3912 Commercial SE ST, Salem, OR 97302

Property Description

Do Not Disturb Tenant, Customers, or Employees. Appointment Required for All Viewings. Offered for the first time in 34 years, this 0.59 acre two parcel package presents a rare opportunity with existing rental income and future development potential. The property includes approximately 0.45 acres zoned Mixed Use III and approximately 0.15 acres zoned Residential Single Family. The existing tenant occupies the front portion of one parcel and has expressed interest in remaining. The rear portion of that parcel remains undeveloped, while the adjacent parcel includes a single family home. With approximately 70 feet of frontage on Commercial Street and an additional 65 feet of frontage on Oakhill Avenue, the property offers excellent visibility and access. Located among a strong mix of established local and national businesses including Starbucks, Napa Auto Parts, Windjammers, Panda Express, Chipotle, Bo and Vine, Wells Fargo Bank, The Shutterbug, Dairy Queen, and McDonalds. Mixed Use III zoning allows for a variety of permitted uses including multifamily apartments, short term lodging, eating and drinking establishments, office or laboratory space, fuel stations, day care, governmental services, and other similar uses. Buyer to complete their own due diligence regarding zoning, permitted uses, and development potential.