MU Redevelopment Opportunity in West Salem

740 Bassett St NW, Salem, OR 97304

  • For Sale $6,900,000
  • Property Type VacantLand
  • Property Size 85,180 SF
  • Lot Size 5.29 Acre
  • Date Updated Apr 25, 2024
With very few available commercial parcels of any size available in West Salem, the positioning of the former RainSweet location is an ideal asset for current industrial owners and redevelopers alike. Through the City of Salem's comp plan amendment, the property in question was rezoned to MU-III (Mixed Use 3). Housing needs in Salem are being prioritized by the City, and the MU-III zone is particularly favorable toward the development of retail and multifamily housing in the future. Warehousing and distribution are no longer permitted uses here, but some industrial uses are grandfathered in if the property is not otherwise improved. West Salem has some of the highest demographic indicators inside of the City, particularly those statistics related to income and education.Known as the former RainSweet site, the subject property is a rare opportunity to acquire close to 6 acres of mixed-use zoned land in West Salem for development. Recent comprehensive plan adjustments moved the zoning to MU-III (Mixed-Use III) which allows for a variety of retail, multi-family, office, and outpatient medical uses. The subject property has access from Bassett, 2nd St. NW, and Murlark. West Salem services a population estimated at more than 50,000. Retail goods, additional grocery (Safeway and Roth's currently), and housing are all needs.

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Attachments

Highlights

  • Rare development opportunity
  • West Salem Urban Renewal District
  • Strong demographics

Contacts

broker

Curt Arthur, SIOR

SVN | Commercial Advisors

(503) 588-4146

Location

Getting Around

  • Walk Score ®

    68/100 Somewhat Walkable

  • Transit Score ®

    46/100 Some Transit

  • Bike Score ®

    72/100 Very Bikeable
Powered by Walk Score ®
  • City Salem, OR
  • Neighborhood West Salem
  • Zip Code 97304
  • Market Eugene

Points of Interest

  • Salem Amtrak Station

    1.44 miles

  • Pacific Pride

    0.13 miles

  • Circle K

    0.14 miles

  • Chevron

    0.37 miles

  • Blink

    0.49 miles

  • Blink

    0.69 miles

  • Blink

    0.71 miles

  • Blink

    0.74 miles

  • Arco Gas Station

    0.91 miles

  • SemaConnect

    1.33 miles

  • SemaConnect

    1.35 miles

  • Riverfront Park (North Lot)

    0.47 miles

  • Riverfront Park (South Lot)

    0.55 miles

  • Chemeketa Parkade

    0.63 miles

  • Liberty Square Parkade

    0.70 miles

  • Marion Parkade

    0.77 miles

  • Salem Library Parkade

    0.87 miles

  • Reserved Lot A

    1.03 miles

  • Permit Parking

    1.06 miles

  • Green Lot - Dept of Admin Services

    1.10 miles

  • Visitor Parking

    1.15 miles

  • Grand Hotel

    0.71 miles

  • Howard Johnson by Wyndham Salem

    2.25 miles

  • Shilo Inn Hotel

    2.81 miles

  • Holiday Inn

    2.83 miles

  • Motel 6 Salem

    2.88 miles

  • Holiday Lodge Motel

    2.93 miles

  • DoubleTree

    2.94 miles

  • Capitol Inn & Suites

    3.08 miles

  • Mill Creek Inn

    3.13 miles

  • Hampton

    3.18 miles

  • Carl's Jr.

    0.09 miles

  • Jersey Mike's Subs

    0.09 miles

  • Hawaiian Time

    0.12 miles

  • Taco Bell

    0.12 miles

  • McDonald's

    0.16 miles

  • Jamba

    0.17 miles

  • Panda Express

    0.17 miles

  • La Hacienda Real

    0.18 miles

  • Subway

    0.19 miles

  • Pizza Hut

    0.19 miles

  • Walker Middle School

    0.43 miles

  • Art Department.

    0.62 miles

  • Academy of Hair Design

    0.63 miles

  • Saint Joseph Catholic School

    1.01 miles

  • Collins Legal Center

    1.04 miles

  • Atkinson Graduate School of Management

    1.06 miles

  • Willamette University

    1.24 miles

  • Myers Elementary School

    1.24 miles

  • Grant Community School

    1.26 miles

  • Parish Middle School

    1.34 miles

  • Wallace Learning Center

    0.21 miles

  • Little Friends Montessori School

    1.00 miles

  • East Salem Headstart (pre-school)

    3.91 miles

Frequently Asked Questions

What is the lease rate for MU Redevelopment Opportunity in West Salem?

Rental asking rate at MU Redevelopment Opportunity in West Salem is $3,450,000.00/YR.

What is the total square footage of MU Redevelopment Opportunity in West Salem?

MU Redevelopment Opportunity in West Salem totals 85,180 square feet.

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Contact Listing Broker

broker

Curt Arthur, SIOR

SVN | Commercial Advisors

(503) 588-4146