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    Property profile & analytics

    3380 Lancaster Dr Salem, OR 97305

    • Grocery and convenience stores
    • 53,287 SF
    • 3.68 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Value Estimation
    Location Intelligence
    Property ID
    US71-0738229
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Wells Fargo Bank / Bank / Atm
    • Safeway / Florist / Organic Food Store
    • Wells Fargo ATM / Atm
    • KeyMe Locksmiths / Key Duplication Service / Emergency Locksmith Service
    • Safeway Bakery / Bakery

    Property Details for 3380 Lancaster Dr

    Year built
    1976
    Lot size
    3.68 lot acres
    Property size
    53,287 SF
    Zone code
    CR
    Property type
    Grocery and convenience stores
    APN
    072W18BA00500
    APU
    072W18BA00500

    Description

    Oak Park Plaza, located at 3380 Lancaster Dr NE in Salem, Oregon (97305), presents a compelling retail investment opportunity. This Safeway-anchored neighborhood center boasts 53,284 square feet on an 8.76-acre lot in Marion County's thriving Northeast Salem trade area. The property underwent extensive remodeling in 2012, including a new multi-tenant pad building completed in 2014, ensuring modern and attractive facilities. Currently, there are three available retail spaces ranging from 1,186 to 2,000 square feet, with a minimum divisible space of 1,553 square feet and a maximum contiguous space of 2,000 square feet. A total of 3,553 square feet is currently vacant. The center features a strong tenant mix of national and regional retailers, restaurants, and service providers, including Safeway, Ace Hardware, Starbucks, AutoZone, CSL Plasma, Jimmy John's, Little Caesars, T-Mobile, Papa Murphy's, Mariner Finance, and H&R Block. This high-volume center is situated along busy Lancaster Dr NE at Silverton Rd NE, offering excellent visibility and accessibility for businesses. The property's location within a growing area and its established tenant base make it an ideal investment for businesses seeking a strong foothold in the Salem market.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -122.982
    Latitude
    44.9688
    CBSA code
    41420
    CBSA name
    SALEM, OR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $99,501
    $0.00
    $0.00
    $6,551,900
    -
    $2,562,400
    $5,730,730
    $8,293,130

    Comparable in this City

    • Value Estimation by Request
      2,613 SF

      4602 Silverton NE Rd

      CONVENIENCE STORE • 2,613 SF
      4602 Silverton NE Rd, Salem, OR 97305-2939
      View Details
    • Value Estimation by Request
      1,932 SF

      4422 Lancaster NE Dr

      CONVENIENCE STORE • 1,932 SF
      4422 Lancaster NE Dr, Salem, OR 97305-1551
      View Details
    • Value Estimation by Request
      37,848 SF

      4746 Portland NE Rd

      GROCERY, SUPERMARKET • 37,848 SF
      4746 Portland NE Rd, Salem, OR 97305-1760
      View Details
    • Value Estimation by Request
      2,613 SF

      2002 Lancaster NE Dr

      CONVENIENCE STORE • 2,613 SF
      2002 Lancaster NE Dr, Salem, OR 97305-1231
      View Details
    • Value Estimation by Request
      5,286 SF

      5504 Hazelgreen NE Rd

      CONVENIENCE STORE • 5,286 SF
      5504 Hazelgreen NE Rd, Salem, OR 97305-9502
      View Details
    • Value Estimation by Request
      3,862 SF

      4592 Silverton NE Rd

      CONVENIENCE STORE • 3,862 SF
      4592 Silverton NE Rd, Salem, OR 97305-2937
      View Details

    Similar Nearby for Sale

    • $4,360,000
      37,870 SF

      Retail Property Near Interstate 5

      Retail property with value-add opportunity in North Salem.
      4746 Portland Rd NE, Salem, OR 97305
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    • $177,000

      Luxury Apartments with Private Pools

      Sophisticated apartments with terraces and private swimming pools.
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      Spacious Duplex on Large Lot

      Two well-maintained homes on a 0.58-acre lot, perfect for families.
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    • Contact for pricing
      1.39 Acres

      4707 Silverton Rd NE

      Land • 10,059 SF
      4707 Silverton Rd, Salem, OR 97305
      View Details
    • Contact for pricing

      Commercial Land on Lancaster Drive

      High-exposure commercial/retail development lot on Lancaster Drive NE.
      3271 Lancaster Dr NE, Salem, OR 97305
      View Details
    • $60,000

      Move-In Ready Home in 55+ Community

      Comfortable 3-bedroom home in a convenient 55+ community.
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    Similar Nearby for Lease

    • $1.70 SF/Yr
      22,351 SF

      Prime Retail Space in Salem

      High-traffic retail space in SunnyLan Retail Center, Salem, OR.
      2118 Lancaster Dr Northeast, Salem, OR 97305
      View Details
    • $1.42 SF/Yr
      1,920 SF

      Retail Space in Salem, Oregon

      Retail space available with high traffic and good parking.
      1955 Lancaster Dr NE, Salem, OR 97305
      View Details
    • $1.83 SF/Yr
      3,010 SF

      Retail Space Available For Rent

      Retail space available for lease in Salem, Oregon.
      3815 Devonshire Ave NE, Salem, OR 97305
      View Details
    • $6,100,000
      1,868 SF

      Retail Space on Lancaster Drive

      Retail space available in high-traffic Salem location.
      2025-2423 Lancaster Dr NE, Salem, OR 97305
      View Details
    • Contact for pricing
      2,538 SF

      Retail Space on Lancaster Drive

      Retail space in a high-traffic shopping center location.
      2319 Lancaster Dr NE, Salem, OR 97305
      View Details
    • $24 SF/Yr
      1,553 SF

      Retail Space in Oak Park Plaza

      Retail space available in high-volume, Safeway-anchored shopping center.
      3278-3380 Lancaster Dr NE, Salem, OR 97305
      View Details
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    3380 Lancaster Dr
    Salem, OR 97305
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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