1221 River Bend RdSalem, OR 97304

Property Details for 1221 River Bend Rd

Year built

2023

Lot size

1.95 AC

Property size (Sq ft)

10,780 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a fully leased, Class A retail center in Salem, Oregon. The property, completed in 2023, encompasses 10,780 square feet across two buildings on a 1.95-acre lot. The portfolio includes five tenants, boasting 100% occupancy since March 1, 2023, generating a strong NOI of $624,355 and a 7.90% cap rate. The property features a vibrant mix of retail spaces and a unique food truck pavilion, Checkpoint 221, with a full bar. Strategically located at 1221 Riverbend Rd NW, in Polk County, the center benefits from high visibility at a signalized intersection and proximity to two large apartment complexes (a 48-unit complex and a 201-unit complex under construction), ensuring consistent customer traffic. The property is zoned CR CO and offers a compelling net lease investment with a multi-tenant structure. The asking price is $7,900,000, representing a price per square foot of $732.84. This turnkey operation provides immediate income and significant long-term growth potential. The sale includes both the real estate and the established Checkpoint 221 business. Detailed financial statements are available upon request.

Location Insight

City

Salem

County

Polk

State

Oregon

Latitude

44.9682

Longitude

-123.061

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