Southgate Shopping Center

$9,250,000

3800-3995 Commercial St SE Salem, OR 97302

About this listing

Located in a busy retail area of SE Commercial St in Salem, OR. This retail complex draws people in from all over Salem with it's popular food, beverage and entertainment tenants. The south side of the property borders Browning Avenue, which is a lit intersection, providing an easy way to access SE Commercial St heading north or south.

Southgate Shopping Center is home to national restaurant chains, Panda Express and Chipotle, and some local favorites, like Donatello's Pizza, Ollies Games and On Any Sundae. This busy retail complex is a great investment or owner/use opportunity. Currently, there is a 17,280 SF (approx.) vacant space, perfect for a retail owner/user, available for lease.
This South Salem property is constantly flowing with patrons and has incredible upside potential! There is the opportunity for an investor to develop the property, which has 1.36 AC of vacant land behind the main building which was rezoned to Mixed-Use III (MU-III).
There are six (6) parcels for sale in this listing. Currently there is a shared parking and access agreement with neighboring owners.
Tenant/Buyer to be responsible for verifying occupancy with City of Salem




OFFERING SUMMARY:
Building Size: approx. 47,735 SF Available SF: 17,280 SF Lot Size: 6.81 Acres Price / Building SF: $193.78 Year Built: 1982 (initially) Zoning: MU-III (Mixed-Use III)

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  • Building Size

    47,735 sqft

  • Lot Area

    6.81 acres

  • Year Built

    1982

  • Zoning

    MU-III

  • MLS ID

    801832

DESCRIPTION

  • • Annual Tax: $ 103165.57

Map

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