370 Veall LN NW Salem, OR $ 1,100,000
370 Veall LN NW
$ 1,100,000
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370 Veall LN NW

Salem, OR, 97304
$ 1,100,000
Bedrooms-- Baths-- Sq 7,350

Monthly Estimate*

$ 6,588

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Commercial Property for sale in Salem, OR

for $1,100,000. This 7,350 square foot building was built in 1916 on a lot size of 1.25.

Prime redevelopment opportunity in West Salem! Potential for a variety of uses, including multi-family housing, apartments, office space, retail shops, cafes & restaurants. Five contiguous parcels totaling around 1.25 acres (including the current alley). Located within the West Salem Central Business is already zoned for commercial & mixed-use developments. Existing structures (residential homes, a pole building & a mini storage business) could either be leveraged in the redevelopment plans or potentially cleared for a fresh start. Current rents being below market value indicates a potential for increased revenue.

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Commercial Active

Price

$ 1,100,000

Property Type

Commercial

Taxes

$ 7,682

Style

Lot Size

1.25

Year Built

1916

Town/City

Salem

County/Region

Polk

MLS | Web ID

23136436

Features
General
Sewer PublicSewer
Heating Other
Zoning IP
HOA Fee 0
Year Built 1916
Sale Includes Building Land Other
Property SubType Other
Tax Year 2022
Current Use Other Warehouse
Gross Income 41520.0
County Polk
Operating Expense 12191.0
Property Type CommercialSale
HOA 0
Status Active
Directions Off Bartell
City Salem
MLS Area _168
Lot Size Square Feet 54450.0
Terms Cash Conventional
Tax Annual Amount 7682.0
Property Condition Existing
Lease Type MonthToMonth
Standard Status Active
Legal Description WSCB
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Exterior
Water Source PublicWater
Number of Buildings 4
Building Area Total 7350.0
Lot Size Acres 1.25
Road Surface Type Paved
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Internal Only
Street Number 1 370
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* Excluded Features
List By
Real Broker

Broker

christinefolzre@gmail.com

Email

Affordability Calculator

$7,228
Per Month
91%
9%
0%
Monthly Principal & Interest
$6,588
Monthly Property Taxes
$640
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 5.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
1949264 Elementary School
1949174 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
9/10/2024$1,100,000 Listed Price

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370 Veall LN NW, Salem, OR, 97304 is a Commercial Property for sale at $1,100,000 with 7,350 sqft and a lot size of 1.25. 370 Veall LN NW was built in 1916. The property's zip code is 97304 which is in Salem, OR