Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    477 Madrona Ave Salem, OR 97302

    Sponsored
    For Sale
    $700,000

    High-traffic corner lot, ideal for development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 30,000 square foot commercial land parcel presents a unique investment opportunity in Salem, Oregon. Strategically located at 477 Madrona Ave SE, this property boasts prime visibility and accessibility, situated directly across from a major Fred Meyer store. The lot offers significant frontage on Madrona Avenue, ensuring high traffic exposure for any future development. The asking price is $700,000, translating to a land value of $23.33 per square foot. Adding to its appeal, the property includes an additional 5,000 square foot access easement, bringing the total usable area to 35,000 square feet. This expansive space provides ample room for a variety of commercial ventures. The property's location at the corner of Commercial Street SE and Madrona Avenue places it in a high-traffic area with excellent visibility and accessibility. Its proximity to a major retailer like Fred Meyer guarantees consistent foot traffic and strong consumer presence. This is a rare opportunity to acquire a well-positioned commercial land parcel in a thriving Oregon market. The property is zoned for commercial use (verification required by buyer) and is ready for immediate development. Don't miss this chance to capitalize on this exceptional investment opportunity in Salem, Oregon. The property is located in Marion County, Oregon, with a zip code of 97302.

    Property Features for 477 Madrona Ave

    General Information

    Property type
    Land

    HighLights

    • 30,000 SF building with 5,000 SF easement, totaling 35,000 SF usable area.
    • Corner lot at Commercial Street SE and Madrona Avenue, directly across from Fred Meyer.
    • Madrona Avenue frontage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -123.0439765
    Latitude
    44.904989

    Nearby Similar for Sale

    • $675,000
      4,192 SF

      Spacious Duplex on Large Lot

      Two well-maintained homes on a 0.58-acre lot, perfect for families.
      4455 Blueberry -4445 Ln NE, Salem, OR 97305
      View Details
    • New
      $675,000
      25,265 SF

      Spacious Multi-Family Property in Salem

      Two homes on 0.58 acres, ideal for multi-generational living.
      4445 Blueberry Ln NE, Salem, OR 97305
      View Details
    • $749,900
      2,754 SF

      Salem Office Building with Apartment

      Two-story office conversion with studio apartment in South Salem.
      1705 Commercial St SE, Salem, OR 97302
      View Details
    • $649,900
      2,989 SF

      Remodeled Duplex on Double Lot

      Completely remodeled duplex with two units on a double lot.
      1117 6Th St NW, Salem, OR 97304
      View Details
    • New
      $649,900
      0.18 Acres

      Remodeled Duplex on Double Lot

      Remodeled duplex with two units on a double lot.
      1117 6Th St, Salem, OR 97304
      View Details
    • New
      $1,500,000
      7,246 SF

      Versatile Salem Property with Development Potential

      3.09 acres with shop, storage, and development opportunities.
      3650 Mainline Dr NE, Salem, OR 97301
      View Details
    • New
      $1,500,000
      3.09 Acres

      Salem Commercial Land For Sale

      3.09 acres of commercial land ready for development.
      3650 Mainline Dr NE, Salem, OR 97301
      View Details
    • New
      $469,000
      2,362 SF

      Updated Duplex in Salem, Oregon

      Spacious duplex with permitted addition, updated features, and fenced backyard.
      4086 Judy Ave NE, Salem, OR 97305
      View Details
    • $508,000
      2,474 SF

      Salem Duplex on Corner Lot

      Duplex on large corner lot with updated interior/exterior remodel.
      2808-2806 Livingston St NE, Salem, OR 97301
      View Details
    • $575,000
      2,282 SF

      Salem 4-Plex Investor Opportunity

      Four 1-bedroom units with potential to assume FHA mortgage!
      771 21St St SE, Salem, OR 97301
      View Details
    • New
      $575,000
      2,282 SF

      Remodeled Four-Unit Multifamily Property

      Four-unit property near downtown Salem with recent updates.
      771 21St St SE, Salem, OR 97301
      View Details
    • $499,000
      1,760 SF

      South Salem Duplex Investment Opportunity

      Tenant-occupied duplex in South Salem with recent upgrades.
      1884-1886 Skyline Vlg Lp S, Salem, OR 97306
      View Details

    FAQs

    What type of property is this?
    Land - High-traffic corner lot, ideal for development.
    Where is this land located?
    The property is located at 477 Madrona Ave Salem, OR.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: 30,000 SF building with 5,000 SF easement, totaling 35,000 SF usable area.; Corner lot at Commercial Street SE and Madrona Avenue, directly across from Fred Meyer.; Madrona Avenue frontage.
    Request Owner's contact information
    477 Madrona Ave Salem, OR 97302
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    477 Madrona Ave
    Salem, OR 97302
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    477 Madrona Ave Salem, OR 97302
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.