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    Property profile & analytics

    1120 Lancaster SE Dr Salem, OR 97317-5837

    • Retail space
    • 10,138 SF
    • 0.82 lot acres
    OFF-MARKET
    Value Estimation
    $12,280,000
    Last Sale
    Dec 19, 2024
    $12,250,000
    Location Intelligence
    Property ID
    US71-0646523
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Metro by T-Mobile / Telecommunications Service Provider / Cell Phone Accessory Store
    • Cricket Wireless Authorized Retailer / Cell Phone Store
    • Cricket Wireless / Cell Phone Store

    Property Details for 1120 Lancaster SE Dr

    Year built
    1992
    Lot size
    0.82 lot acres
    Property size
    10,138 SF
    Zone code
    CR
    Property type
    Retail space
    APN
    072W31D 00500
    APU
    072W31D00500

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $12,250,000

    • CAP approach

      CAP return
      Estimation
      6%
      $13,145,000
      6.5%
      $12,375,000
      7%
      $12,535,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $10,460,000
      Geo Method
      $13,640,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $11,805,000
      Retail
      $11,740,000
      Mixed-Use
      $12,600,000
      Hospitality
      $14,160,000
      Educational
      $11,330,000
      Residential Income
      $14,945,000
      Energy
      $13,985,000
      Income-Based Land
      $12,885,000
      Food Service
      $11,275,000

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -122.979
    Latitude
    44.915
    CBSA code
    41420
    CBSA name
    SALEM, OR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $32,506
    $0.00
    $0.00
    $1,697,100
    -
    $571,500
    $1,125,600
    $1,697,100

    Comparable in this City

    • Value Estimation by Request
      5,805 SF

      3997 Carson SE Dr

      RETAIL STORES (PERSONAL SERVICES) • 5,805 SF
      3997 Carson SE Dr, Salem, OR 97317-6300
      View Details
    • Value Estimation by Request
      5,684 SF

      4155 Rickey SE St

      RETAIL STORES (PERSONAL SERVICES) • 5,684 SF
      4155 Rickey SE St, Salem, OR 97317-6903
      View Details
    • Value Estimation by Request
      4,494 SF

      4157 Rickey SE St

      RETAIL STORES (PERSONAL SERVICES) • 4,494 SF
      4157 Rickey SE St, Salem, OR 97317-6904
      View Details
    • Value Estimation by Request
      13,751 SF

      3950 Hagers Grv SE Rd

      RETAIL STORES (PERSONAL SERVICES) • 13,751 SF
      3950 Hagers Grv SE Rd, Salem, OR 97317-6104
      View Details
    • Value Estimation by Request
      4,634 SF

      4155 Rickey SE St

      RETAIL STORES (PERSONAL SERVICES) • 4,634 SF
      4155 Rickey SE St, Salem, OR 97317-6903
      View Details
    • Value Estimation by Request
      12,028 SF

      132 Lancaster SE Dr

      RETAIL STORES (PERSONAL SERVICES) • 12,028 SF
      132 Lancaster SE Dr, Salem, OR 97317-5331
      View Details

    Similar Nearby for Sale

    • $1,525,000
      9 SF

      Retail and Office Space Available

      Mix of retail and professional office spaces for sale.
      850-862 Lancaster Dr SE Salem, Salem, OR 97317
      View Details
    • $950,000
      6,039 SF

      Macleay Country Inn Restaurant For Sale

      Long-standing restaurant, store, and home with seller financing available.
      8342-8362 Macleay Rd SE, Salem, OR 97317
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    • $6,950,000
      4,200 SF

      Retail Strip Center For Sale

      Two-building retail strip center with vacancy, remodeled in 2019.
      1420 Lancaster Dr NE, Salem, OR 97317
      View Details
    • Contact for pricing

      Retail Property in Salem, Oregon

      Retail property available for sale in Salem, Oregon.
      3930-3970 Rickey St SE, Salem, OR 97317
      View Details
    • $17,250,000
      109,289 SF

      Lancaster Drive Retail Center For Sale

      Fully occupied retail center anchored by WinCo with long-term tenants.
      1250 Lancaster Dr SE, Salem, OR 97317
      View Details
    • $6,766,985
      32.23 Acres

      Salem Industrial Land - 32 Acres

      Prime Salem location, 32 acres, diverse zoning.
      0 & Deer Park Cutoff Rd, Salem, OR 97317
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      119,137 SF

      Retail Space in Salem Hub

      Retail space available in a growing Salem retail hub.
      1120-1264 Lancaster Dr SE, Salem, OR 97317
      View Details
    • $1.42 SF/Yr
      3,000 SF

      Retail Space in Lancaster Center

      Retail space available in high-traffic Lancaster Center.
      1901-1917 Lancaster Dr NE, Salem, OR 97317
      View Details
    • $3,210,000
      3,536 SF

      Retail Space Near Lancaster Drive

      Retail space available near high-traffic intersection and major retailers.
      1120-1130 Lancaster Dr SE, Salem, OR 97317
      View Details
    • $24 SF/Yr
      2,933 SF

      Lancaster Drive Retail Spaces Available

      Retail spaces available in busy Lancaster Drive retail center.
      980-1126 Lancaster Dr NE, Salem, OR 97317
      View Details
    • $1.54 SF/Yr
      13,720 SF

      Freestanding Retail Building For Lease

      Class A retail building with showroom, dock, and drive-in bays.
      3950 Hagers Grove Rd SE, Salem, OR 97317
      View Details
    • $1.25 SF/Yr
      1,301 SF

      Retail Space on Busy Corridor

      Well-maintained retail space with ample parking and excellent signage.
      130-164 Lancaster Dr SE, Salem, OR 97317
      View Details
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    1120 Lancaster SE Dr
    Salem, OR 97317-5837
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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