5245-5251 Commercial St SE - Freestanding FOR SALE
Salem, OR 97306 |
5245-5251 Commercial St SE
Salem, OR 97306
HIGHLIGHTS
- Shadow-Anchored by Walmart – Directly across from Walmart (2.1+ million annual visits)
- Prime Grocery Corridor – Positioned along Salem’s dominant retail artery with Safeway, Trader Joe’s, and WinCo nearby
- Market Rents – In-place rents average ~$19/SF NNN, compared to corridor averages of $22–$24/SF
- Diverse Tenant Roster – Stable lineup of local service and food operators, each with 3% annual rent escalations
- Efficient Lease Structures – 100% NNN leases with limited landlord obligations and minimal operating exposure
- Lease-Up Upside – Final vacancy provides opportunity to capture immediate NOI growth and further stabilize the center through lease-up at market rents
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Commercial Street Retail Center
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
15670
STORIES
1
YEAR BUILT
1997
SPRINKLERS
-
PARKING SPACES
104
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
083W14BC00400,083W14BC00500
