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Bought with Non Rmls Broker
$875,000
$1,100,000
20.5%For more information regarding the value of a property, please contact us for a free consultation.
7,350 SqFt
SOLD DATE : 03/24/2025
Key Details
Sold Price $875,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 7,350 sqft
Price per Sqft $119
MLS Listing ID 23136436
Sold Date 03/24/25
Year Built 1916
Annual Tax Amount $7,682
Tax Year 2022
Lot Size 1.250 Acres
Property Sub-Type Other
Property Description
Prime redevelopment opportunity in West Salem! Potential for a variety of uses, including multi-family housing, apartments, office space, retail shops, cafes & restaurants. Five contiguous parcels totaling around 1.25 acres (including the current alley). Located within the West Salem Central Business is already zoned for commercial & mixed-use developments. Existing structures (residential homes, a pole building & a mini storage business) could either be leveraged in the redevelopment plans or potentially cleared for a fresh start. Current rents being below market value indicates a potential for increased revenue.
Location
State OR
County Polk
Area _168
Zoning IP
Interior
Heating Other
Exterior
Garage No
Building
Sewer Public Sewer
Water Public Water
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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