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246 State St 4,573 SF 100% Leased Retail Building Salem, OR 97301 $1,045,000 ($228.52/SF)
INVESTMENT HIGHLIGHTS
- New roof in 2023
- Ground-floor non-profit tenant is on a month-to-month lease
- Designated as CB zoning and located in the Salem Downtown Historic District Overlay Zone and the Downtown Opportunity Zone
- Remodeled in 2019
- Two Apartments that were previously utilized as short-term rental accommodations.
- Located in the downtown Opportunity Zone
EXECUTIVE SUMMARY
The Historic Tiger Engine Co. No. 2 Fire House!
Discover a unique owner-user opportunity or investment opportunity with tremendous rental upside. This gorgeous, remodeled historic 4,573 +/-sq. ft. building, constructed in the 1900s, features a perfectly suited street retail or office space on the ground floor and two separate apartments located on the 2nd floor (1 bed/1 bath & 2 bed/1 bath). Zoned CB and nestled within the Salem Downtown Historic District overlay zone, this property boasts a rich history as Salem's second firehouse in the 1900s. With its timeless character and prime location, it offers the perfect blend of charm and functionality, making it an ideal choice for investors looking to capitalize on the growing demand for unique rental spaces and housing. Don’t miss out on this exceptional opportunity!
Discover a unique owner-user opportunity or investment opportunity with tremendous rental upside. This gorgeous, remodeled historic 4,573 +/-sq. ft. building, constructed in the 1900s, features a perfectly suited street retail or office space on the ground floor and two separate apartments located on the 2nd floor (1 bed/1 bath & 2 bed/1 bath). Zoned CB and nestled within the Salem Downtown Historic District overlay zone, this property boasts a rich history as Salem's second firehouse in the 1900s. With its timeless character and prime location, it offers the perfect blend of charm and functionality, making it an ideal choice for investors looking to capitalize on the growing demand for unique rental spaces and housing. Don’t miss out on this exceptional opportunity!
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,573 SF
Building Class
B
Year Built/Renovated
1900/2019
Price
$1,045,000
Price Per SF
$228.52
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.87
Lot Size
0.12 AC
Opportunity Zone
Yes
Zoning
CB - Also located within the Salem Downtown Overlay Zone and the Opportunity Zone
Frontage
63’ on State St
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (84)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 589328 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $206,800 |
PROPERTY TAXES
Parcel Number
589328
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$206,800
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246 State St
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