑acre industrial site in Salem, OR.
    • Currently a recreational quarry pond.
    • Comprises two tax lots (27991 & 527880).
    • List price: $408,290.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Republic Services Garbage Collection Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop 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
    -123.02527408201
    Latitude
    44.918814022556

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    FAQs

    What type of property is this?
    Land - Prime Salem location, IG zoning, investment opportunity.
    Where is this land located?
    The property is located at 1890 16Th St Salem, OR.
    What is the asking price?
    The asking price for this property is $408,290.
    What are key features of this property?
    This property features: 9.8-acre industrial site in Salem, OR.; Currently a recreational quarry pond.; Comprises two tax lots (27991 & 527880).
    Request Owner's contact information
    1890 16Th St 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
    1890 16Th St Salem, OR 97302
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