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    642 Lancaster Dr Salem, OR 97301

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    For Lease
    Contact for pricing

    Prime Retail Space, High Visibility, 21,690 SF

    Lot size:
    21,690 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 21,690-square-foot retail space, situated in a single-tenant strip center in Marion County, presents a unique leasing opportunity. Located at the southeast corner of Lancaster Drive and Center Street, this property boasts unparalleled visibility and accessibility. Its strategic location is diagonally across from the Willamette Town Center, ensuring high foot traffic and exposure to a substantial customer base. The entire 21,690 square feet is currently vacant, offering a blank canvas for a discerning tenant to create their ideal retail environment. The property features direct frontage on Lancaster Drive, providing excellent street presence and brand visibility. Signage opportunities are available on the pylon sign, further enhancing marketing potential. This is an exceptional opportunity for a business seeking a prominent location with high visibility in a thriving commercial area. The property's size and location make it ideal for a variety of retail uses, offering significant potential for growth and success. The property is available for lease and ready for immediate occupancy. Interested parties are encouraged to inquire for further details and to schedule a viewing. This is a rare opportunity to secure a prime retail space in a high-traffic location.

    Property Features for 642 Lancaster Dr

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    21,690 SF

    Unit(s) available at that property

    Space
    Available Space 2
    Size
    21,690 SF

    HighLights

    • 21,690 square foot retail strip center in Marion County.
    • Single‑tenant occupancy available.
    • Located at the southeast corner of Lancaster Drive and Center Street, across from Willamette Town Center.
    • Excellent visibility and signage opportunities on Lancaster Drive.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Salvation Army Thrift ... Thrift Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -122.9818656
    Latitude
    44.9386615

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    FAQs

    What type of property is this?
    Retail property - Prime Retail Space, High Visibility, 21,690 SF
    Where is this retail property located?
    The property is located at 642 Lancaster Dr Salem, OR.
    What are key features of this property?
    This property features: 21,690 square foot retail strip center in Marion County.; Single-tenant occupancy available.; Located at the southeast corner of Lancaster Drive and Center Street, across from Willamette Town Center.
    Request Owner's contact information
    642 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
    642 Lancaster Dr Salem, OR 97301
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