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