Established and well-located multi-tenant investment property in Salem, Oregon. This 100% leased retail property includes 55,472 SF of building space. Current tenants are established local names: the Oregon Department of Motor Vehicles, Judy's Appliances, Physiq Fitness gym and Mega Markdowns retail store; all of which are on long term (5-10yr) leases. 4825 Commercial Street Southeast is an investment opportunity located within a retail complex in a highly trafficked area of Southeast Salem. This retail complex includes three buildings, one of which is the subject property, who all share the site’s parking lot, a total of 398 spaces, through a shared parking agreement. **The owner of Physiq Fitness is interested in being a partner in the building, and they are willing to sign a long-term lease.** Under the shared parking agreement, each parcel/building owner is responsible for paying a percentage of the common area operations and maintenance. The owner of the subject property is in charge of managing the shared parking agreement for the retail complex and is responsible for 68.22% of the total shared parking CAO&M. This investment property opportunity is located in one of the highest income demographic areas of our community. Located only six minutes from Interstate-5 North and South, the Southeast Salem area continues to expand with more single and multi-family developments to meet the demands of record growing population numbers. As one of the best future developable areas in Salem, many national retailers, like Trader Joes and Costco, have moved to the area. Buyer to be responsible for verifying occupancy with City of Salem. Email listing broker for proforma and lease information.
| Property Type | Retail |
|---|---|
| Property Use | Rental or Investment |
| Year Built | 1983 |
| Level Number | 1 |
| Zoning | CR |
| Average Daily Rate | 100 |
| Listing ID | VCCJPN |
| MLS ID | 791808 |
| Style | Retail – Free Standing |
| Building Size | 55,472 SF |
| Lot Size | 3.79 AC |
Property Highlights
100% leased - 6.57% CAP
High-traffic counts
Established tenants (5-10yr terms)
398 shared parking spaces
Near major arterial in S. Salem
Area DescriptionRegion: Pacific Northwest
Region: Willamette Valley
Region: SE Salem
| Parking Places: | 398 |
| Docks: | 2 |
| Lot Size: | 2-5 Acres |
| Age: | 31-40 Years Old |