1990 Wallace Rd NW, Salem, OR 97304
For Sale
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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.
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.