Property summary
501 East Market Street is a commercial property located a few blocks from the Salem town square, comprising more than 175,000 square feet of warehouse space and about 5,500 square feet of finished office space, with additional office space contained within the warehouse areas. The site covers 22 acres and provides access from three city streets. The property includes 440 3-phase electric service for the warehouse facilities and a dedicated fire suppression loop with multiple hydrants. Based on its configuration and supporting utilities, the site has potential for multiple uses, including land development and creekside development that could accommodate residential apartments or business uses, as well as event venue or flea market use.
Property profile
VerifiedCap rate & NOI
Current use
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Law Firm
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Take-out & Catering Catering Service
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Food Processing Plant
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Environmental Consultant
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Real Estate Agency
Location
Value estimations
Owner & transaction history
Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Property tax & assessments
Property description
Physical attributes from public recordsZoning & alternative use
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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