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1131 Lancaster Dr NE
Salem, OR 97301
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- High Traffic Retail Corridor
- Easy Access Property with Ample Parking
- Located Near Major National Retailers
EXECUTIVE SUMMARY
MARCUS & MILLICHAP’S THE GARSKE GROUP HAS BEEN EXCLUSIVELY
CHOSEN TO MARKET ACE CASH EXPRESS in Salem, Oregon, occupies
a 3,672 SF building on 0.26 acres along busy Lancaster Drive, one of the
city’s prime commercial corridors. Built in 1976, the property features
prominent signage and ample on-site parking, providing excellent visibility
and customer convenience. It is secured under a NNN lease with over five
years remaining and 3% annual rent increases, giving investors stable cash
flow with minimal landlord responsibilities. The tenant, Ace Cash Express,
is a nationally recognized leader in retail financial services, offering quick,
convenient access to cash, loans, and money management products.
The property benefits from a highly visible location shadow anchored by
McDonald’s next door and surrounded by a strong mix of national tenants
near Willamette Town Center, including Regal, Hobby Lobby, Barnes & Noble,
HomeGoods, TJ Maxx, Red Robin, and Dollar Tree. Proximity to local schools
and high-density apartment communities drives consistent foot and vehicle
traffic, supporting healthy tenant performance. Located in Salem, the state
capital of Oregon, this site combines strong demographics, retail synergy,
and established tenancy, making it a secure and attractive retail investment
opportunity.
CHOSEN TO MARKET ACE CASH EXPRESS in Salem, Oregon, occupies
a 3,672 SF building on 0.26 acres along busy Lancaster Drive, one of the
city’s prime commercial corridors. Built in 1976, the property features
prominent signage and ample on-site parking, providing excellent visibility
and customer convenience. It is secured under a NNN lease with over five
years remaining and 3% annual rent increases, giving investors stable cash
flow with minimal landlord responsibilities. The tenant, Ace Cash Express,
is a nationally recognized leader in retail financial services, offering quick,
convenient access to cash, loans, and money management products.
The property benefits from a highly visible location shadow anchored by
McDonald’s next door and surrounded by a strong mix of national tenants
near Willamette Town Center, including Regal, Hobby Lobby, Barnes & Noble,
HomeGoods, TJ Maxx, Red Robin, and Dollar Tree. Proximity to local schools
and high-density apartment communities drives consistent foot and vehicle
traffic, supporting healthy tenant performance. Located in Salem, the state
capital of Oregon, this site combines strong demographics, retail synergy,
and established tenancy, making it a secure and attractive retail investment
opportunity.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,672 SF
Building Class
C
Year Built
1976
Price
$1,000,000
Price Per SF
$272.33
Cap Rate
6.85%
NOI
$68,544
Tenancy
Single
Building Height
1 Story
Building FAR
0.32
Lot Size
0.26 AC
Zoning
CR
Parking
13 Spaces (5 Spaces per 1,000 SF Leased)
Frontage
41’ on Lancaster Dr
AMENITIES
- Bus Line
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 583428 | Improvements Assessment | $370,500 |
| Land Assessment | $164,160 | Total Assessment | $534,660 |
PROPERTY TAXES
Parcel Number
583428
Land Assessment
$164,160
Improvements Assessment
$370,500
Total Assessment
$534,660
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