1302 Lancaster Dr NE Salem, OR 97301
Property profile & analytics
1302 Lancaster Dr NE, Salem, OR 97301
- Turn key restaurants
- 9,155 SF
- 2.89 lot acres
Property ID
US71-1004682
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.
Location Intelligence
Current Use by Public Records
- Olive Garden Italian Restaurant / Restaurant
Property Details for 1302 Lancaster Dr NE
- Year built
- 1992
- Lot size
- 2.89 lot acres
- Property size
- 9,155 SF
- Zone code
- CR
- Property type
- Turn key restaurants
- APN
- 072W19CA05200
- APU
- 072W19CA05200
Description
This exceptional 36,590 square foot commercial land parcel presents a compelling investment opportunity in Salem, Oregon. Located at 1302 Lancaster Dr NE, this highly visible pad sits adjacent to a thriving Olive Garden restaurant, ensuring significant exposure to a substantial customer base. The property's strategic location offers easy access to major thoroughfares, including Interstate 5 via Market Street, maximizing convenience for both businesses and customers. Its proximity to established retail anchors like Fred Meyer and Willamette Town Center further enhances its desirability and potential for strong returns. The asking price for this prime commercial land is $1,100,000. This represents a rare chance to acquire a well-situated property in a bustling area of Salem, ideal for a variety of commercial developments. The property is zoned for commercial use (verification of zoning with local authorities is recommended). The large lot size provides ample space for a substantial building or development, catering to a wide range of business needs. Don't miss this opportunity to secure a prominent location in a thriving commercial corridor. Broker co-op is available.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $6,332,000
- AI Estimate
- $4,505,000
Market price range: $1.80M - $6.33MMarket price range: $1.78M - $4.51M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $4,035,000 Current use
- AUTO REPAIR, GARAGE
- $3,270,000 Change: -19% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Marion
- State
- Oregon
- Longitude
- -122.983
- Latitude
- 44.9465
- 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
$66,519
$0.00
$0.00
$3,389,180
-
$2,102,100
$1,831,000
$3,933,100
