1310-1328 State St, Salem, OR 97301

$1,419,000
9,252
SqFt

Listing Courtesy of SVN COMMERCIAL ADVISORS, LLC. Direc: 503-588-0400

Property Description

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.

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Based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided AS IS and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.