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    Property profile

    3271 Lancaster Dr NE Salem, OR 97305

    FOR LEASE
    Commercial land
    Property ID
    US71-0732014
    8,332 SF 0.64 ac lot Built 1973
    Entity Owned 1-yr Hold Absentee Owner Free & Clear
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    3271 Lancaster Dr NE, Salem, OR 97305 For Lease
    Contact for pricing
    3271 Lancaster Dr NE, Salem, OR 97305
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    Property summary

    AI-generated overview

    A commercial and retail development lot located on Lancaster Drive NE in proximity to a Dairy Queen and Howard Commons Apartments. The site is positioned on one of the remaining developable parcels along Lancaster Drive and is suited for commercial and retail development subject to required approvals. Development and access considerations require coordination and due diligence with the City of Salem and Marion County.

    Property profile

    Verified
    Property type Commercial land
    Use group VACANT COMMERCIAL LAND
    Year built 1973
    Total area 8,332 SF
    Lot 0.64 ac (27,878 SF)
    Zoning code CR
    APN 072W18BB06000
    UPID US71-0732014

    Cap rate & NOI

    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors

    Location

    3271 Lancaster Dr NE Salem, OR 97305
    Salem metro Census 1607 SALEM, OR METROPOLITAN STATISTICAL AREA
    Google Maps

    Value estimations

    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.16M
    Blend (final) Blend
    $965k

    Owner & transaction history

    since 2025
    Last sale
    $700,000
    7 recorded transactions
    2025
    Price N/A
    2025
    $700,000
    2020
    $533,800
    2020
    $375,825
    2018
    Price N/A
    2018
    $553,800
    2015
    $1.1M

    Zoning & alternative use

    CR · Salem, OR
    Zoning description

    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. Th…

    General category COMMERCIAL

    Comparables

    6 recent transactions · within 1.5 mi
    Comparable in this city
    6 recent transactions

    Comparable in this City

    • Value Estimation
      $550,000
      0.41 Acres
      4035 Silverton NE Rd
      VACANT COMMERCIAL LAND
      4035 Silverton NE Rd, Salem, OR 97305-2052
      View Details
    • Value Estimation
      $115,000
      0.15 Acres
      4776 Niles NE Ave
      VACANT COMMERCIAL LAND
      4776 Niles NE Ave, Salem, OR 97305-1155
      View Details
    • Value Estimation by Request
      2.49 Acres
      Salem, OR 97305
      VACANT COMMERCIAL LAND
      Salem, OR 97305
      View Details
    • Value Estimation by Request
      2.85 Acres
      2900 Evanston NE St
      VACANT COMMERCIAL LAND
      2900 Evanston NE St, Salem, OR 97305-1113
      View Details
    • Value Estimation by Request
      14.80 Acres
      Salem, OR 97305
      VACANT COMMERCIAL LAND
      Salem, OR 97305
      View Details
    • Value Estimation by Request
      1.25 Acres
      Salem, OR 97305
      VACANT COMMERCIAL LAND
      Salem, OR 97305
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.30 Acres
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    • $185,000
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      3,125 SF
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    Similar Nearby for Lease

    • Contact for pricing
      0.30 Acres
      High-Exposure Retail Development Lot
      Commercial retail development lot on Lancaster Dr NE next to Dairy Queen and Howard Commons Apartments.
      3271 Lancaster Dr NE, Salem, OR 97305
      View Details
    • New
      Contact for pricing
      Freestanding Office Building with Land
      Two-story office building with land in North Salem.
      4707 Silverton Rd NE, Salem, OR 97305
      View Details
    • $7,439/Mo
      Anchored Shopping Center Space
      Retail space in a Salem shopping center with Bottle Drop, Verizon, and RAC as named anchors.
      1991 Lancaster Dr Unit: 1915, Salem, OR 97305
      View Details
    • Contact for pricing
      Retail Space with Drive-Through
      New-construction shell space includes restroom and partition walls for flexible retail configuration.
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    • Contact for pricing
      12,896 sqft
      Sprinklered Warehouse with Dock Loading
      Industrial warehouse with multiple loading options, substantial clear height, and 480V, 3-phase power.
      4907 Indian School Rd NE, Salem, OR 97305
      View Details
    • $4,260/Mo
      Shopping Center Retail Space
      Unit 1915 is part of a multi-tenant center with Bottle Drop, Verizon, and RAC.
      1901 Lancaster Dr Unit: 1915, Salem, OR 97305
      View Details
    Recent comparable sales
    Sale price & price/SF · Sale date & distance · Adjustments & confidence
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