1320 Chemeketa StSalem, OR 97301

Property Details for 1320 Chemeketa St

Year built

1923

Lot size

0.22 AC

Property size (Sq ft)

3,281 SF

Zone code

RH

Property type

Medical offices

Property subtype

Medical space

APN

073W26BA09900

APU

073W26BA09900

Description

This exceptional two-story medical office building, located at 1320 Chemeketa St NE in Salem, Oregon, presents a unique investment opportunity. Originally constructed in 1923 and thoughtfully converted, this property offers 2,941 square feet of versatile space, previously occupied by a dental practice and possessing conditional use approval. The building boasts updated electrical and plumbing systems, ensuring modern functionality within its historic character. Ample parking is available on-site, supplemented by convenient street parking. The property's prominent location provides excellent signage opportunities for enhanced visibility and brand recognition. The building sits on a lot zoned RS and includes a 340 square foot garage. With eight parking spaces and a total building size ranging from 340 to 2,941 square feet, this property is ideal for a variety of medical or professional office uses. The asking price is $890,000. This is a rare chance to acquire a well-maintained, historically significant building in a desirable Salem location.

• CAP approach

  CAP return

  Valuation

  6%

  $602,762

  6.5%

  $556,395

  7%

  $516,653

• Comparable approach

  Method

  Valuation

  Relative Method

  $516,771

  Geo Method

  $631,855

• Alternative Use

  Use

  Valuation

  Residential

  $689,930

  Hospitality

  $631,972

  Educational

  $525,794

  Medical

  $543,876

  Retail

  $817,901

Location Insight

City

Salem

County

Marion

State

Oregon

Latitude

44.9386

Longitude

-123.024

CBSA code

41420

CBSA name

SALEM, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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