466 Court StSalem, OR 97301

Property Details for 466 Court St

Year built

1900

Property size (Sq ft)

1,638 SF

Zone code

CB

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

073W27AB90004

APU

073W27AB90004

Description

This exceptional 4,520 square foot, two-story commercial property located at 466 Court St NE, Salem, OR 97301, presents a unique investment or owner-user opportunity. Built in 1900 and situated on a 0.4-acre lot, this Class B building boasts a permitted CB zoning. The property has undergone a complete renovation, including new plumbing, electrical, HVAC systems, and flooring. The main floor features two distinct restaurant spaces; one currently houses a new fine dining establishment and bar, while the other is designed for private events. A large kitchen supports two full bars and a dedicated prep kitchen. The second floor offers a sophisticated private dining area with its own intimate bar and beautifully landscaped surroundings. This versatile property is ideal for a variety of uses, offering upscale appeal and significant potential for a discerning buyer. The property is located in the heart of downtown Salem and benefits from high visibility and foot traffic. This is a rare opportunity to acquire a fully updated, high-quality commercial property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $373,143

  6.5%

  $344,439

  7%

  $319,837

• Comparable approach

  Method

  Valuation

  Relative Method

  $399,887

  Geo Method

  $488,941

• Alternative Use

  Use

  Valuation

  Residential

  $344,439

  Hospitality

  $315,505

  Educational

  $262,496

  Medical

  $271,524

  Retail

  $408,327

Location Insight

City

Salem

County

Marion

State

Oregon

Latitude

44.9406

Longitude

-123.037

CBSA code

41420

CBSA name

SALEM, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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