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    Property profile & analytics
    FOR LEASE
    Retail space

    1130 Royvonne Ave SE, Salem, OR 97302

    7,770 SF 0.91 ac lot Built 2007
    Entity Owned Absentee Owner ~ Est. High Equity
    Property ID
    US71-0786844
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Retail space
    Use group RETAIL STORES (PERSONAL SERVICES)
    Year built 2007
    Total area 7,770 SF
    Lot 0.91 ac (39,640 SF)
    Zoning code CR
    APN 083W10DD00302
    UPID US71-0786844
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Privet European Food and Bakery Grocery & Convenience Store Food Market
    • Super 7 Market Grocery & Convenience Store Food Market
    • Bangkok Thai Bistro Restaurant
    • Royal Thai Kitchen Restaurant
    • Русский магазин Department Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $2.73M
    Blend (final) Blend
    $2.55M
    Owner & transaction history
    Highlands Apts LLC
    Highlands Apts LLC
    1 recorded transaction
    1969
    Zoning & alternative use
    CR · Salem, OR
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Restaurant $3.4M +79.0%
    Auto repair, garage $2.8M +44.9%
    Medical building $2.6M +37.2%
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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