2927 Broadway St NE Salem, OR 97303
For Lease
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Chelsica Plaza, located at 2927 Broadway St NE, Salem, OR 97303, presents a fantastic retail opportunity. This single-story, Class B commercial building boasts a total of 28,645 square feet, divided into 30 suites. Currently, 1,357 square feet of retail space is available, ideal for a variety of businesses. The property sits on a 2.21-acre lot and is conveniently located near the intersection of Broadway St NE and Martin Luther King JR Blvd, offering excellent visibility and accessibility. The center enjoys a high-traffic location, easily accessible from Salem Parkway and close to downtown Salem. Strong co-tenancy includes established businesses such as Dollar Tree, Sally Beauty, H&R Block, and Love Love Teriyaki, ensuring a vibrant and busy retail environment. Nearby businesses include Jack in the Box, Les Schwab, McDonald's, Key Bank, and several new car dealerships, further enhancing the area's commercial appeal. The available space features an ADA-compliant restroom, a private office, and a back storage/break room area with water access. The property is zoned CR. This is an exceptional opportunity to establish or expand your retail presence in a thriving Salem location.
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Sally Beauty (Bike/Boat/Book/etc) Store Cosmetic Store
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Yum Yum Teriyaki Restaurant
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Wholesale Outlet Discount Store Clothing & Fashion Store
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Pasta Boss Restaurant
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Cooper’s Food Market Restaurant
The purpose of the Commercial Retail (CR) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards. The CR zone generally allows a wide array of retail sales and office uses.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CR · Salem, ORThe purpose of the Commercial Retail (CR) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards. The CR zone generally allows a wide array of retail sales and office uses.
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.
