1130 Royvonne AveSalem, OR 97302

Property Details for 1130 Royvonne Ave

Year built

2007

Lot size

0.91 AC

Property size (Sq ft)

7,770 SF

Zone code

CR

Property type

Retail properties

Property subtype

Retail space

APN

083W10DD00302

APU

083W10DD00302

Description

Highland Gardens, a two-building retail strip center in Salem, Oregon (97302), presents a compelling investment opportunity. Located at 1130 Royvonne Ave SE, near Commercial St SE, this property boasts excellent visibility and signage. The 8,352 square foot center, renovated in 2007, features multiple tenant spaces, with two currently available. Units range from a minimum of 670 square feet to a maximum contiguous space of 1,050 square feet, offering flexibility for various retail businesses. The property includes a newly paved lot and an additional outparcel building, enhancing its overall appeal and functionality. The CR zoning allows for a variety of retail uses. This prime location on a busy thoroughfare ensures high traffic and exposure, making it an ideal investment for those seeking a strong return in a thriving market. The property's recent renovation ensures modern amenities and low maintenance costs. The availability of multiple units provides opportunities for diverse tenant mixes, maximizing rental income potential. This is a rare opportunity to acquire a well-maintained, high-traffic retail center in a desirable Salem location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,098,348

  6.5%

  $1,936,937

  7%

  $1,798,584

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,083,992

  Geo Method

  $3,770,794

• Alternative Use

  Use

  Valuation

  Residential

  $1,633,879

  Hospitality

  $1,496,624

  Educational

  $1,245,174

  Medical

  $1,287,997

  Retail

  $1,936,937

Location Insight

City

Salem

County

Marion

State

Oregon

Latitude

44.8856

Longitude

-123.032

CBSA code

41420

CBSA name

SALEM, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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