1136 Lancaster DrSalem, OR 97301

Property Details for 1136 Lancaster Dr

Year built

1986

Lot size

0.25 AC

Property size (Sq ft)

4,830 SF

Zone code

CR

Property type

Other commercial real estate

APN

072W19CA07300

APU

072W19CA07300

Description

This exceptional Salem, Oregon retail property, located at 1136 Lancaster Dr NE, presents a compelling investment opportunity. The 4,830 square foot building sits on a 10,890 square foot lot and is currently fully leased to a tenant with a remaining lease term of six years. The lease includes annual rent increases of 3%, starting at $77,408 annually in August, providing a strong and predictable income stream. The tenant is responsible for all operating expenses, excluding roof and structural maintenance, minimizing the owner's operational responsibilities. This property is ideally suited for investors seeking a stable, high-yield investment with long-term growth potential. The property's location in Salem, within Marion County, offers excellent visibility and accessibility. The asking price for this turnkey retail investment is $1,190,000. Please note that the tenant should not be disturbed. This is a fantastic opportunity to acquire a well-maintained, income-producing retail property in a desirable location. Serious inquiries only.

• Alternative Use

  Use

  Valuation

  Residential

  $1,015,654

  Hospitality

  $930,334

  Educational

  $774,027

  Medical

  $800,647

  Retail

  $1,204,042

Location Insight

City

Salem

County

Marion

State

Oregon

Latitude

44.9449

Longitude

-122.983

CBSA code

41420

CBSA name

SALEM, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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