246 State St - Storefront Retail/Residential FOR SALE


Salem, OR 97301- Downtown Salem
$1,045,000 USD
503-884-6281
246 State St, Salem, OR for Sale
$1,045,000 USD
Storefront Retail/Residential - FOR SALE
1/18
null | Request Cap Rate

NEW


246 State St
Salem, OR 97301
Downtown Salem


HIGHLIGHTS

  • New roof in 2023
  • Remodeled in 2019
  • Ground-floor non-profit tenant is on a month-to-month lease
  • Across from the Salem Riverfront Park and Amphitheater
  • Vacation Rentals generated north of $27,00 NOI in 2024 | As of July 2025, approximately $12,300 NOI
  • Property tours are subject to an accepted offer

OVERVIEW

The Historic Tiger Engine Co. No. 2 Fire House! Discover a unique owner-user opportunity or investment opportunity with tremendous rental upside. This gorgeous, remodeled historic 4,573 +/-sq. ft. building, constructed in the 1900s, features a perfectly suited street retail or office space on the ground floor and two separate vacation rental units located on the 2nd floor (1 bed/1 bath & 2 bed/1 bath). Zoned CB and nestled within the Salem Downtown Historic District overlay zone, this property boasts a rich history as Salem's second firehouse in the 1900s. With its timeless character and prime location, it offers the perfect blend of charm and functionality, making it an ideal choice for investors looking to capitalize on the growing demand for unique rental spaces and housing. Don’t miss out on this exceptional opportunity!

FOR SALE DETAILS

PRICE

$1,045,000 USD

PRICE/SF

$229 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

CB

APN/PARCEL ID

589328

ASK ABOUT THIS PROPERTY

Shadya JonesColdwell Banker Commercial Mountain WestMore Info
503-884-6281

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Shadya JonesColdwell Banker Commercial Mountain WestMore Info
503-884-6281

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.