1111-1117 Edgewater St, Salem, OR 97304

This exceptional Salem, Oregon retail property, located at 1111-1117 Edgewater St (APN 07321-DC-10800), presents a compelling investment opportunity. The 7,940 square foot building sits on a 0.23-acre lot and boasts a strong 7.58% cap rate, generating a net operating income (NOI) of $105,706. Priced at $1,395,000 ($167.55/SF), this property offers significant potential for return. Constructed in 1940 and extensively renovated in 2024 (including a new roof), the building is zoned ESMU and comprises three separately leased spaces. Two tenants, Max & Ro Hair Design and The Vault, currently occupy the space. Max & Ro underwent a major renovation in 2016, while The Vault (and the former Old Zen Wine Bar space) received renovations in 2020. The Vault features a fully equipped kitchen with a hood. This prime location along the Edgewater Street corridor in Salem (zip code 97304) offers excellent visibility and accessibility. The property's recent renovations, established tenants, and strong financial performance make it an attractive investment for discerning buyers. This is a rare opportunity to acquire a well-maintained, high-performing retail property in a desirable location.