370 Veall Ln Salem, OR 97304

This exceptional mixed-use investment opportunity encompasses three contiguous parcels totaling 0.63 acres in Salem, Oregon's West Salem Central Business District. The property, located at 370 Veall Ln NW (and two additional parcels), currently features a portfolio of single-family rentals and a traditional office space, totaling 2,806 square feet. The property is 100% occupied with long-term tenants under a modified lease agreement. The current annual rental income is $20,700, with significant potential for rent increases given below-market rates. The existing structures, including residential homes and a pole building, present options for redevelopment or demolition. The site is already zoned for commercial and mixed-use developments, offering a wide range of possibilities, such as multi-family housing, apartments, office space, retail shops, or restaurants. This property presents a unique chance to capitalize on a prime location and strong rental income with the added benefit of an owner carry option. The asking price is $750,000. This is a truly remarkable redevelopment opportunity in a thriving Oregon business district.