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    Property profile & analytics
    OFF-MARKET Estimated value $3,050,000
    Retail space

    3405 Commercial SE St, Salem, OR 97302-3864

    9,000 SF 1.71 ac lot Built 1994
    Entity Owned 27-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US71-0874752
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Freeway Insurance Insurance Agency
    • Ibendoo ramen Restaurant
    • Simply Pho Restaurant
    • Great Harvest Bread Co. Bakery Specialty Food Shop
    • T-Mobile Authorized Retailer Mobile Phone Store Electronics & Wireless Store
    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
    Pks Development Co INC · 27 yrs held
    Pks Development Co INC
    since 1999
    3 recorded transactions
    1999
    1993
    $510,000
    1969
    Zoning & alternative use
    CR · Salem, OR
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Restaurant $4.0M +79.0%
    Auto repair, garage $3.2M +44.9%
    Medical building $3.0M +37.2%
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