Property profile

3405 Commercial SE St Salem, OR 97302

OFF-MARKET
Retail space
Property ID
US71-0874752
9,000 SF 1.71 ac lot Built 1994
Entity Owned 27-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 1,200 square foot retail space, located at 3405 Commercial St SE in Salem, Oregon, presents a remarkable opportunity for a discerning business owner. Situated within a larger 9,000 square foot building constructed in 1994, this single-tenant space is ideally suited for a variety of retail uses, previously operating as a bakery. The property boasts a prime location in a high-traffic commercial area, ensuring excellent visibility and foot traffic. The single-story building is zoned CR (Commercial Retail) and features a flexible layout, perfect for showcasing merchandise with large storefront windows. The address is easily accessible, situated near the intersection of Commercial Street SE and Triangle Street in Marion County, Oregon (zip code 97302). The property's Asset Property Number (APN) is 572730. This space offers a compelling combination of location, size, and affordability, making it an attractive option for businesses seeking to establish or expand their presence in a thriving South Salem market. Lease rates are competitive and reflect the current market value. The property is ready for immediate occupancy. Inquire today to learn more about this exceptional retail opportunity.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1994
Total area 9,000 SF
Lot 1.71 ac (74,488 SF)
Zoning code CR
APN 083W03BD03300
UPID US71-0874752

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Insurance Agency
  • Restaurant
  • Restaurant
  • Bakery Specialty Food Shop
  • Mobile Phone Store Electronics & Wireless Store

Location

3405 Commercial SE St Salem, OR 97302-3864
Salem metro Census 2101 SALEM, OR METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.16M
Blend (final) Blend
$3.05M

Owner & transaction history

since 1999
3 recorded transactions
1999
Price N/A
1993
$510,000
1969
Price N/A

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
Top alternative use upside
Restaurant $4.0M +79.0%
Auto repair, garage $3.2M +44.9%
Medical building $3.0M +37.2%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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