West Salem Development Land

2001 Wallace Rd NW, Salem, OR 97304

Property Information

  • For Sale $1,975,000
  • Property Type VacantLand
  • Lot Size 9.12 Acre
  • Date Updated May 12, 2026

Description

This offering includes two prime parcels — 1.88 acres and 7.24 acres — zoned RM2 (Residential Medium Density) and located in West Salem, OR, directly adjacent to the newly completed section of Marine Drive. This property has about 7 acres of buildable land and has development potential for approximately 250 apartment units. With proximity to major transit corridors, expanding infrastructure, and a thriving local community, this property is well positioned for development in one of the most promising areas of Salem, Oregon. West Salem is a key growth area within the broader Salem metro region. The city has seen consistent population growth, and as residential demand continues to increase, there is a recognized need for additional housing in the area. The planned improvements to Marine Drive will enhance accessibility, further positioning West Salem as a desirable location for residential development.• ± 1.88 AC and ± 7.24 AC parcels • Zoned RM2 – Residential Medium Density • Approximately 250-unit multifamily development potential • Public utilities at the site along with some street improvements

Highlights

  • Close proximity to I-5, downtown Salem, and Salem Airport
  • Located in the Willamette Valley with steady regional expansion
  • Near major roads and transportation routes
  • Strong local housing demand driven by population growth

Contacts

Location

Located at 2001 Wallace Rd NW, Salem, OR 97304, this property is part of the West Salem neighborhood and Eugene market.

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