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Downtown Salem Theatre 501 Marion St NE 37,152 SF Retail Building Salem, OR 97301 $3,950,000 ($106.32/SF)
Investment Highlights
- Rare downtown Salem redevelopment opportunity with high visibility and frontage
- Existing commercial kitchen and utility infrastructure ready for reuse.
- Convenient access to Highway 22 and I-5 for regional connectivity.
- Flexible layout with seven auditoriums, lobby areas, and bar in place.
- Situated steps from Oregon State Capitol and Salem Center retail core.
Executive Summary
Property Facts
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Formerly operated as a luxury dine-in movie theater, the property features existing auditorium space, lobby areas, kitchen infrastructure, and utility capacity suitable for a wide range of future commercial uses. Located in the heart of downtown Salem, just blocks from the Oregon State Capitol, Riverfront Park, and downtown amenities, the property presents a unique opportunity for investors, developers, and owner-users seeking a signature downtown asset with long-term upside. Consisting of 37,152 SF on its own parcel within the Salem Center district offering exceptional visibility, scale and infrastructure.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 37,152 SF | Retail | - | Now |
1st Floor
| Size |
| 37,152 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size | 37,152 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Formerly operated as a luxury dine-in movie theater, the property features existing auditorium space, lobby areas, kitchen infrastructure, and utility capacity suitable for a wide range of future commercial uses. Located in the heart of downtown Salem, just blocks from the Oregon State Capitol, Riverfront Park, and downtown amenities, the property presents a unique opportunity for investors, developers, and owner-users seeking a signature downtown asset with long-term upside. Consisting of 37,152 SF on its own parcel within the Salem Center district offering exceptional visibility, scale and infrastructure.
Nearby Major Retailers
Property Taxes
| Parcel Number | 589026 | Improvements Assessment | $2,436,620 |
| Land Assessment | $1,293,720 | Total Assessment | $3,730,340 |
Property Taxes
