1221 River Bend Rd Salem, OR 97304
- Lifestyle centers
- 10,780 SF
- 1.95 lot acres
Current Use by Public Records
- Craft Collection Salon / Hair Salon
- Fauning Over Flora / Florist / Gift Shop
- Nails West / Nail Salon
Property Details for 1221 River Bend Rd
- Year built
- 2023
- Lot size
- 1.95 lot acres
- Property size
- 10,780 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a fully leased, Class A retail center in Salem, Oregon. The property, completed in 2023, encompasses 10,780 square feet across two buildings on a 1.95-acre lot. The portfolio includes five tenants, boasting 100% occupancy since March 1, 2023, generating a strong NOI of $624,355 and a 7.90% cap rate. The property features a vibrant mix of retail spaces and a unique food truck pavilion, Checkpoint 221, with a full bar. Strategically located at 1221 Riverbend Rd NW, in Polk County, the center benefits from high visibility at a signalized intersection and proximity to two large apartment complexes (a 48-unit complex and a 201-unit complex under construction), ensuring consistent customer traffic. The property is zoned CR CO and offers a compelling net lease investment with a multi-tenant structure. The asking price is $7,900,000, representing a price per square foot of $732.84. This turnkey operation provides immediate income and significant long-term growth potential. The sale includes both the real estate and the established Checkpoint 221 business. Detailed financial statements are available upon request.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Polk
- State
- Oregon
- Longitude
- -123.061
- Latitude
- 44.9682
