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    187 High St Salem, OR 97301

    Sponsored
    For Sale
    $1,625,000

    9,950 SF Vacant Storefront, $1.625M

    Property size:
    9,950 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 9,950 square foot retail space, located at 187 High St NE in Salem, Oregon, presents a unique investment opportunity. The property, part of the Courthouse Condominiums, is a separate parcel (APN 073W27AB90001) and currently vacant. Built in 1900, the building features exposed brick and beams, adding character and charm to the ground floor retail area. The space includes a storefront with ample natural light, a kitchenette, restrooms, and substantial storage. A large basement area offers additional storage, totaling over 9,950 square feet. The property is zoned CB and is offered at $1,625,000, translating to $163.32 per square foot. This versatile space is ideal for a variety of retail uses, including grocery stores and restaurants, offering significant potential for a discerning owner/user. The property's prime downtown Salem location ensures high visibility and accessibility. The historic building and spacious layout provide a unique opportunity to establish a thriving business in a vibrant urban setting. This is a rare chance to acquire a substantial, well-located retail property in a desirable Oregon market.

    Property Features for 187 High St

    General Information

    Property type
    Individual retail properties
    Square Feet
    9,950 SF

    Building Details

    Units
    1

    HighLights

    • 9,950 square foot building on parcel 073W27AB90001
    • 1900 construction
    • $1,625,000 sale price
    Property Profile Location Intelligence

    Current Use by Public Records

    Dave Barrows & Associates Non-Governmental Organization Daniel Dollinger CPA ... Financial Planner Salon Blu Beauty Salon Optimum Accounting LLC Accounting Firm

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Hair Salon Building Supply Nail 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
    -123.03679309627
    Latitude
    44.940368439372

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    FAQs

    What type of property is this?
    Individual retail property - 9,950 SF Vacant Storefront, $1.625M
    Where is this individual retail property located?
    The property is located at 187 High St Salem, OR.
    What is the asking price?
    The asking price for this property is $1,625,000.
    What are key features of this property?
    This property features: 9,950 square foot building on parcel 073W27AB90001; 1900 construction; $1,625,000 sale price
    Request Owner's contact information
    187 High St 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
    187 High St Salem, OR 97301
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