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    Property profile & analytics
    OFF-MARKET Estimated value $3,875,000
    Retail space

    5070 Commercial SE St, Salem, OR 97306-3573

    11,443 SF 0.97 ac lot Built 2002
    Entity Owned 4-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US71-0409580
    Property summary
    AI-generated overview

    Turnidge Corner, located at 5070 Commercial St SE in Salem, Oregon, presents a compelling opportunity for businesses seeking high-visibility retail or office space. This 32,500 square foot multi-tenant property, built in 2002 and renovated in 2018, sits on a 2.36-acre lot at the signalized intersection of Commercial Street and Kuebler Boulevard, boasting exceptional visibility and accessibility. Currently, 2,482 square feet of office space is available for lease. The property benefits from ample parking and excellent signage, making it highly attractive to potential customers. Its strategic location in South Salem places it within a thriving retail corridor, surrounded by established businesses including Applebee's, McDonald's, Dollar Tree, Sally's Beauty, and Miller's Paint Co., ensuring high foot traffic and brand recognition. The area's strong demographics, coupled with convenient access to I-5 and a large daytime population fueled by nearby industrial centers like Amazon, FedEx, and Home Depot Distribution Centers, create a robust market for this property. The property is zoned CR - Commercial Retail and is situated in Marion County, Oregon, zip code 97306. The landlord is highly motivated to lease the available space. This is an exceptional opportunity to establish a presence in a prime Salem location.

    Property profile
    Verified
    Property type Retail space
    Use group RETAIL STORES (PERSONAL SERVICES)
    Year built 2002
    Total area 11,443 SF
    Lot 0.97 ac (42,253 SF)
    Zoning code CR
    APN 083W14BB01704
    UPID US71-0409580
    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
    • CosmoProf (Bike/Boat/Book/etc) Store Cosmetic Store
    • Solar Nails 2 Nail Salon
    • Applebee's Grill + Bar Restaurant
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $4.02M
    Blend (final) Blend
    $3.88M
    Owner & transaction history
    Diamond Development LLC · 4 yrs held
    Diamond Development LLC
    since 2022
    6 recorded transactions
    2022
    2018
    1969
    1969
    1969
    1969
    Zoning & alternative use
    CR · Salem, OR
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Restaurant $5.0M +79.0%
    Auto repair, garage $4.1M +44.9%
    Medical building $3.9M +37.2%
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