1370 Smith StSalem, OR 97301

Property Details for 1370 Smith St

Year built

1967

Lot size

0.22 AC

Property size (Sq ft)

1,712 SF

Zone code

IC

Property type

Showrooms

APN

073W14DC00200

APU

073W14DC00200

Description

This North Salem property offers 2,950 square feet of versatile commercial space, ideal for various uses. The main building, totaling 2,150 square feet, features a blend of office and industrial areas, perfect for businesses needing both administrative and storage space. An additional 800-square-foot shop building provides extra storage capacity. The property also includes a sizable yard area. The space is currently entirely vacant and available for lease. Minimum leasable space is 400 square feet, with a maximum contiguous space of 1,150 square feet. The property is zoned MU-I, offering flexibility for a range of businesses. Conveniently located with easy access to Interstate 5 and downtown via Portland Road. The lease rate is $0.68 per square foot per month, NNN, resulting in a total monthly expense of $2,336. This presents a unique opportunity for businesses seeking a combination of office, industrial, and cold storage space in a prime location. The property's size and zoning make it suitable for a variety of commercial enterprises.

• CAP approach

  CAP return

  Valuation

  6%

  $462,339

  6.5%

  $426,774

  7%

  $396,290

• Comparable approach

  Method

  Valuation

  Relative Method

  $679,510

  Geo Method

  $830,836

• Alternative Use

  Use

  Valuation

  Residential

  $360,000

  Hospitality

  $329,758

  Educational

  $274,355

  Medical

  $283,790

  Retail

  $426,774

Location Insight

City

Salem

County

Marion

State

Oregon

Latitude

44.959

Longitude

-123.015

CBSA code

41420

CBSA name

SALEM, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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