PROPERTY DESCRIPTION Owned by a local, long-time real estate development family, this property is one of the largest remaining developable land parcels within the Salem city limits and the UGB. This developable property is currently zoned RA, but has plans for sections to be rezoned to MU-II and RM2 by Fall 2022. There is 133.9 AC of land currently zoned residential agriculture (RA). The City of Salem plans for approximately 62.4 AC to be rezoned to MU-II (Mixed Use-II) and approximately 7.21 AC rezoned to RM2 (Multiple Family Residential-2) within the Our Salem Project. The remaining 64.3 AC will stay zoned at RA. There are 7 tax lots; one of which (Tax #572149) is a small strip of land on the far east side of the property. According to Westech Engineering, the property does not require a water tank, but a pump station needs to be designed. White oaks and storm sewer need to be addressed as part of the development process. FINANCIAL BREAKDOWN $275,000 an Acre (126.68AC) RA and proposed MU2. $275,000 x 126.68 AC = $34,837,000 $430,000 an Acre (7.21) proposed RM2. $430,000 x 7.21 AC = $3,100,300 Total Estimated Value = $37,937,300 Tax #s: 267993, 268002, 271488, 267906, 268130, 267683, 572149 Lots: 900, 1500, 1700, 1800, 1900, 2500, 6100 *Buyer to pay Buyer's Broker Commission* **These properties are owned & managed by a trust and this information is only based on information received and may be subject to change.**
|Property Type||Vacant Land (10+ Acres)|
|Zoning||RA, MU2, RM2|
|Lot Size||133.9 AC|
|Available Date||Feb 15th, 2022|
Area Description: Rolling hills of West Salem, off Orchard Heights Road. This property includes incredible views of West Salem Hills, Costal Range Mountains and Mt. Hood. There is easy access to Hwy 22 or Hwy 221 via Doaks Ferry Rd., while being less than 10 minutes to downtown Salem.
|Lot Size:||100+ Acres|