Consisting of five tax lots totaling approximately .53 acres, is ideally situated near I5 and boasts urban renewal incentives. With its advantageous location and IC zoning with Portland/Fairgrounds Overlay, this offering holds immense potential for development. Urban Renewal allows for a 1:1 match of applicable expenses (see link for details). Example: $600,000 is spent on applicable costs, Buyer can get up to $300,000 reimbursed. Buyer to confirm terms and stipulations with the city. Nearby, you'll find the Oregon State Capitol, Salem Convention Center, and Riverfront Park, providing prime access to government, business, and recreational facilities. The area also benefits from the North Gateway Grant Program, offering financial incentives for property improvements and business development. Enjoy a variety of dining options, local shops, and easy access to major transportation routes, including the I-5, just a short distance away.