3650 Portland RdSalem, OR 97301

Property Details for 3650 Portland Rd

Year built

1995

Lot size

0.50 AC

Property size (Sq ft)

2,252 SF

Zone code

CR

Property type

Retail properties

Property subtype

Other automotive properties

APN

073W12CD00400

APU

073W12CD00400

Description

This exceptional 2,252 square foot commercial property at 3650 Portland Rd, Salem, OR, presents a rare opportunity for an owner-user. Boasting a prime location on a busy four-way intersection just one mile from I-5, this established car lot has enjoyed success as Salem Motor Sports for 36 years. The property includes a spacious first-floor office and shop area, ideally suited for detailing, and a second-floor featuring three offices with skylights, providing ample natural light. Climate control is ensured with dual-level heating and cooling systems, supplemented by an overhead natural gas heater. The property sits on a half-acre corner lot, fully fenced for security, and benefits from prominent signage with a large pylon sign and two convenient ingress/egress points. The ample space can accommodate up to 70 vehicles. Seller financing is available with a substantial down payment. Inventory is not included in the sale price of $1,450,000. This is a turnkey operation ready for a new owner to continue its legacy of success. Don't miss this chance to acquire a well-established business in a high-demand location.

• CAP approach

  CAP return

  Valuation

  6%

  $608,170

  6.5%

  $561,388

  7%

  $521,289

• Comparable approach

  Method

  Valuation

  Relative Method

  $893,842

  Geo Method

  $1,092,899

• Alternative Use

  Use

  Valuation

  Residential

  $473,552

  Hospitality

  $433,771

  Educational

  $360,892

  Medical

  $373,304

  Retail

  $561,388

Location Insight

City

Salem

County

Marion

State

Oregon

Latitude

44.9729

Longitude

-123.003

CBSA code

41420

CBSA name

SALEM, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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