2710 Commercial StSalem, OR 97302

Property Details for 2710 Commercial St

Lot size

0.48 AC

Zone code

CR

Property type

Retail properties

Property subtype

Banks

APN

073W34CD01802

APU

073W34CD01802

Description

This 3,612 square foot standalone retail building in Salem, Oregon, is available for lease. Located at 2710 Commercial St SE, this single-tenant property offers a prime location with high visibility and traffic counts of 42,950 vehicles daily. The building's former use as a bank provides unique features including a drive-thru, a welcoming lobby, a vault, four private offices, and two restrooms. The interior boasts Class A finishes, such as LED lighting, newer carpet, and updated fixtures. The spacious 21,669 square foot lot provides ample parking and outdoor space. The Mixed Use III zoning allows for a variety of uses, making it ideal for professional retail or office tenants seeking a high-traffic location. The property is conveniently situated within walking distance of numerous businesses and retailers, further enhancing its appeal and accessibility. This well-maintained building presents a fantastic opportunity for a business seeking a prominent presence in a thriving Salem commercial district. The lease rate is $2.25 per square foot, NNN. The property is located in Marion County, Oregon, zip code 97302.

• CAP approach

  CAP return

  Valuation

  6%

  $5,646,637

  6.5%

  $5,212,280

  7%

  $4,839,974

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,298,996

  Geo Method

  $10,147,171

• Alternative Use

  Use

  Valuation

  Residential

  $4,396,754

  Hospitality

  $4,027,402

  Educational

  $3,350,752

  Medical

  $3,465,989

  Retail

  $5,212,280

Location Insight

City

Salem

County

Marion

State

Oregon

Latitude

44.9147

Longitude

-123.045

CBSA code

41420

CBSA name

SALEM, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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