4656 Commercial St SE - Restaurant FOR SALE


Salem, OR 97302- Morningside
$3,200,000 USD
503-588-4146
4656 Commercial St SE, Salem, OR for Sale
$3,200,000 USD
Restaurant - FOR SALE
1/11
null | 6.5% Cap Rate

4656 Commercial St SE
Salem, OR 97302
Morningside


HIGHLIGHTS

  • Original tenants since 1994
  • Most roofs and HVAC systems have been updated
  • New owner upside

OVERVIEW

Fully leased by long-term tenants. The Original Pancake House in South Salem has been an iconic breakfast and lunch spot in Salem for over three decades. Originally started in Portland in 1953, this location was opened in 1994 and has had a waiting list for a table ever since. Original Pancake House now operates in 20 states throughout the US. In 1997, the owners of this location built two additional buildings, with six(6) suites on the back half of the property that have been occupied by the same tenants ever since. Anchored by a UPS Store, other uses include chiropractic, beauty salon, travel agency, insurance, and rare coins and metals.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$671 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

18

LAND DETAILS

LAND ACRES

1.33 AC

LAND SF

57,935 SF

ZONING

MU-III

APN/PARCEL ID

573930

ASK ABOUT THIS PROPERTY

Curt Arthur, SIORSVN | Commercial Advisors, LLCMore Info
503-588-4146

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Curt Arthur, SIORSVN | Commercial Advisors, LLCMore Info
503-588-4146

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