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    FOR SALE
    Commercial real estate

    1990 Wallace Rd NW, Salem, OR 97304

    12.83 ac lot
    Individually Owned 8-yr Hold
    Property ID
    US71-0980388
    Property summary
    AI-generated overview

    This exceptional 12.83-acre commercial land parcel presents a unique development opportunity in West Salem, Oregon. Located at 1990 Wallace Rd NW, this property boasts significant potential due to its diverse zoning (SR/EFU) and strategic location. The sale encompasses multiple Polk County tax IDs: 314820, 314846, and 354776, with Marine Drive splitting parcels 314820 and 314864. The western portions of the land offer promising prospects for various development uses, while the eastern sections, situated outside the urban growth boundary, are partially within a flood plain. Convenient paved access is available via Wallace Road to parcel 354776. Existing infrastructure includes two wells and a barn, adding further value to this expansive property. The property's address is 1990 Wallace Rd NW, Salem, OR 97304, with GPS coordinates 44.962699 latitude and -123.050495 longitude. This prime location and substantial acreage make this an ideal investment for developers seeking a significant project in a growing area. The asking price is $950,000. Serious inquiries only.

    Property profile
    Verified
    Property type Commercial real estate
    Lot 12.83 ac (558,875 SF)
    APN 314820; 314846; 354776; 314820; 314864; 354776
    UPID US71-0980388
    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
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Mary L Clark · 8 yrs held
    Mary L Clark
    since 2017
    1 recorded transaction
    2017
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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