3985 Rich Dr NE 3,125 SF 100% Leased Retail Building Salem, OR 97305 $855,000 ($273.60/SF) 7.01% Cap Rate

The property is a 3,125-square-foot freestanding retail building on 0.25 acres just off Lancaster Drive NE in the heart of Salem, Oregon's capital city. It is fully leased to two well-established tenants, Odd Moe's Pizza and Jackson Hewitt Tax Service, both of whom have operated at this location for over two decades, underscoring the site's proven performance and long-term tenant commitment. Offered as a turnkey investment at a 7% return, the asset features 17 striped parking spaces and a clean, low-maintenance profile that requires no immediate capital or leasing attention from a new owner.
Positioned along the high-traffic Lancaster Drive corridor — one of Salem's most active retail arterials — the property sits near the Willamette Town Center and major national retailers including Target, Dick's Sporting Goods, and Walgreens. Surrounded by dense residential neighborhoods, the location enjoys steady daily traffic and a deep, built-in customer base, making 3965 Rich Dr NE a rare, management-light opportunity to own a durable, income-producing retail asset with proven tenant longevity.