Your email has been sent.
501 Marion St NE 37,152 SF of Retail Space Available in Salem, OR 97301
Highlights
- Prime Downtown Salem Location
- Minutes from Oregon State Capitol & Riverfront Park
- Flexible Floor Plan for a Variety of Uses
- Exceptional Frontage and Visibility
- Excellent for Entertainment, Fitness, Retail, Events and Hospitality
- Parkade Parking with 1,400 Spaces
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 37,152 SF | Negotiable | $8.40 /SF/YR $0.70 /SF/MO $312,077 /YR $26,006 /MO | Triple Net (NNN) |
1st Floor
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.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Movie Theater
- 37,152 SF former theater.
- Seven auditoriums with flexible layout.
- Existing commercial kitchen infrastructure
- Existing bar and food service areas
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Property Facts
| Total Space Available | 37,152 SF | Gross Leasable Area | 37,152 SF |
| Property Type | Retail | Year Built | 1988 |
| Property Subtype | Movie Theater | Parking Ratio | 1.81/1,000 SF |
| Total Space Available | 37,152 SF |
| Property Type | Retail |
| Property Subtype | Movie Theater |
| Gross Leasable Area | 37,152 SF |
| Year Built | 1988 |
| Parking Ratio | 1.81/1,000 SF |
About the Property
Positioned in the heart of downtown Salem, this premier commercial opportunity offers up to 37,152 SF of highly visible space with exceptional frontage and direct access to the city's business, government, and entertainment districts. Located adjacent to Salem Center and just blocks from the Oregon State Capitol, Riverfront Park, and numerous downtown amenities, the property benefits from strong pedestrian activity, excellent accessibility, and a central location within Oregon's capital city. The flexible floor plan, expansive interior spaces, existing commercial infrastructure, and significant utility capacity create opportunities for a wide range of uses including entertainment, fitness, retail, office, educational, event, hospitality, medical, and experiential concepts. The property's prominent downtown presence and adaptable layout allow tenants to create a customized environment suited to their operational needs. Downtown Salem continues to experience new investment, redevelopment, and growing activity, making this a unique opportunity to establish a presence within one of the region's most dynamic commercial districts. Large contiguous spaces, strong visibility, and a strategic location combine to offer a rare leasing opportunity in the Mid-Willamette Valley.
Nearby Major Retailers
