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    3545-3599 Portland Rd Salem, OR 97301

    For Sale
    $2,950,000

    Mixed-use retail & warehouse, 39,935 SF

    Property size:
    39,935 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    Prime Salem location, this exceptional mixed-use investment property presents a compelling opportunity. Located in Salem's North Gateway Urban Renewal Area, this property encompasses two buildings totaling approximately 39,935 square feet on a 3.25-acre lot. The main building, offering roughly 20,445 square feet of retail and office space, features an additional 4,080 square feet of office space on the upper level, accessible by elevator. A separate warehouse building, totaling approximately 10,100 square feet, currently houses an indoor soccer facility and a pallet fabricator. Adding to the property's versatility is approximately 9,390 square feet of covered lean-to storage adjacent to the main building. The property also includes surplus land suitable for expansion, outdoor storage, or additional development, along with a tenant-occupied building pad. Built in 1956, this property is zoned IC and consists of two stories. The asking price is $2,950,000, translating to $73.87 per square foot. This presents a unique opportunity for owner-users or investors seeking a strong foothold in a thriving Salem market. The property is comprised of two tax parcels (APN 526078, 526082) and offers a diverse tenant base. This is an excellent opportunity for redevelopment or continued operation as a successful mixed-use property.

    Property Features for 3545-3599 Portland Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    39,935 SF
    Lot Size
    141,570 SF

    Building Details

    Year Built
    1956
    Buildings
    2
    Stories
    2

    HighLights

    • $2,950,000 asking price for a 39,935 square foot mixed‑use property.
    • Located in Salem, Oregon's North Gateway Urban Renewal Area, at 3545‑3599 Portland Road NE.
    • Consists of two buildings totaling 39,935 square feet on a 3.25‑acre lot with two tax parcels (APN 526078, 526082).
    • Features approximately 20,445 square feet of retail/office space, 10,100 square feet of warehouse space, and 9,390 square feet of covered storage.
    • Built in 1956, with two stories and IC zoning.
    • Includes approximately 4,080 square feet of office space on the upper level, accessible by elevator.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    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
    -123.0048608
    Latitude
    44.9719606

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    FAQs

    What type of property is this?
    Lifestyle center - Mixed-use retail & warehouse, 39,935 SF
    Where is this lifestyle center located?
    The property is located at 3545-3599 Portland Rd Salem, OR.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: $2,950,000 asking price for a 39,935 square foot mixed-use property.; Located in Salem, Oregon's North Gateway Urban Renewal Area, at 3545-3599 Portland Road NE.; Consists of two buildings totaling 39,935 square feet on a 3.25-acre lot with two tax parcels (APN 526078, 526082).
    Request Owner's contact information
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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
    3545-3599 Portland Rd Salem, OR 97301
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