1890 State St, Salem, OR 97301
For Lease
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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.
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Black Swan Boutique Clothing Store
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.