Salem's Historic Grand
38,450 SF | 87% Leased | Retail Building | Salem, OR 97301 | $4,930,000 ($128/SF) | 7.20% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $4,930,000
- Property Type
-
Retail
- Square Feet
- 38,450 SF
- Price / Square Foot
- $128
Listing Contacts
Terry Hancock
Verified Profile
Kelsey Oran
Verified Profile
- Property Info
Property Overview
Salem's Historic Grand at 181-195 High Street NE is a 38,450-square-foot, multi-tenant, mixed-use building with a vibrant tenant mix in the heart of the Willamette Valley. Constructed in 1900 with over $2.5 million invested in recent upgrades, the building features three floors of retail, office, theater, event, and conference spaces. Historically known as the Chemeketa Lodge No. 1, Odd Fellows Building, and now Salem's Historic Grand, this building has been a gathering space for over a century.
Within a Walker's Paradise, Salem's Historic Grand is ideal for meeting, shopping, working, and picking up lunch or coffee nearby. This complex makes for easy commuting around the greater Salem area as it is two blocks from the Interstate 5 and Highway 22 exits. Situated on the corner of High Street NE and Court Street NE, this property is the transition point between public and private business in Salem's downtown core. For a landmark property with incredible accessibility, look no further than Salem's Historic Grand.
Within a Walker's Paradise, Salem's Historic Grand is ideal for meeting, shopping, working, and picking up lunch or coffee nearby. This complex makes for easy commuting around the greater Salem area as it is two blocks from the Interstate 5 and Highway 22 exits. Situated on the corner of High Street NE and Court Street NE, this property is the transition point between public and private business in Salem's downtown core. For a landmark property with incredible accessibility, look no further than Salem's Historic Grand.
Property Details
- Class
- B
- Year Built
- 1900
- Stories
- 3
- Property Subtype
- Storefront Retail/Office, Storefront, Loft/Creative Space, Medical
- Lot Size (sq. ft)
- 23,087 SF
Highlights
- Salem's Historic Grand is a prime investment opportunity to own a multi-tenant mixed-use building in the heart of the Willamette Valley.
- Located at the signaled intersection of High Street NE and Court Street NE, with exposure and visibility from 7,870 vehicles daily.
- Sited on 0.50 acres zoned Central Business District (CBD), this 38,450-square-foot building was built in 1900 and is in an opportunity zone.
- Find nearby landmarks like the Marion County Court, Salem Hospital, and Oregon State Capitol, plus conveniences like Starbucks and Wells Fargo.
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