State St, Salem, OR 97301
This exceptional investment opportunity presents a 2,512 square foot retail building situated on a 0.06-acre lot in the heart of Salem, Oregon. Constructed in 1924, the property boasts a charming historic faГ§ade and benefits from a highly visible location, ideal for attracting customers. Currently zoned MU-II, this versatile space offers a multitude of potential uses. The interior layout includes a spacious front lobby area, a large open room (approximately 1500 square feet) suitable for a variety of uses such as dance studios, fitness centers, martial arts facilities, churches, or retail spaces. Two restrooms, two private offices, and a storage closet provide ample functional space. The building's classic architecture blends seamlessly with modern potential, making it an attractive option for businesses seeking a unique and well-located space. This property represents a rare chance to acquire a piece of Salem's history while capitalizing on its significant commercial potential. The asking price for this prime retail investment is $400,000. The property's size, location, and zoning make it a compelling investment prospect for discerning buyers. Don't miss this chance to own a piece of Salem's vibrant commercial landscape.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.