Property summary
Academy Square, located at 922 Lancaster Dr NE in Salem, Oregon, presents a compelling opportunity for retail and office tenants. This single-story, 44,960 square foot Class B building, constructed in 1979, sits on a 4.71-acre lot and features 21 suites. Currently, 4,400 square feet of space is available, divisible into units as small as 1,560 square feet, with a maximum contiguous space of 4,400 square feet. The property boasts excellent visibility and parking ratios, enhanced by its strategic location directly across from Willamette Town Center, within Salem's most concentrated retail area on the Lancaster Drive corridor. The zoning is CR (Commercial Retail). The property's address is further identified by its cross street, D Street, and its Marion County APN is R23358. Tenant improvement funds are available for qualified tenants and lease terms. The building does not have elevators. This is an exceptional opportunity to establish or expand a business in a high-traffic, established retail center. The property is situated in the Lancaster Dr submarket and has a 97301 zip code.
Property profile
VerifiedCap rate & NOI
Current use
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Restaurant
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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…
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
CR · Salem, ORThe 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…
Zoning
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Zoning designation
Official district profile
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…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CR in Salem, OR.
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