- For Sale $500,000
- Property Type Other
- Lot Size 94,961 SF
- Date Updated Oct 21, 2026
Description
2.18 Acre Site | General Commercial Zone
Colliers is pleased to present ±2.18 acres (94,961 SF) of undeveloped, commercially zoned land on Lancaster Drive in Salem, Oregon. The parcel is directly adjacent to the Regal Santiam 11 theater and fronts Lancaster Drive, one of Salem's primary retail corridors, with traffic counts over 17,000 vehicles per day and quick access to Interstate 5. The asking price is $500,000, or $5.27 per SF.
The site is zoned CG (General Commercial), which allows a wide range of uses including retail and service, office, medical, hospitality, and mixed-use residential. The surrounding trade area is anchored by national retailers such as Home Depot, Walmart, WinCo Foods, Lowe's, and CarMax, with an established residential base to the south and west. Street frontage on Lancaster is approximately 400’.
The parcel is available on its own or together with the neighboring Regal Santiam 11 ground lease investment. The combined offering totals ±8.55 acres for $3,499,000, giving a buyer in-place income today and a large, contiguous commercial site for future redevelopment.
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