For Lease
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Property summary
This exceptional investment opportunity presents a 2,614 square foot lot located at 1890 State Street in Salem, Oregon, 97301. The property, built in 1924, is zoned MU-II, offering versatile usage options. The building itself offers approximately 1,500 square feet of open space previously used as a karate and dance studio, along with two smaller rooms suitable for private offices, and a lobby/reception area including two restrooms. The main entry is conveniently located on 19th Street. Priced at $400,000, this property boasts a prime location in Salem's bustling retail district, providing high visibility and significant potential for a variety of retail businesses. Its historic charm and adaptable layout combine classic architecture with modern possibilities, making it an attractive investment for those seeking a blend of character and opportunity within a thriving commercial area. This is a rare chance to acquire a piece of Salem's vibrant retail landscape.
Property profile
VerifiedCap rate & NOI
Current use
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Clothing Store
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Property description
Physical attributes from public recordsZoning & alternative use
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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