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3705 Cherry Ave NE 2,326 SF 100% Leased Retail Building Salem, OR 97303 $550,000 ($236.46/SF)
INVESTMENT HIGHLIGHTS
- Oversized lot for infill development
- Great location near shopping and services at south end of Keizer
- One unit vacant providing flexibility for new owner’s plans
- No seller financing
EXECUTIVE SUMMARY
This .44-acre duplex site in Keizer, Oregon presents a strong infill development opportunity with income in place. The property is zoned Mixed-Use, allowing for a wide range of permitted and special uses, including middle housing and cottage cluster development, subject to city approval. The larger lot size and flexible zoning support increased density and long-term redevelopment potential.
The existing duplex provides interim cash flow while future plans are evaluated. The unit mix includes a 1,442 SF, 4-bedroom / 1.5-bath unit and a 480 SF studio unit, making the site well suited for investors or developers seeking near-term income with clear upside through redevelopment.
The existing duplex provides interim cash flow while future plans are evaluated. The unit mix includes a 1,442 SF, 4-bedroom / 1.5-bath unit and a 480 SF studio unit, making the site well suited for investors or developers seeking near-term income with clear upside through redevelopment.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,326 SF
Building Class
C
Year Built
1949
Price
$550,000
Price Per SF
$236.46
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.12
Lot Size
0.44 AC
Zoning
Mixed-Use
Parking
4 Spaces (1.72 Spaces per 1,000 SF Leased)
Frontage
118’ on Cherry Ave
Bike Score®
Very Bikeable (76)
NEARBY MAJOR RETAILERS
1 of 8
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3705 Cherry Ave NE
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