Courtesy of SVN COMMERCIAL ADVISORS, LLC, CURT ARTHUR, Direc: 503-588-0400
Active
1310-1328 State St
Salem OR, 97301
$1,419,000
$153.37 per sqft
Active
9,252 sqft
Commercial
Accepted Offer with Contingencies. The subject property is comprised of three (3) ground-floor retail tenants (Valiant the Sandwich, Al Aqsa Mediterranean Restaurant, and Willamette Hair Studio) with seven (7) apartments on the second floor. Apartment units have experienced gradual improvements with turnover. State Street is to be improved to one lane of traffic in each way soon, with extra large bike and pedestrian lanes to encourage more of a community feel. The Valiant suite has tremendous corner visibility and was a Subway for many years. Tremendous rent increase potential over time with moderate cap-ex. The asset is within walking distance of three of the region's largest employers - Salem Health, State of Oregon Capitol Mall, and Willamette University. This section of the State Street corridor has experienced an infusion of investment in recent years from both the private and public sectors, with more on the horizon.
811547
MLSⓇ ID
November 8, 2023
Listed
May 9, 2024
Updated
Map
1310-1328 State St
Salem OR, 97301
Interior Features
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.2 Acres
Other Property Details
Area Name
20 CENTRAL SALEM
Taxes
$12,524
Tax Frequency
Annually
Days on Market
183
Garage
No
View
No
County
Marion
Pool
No
Buyer Agency Compensation
2.5%
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