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

Jake Holman

Norris & Stevens

Location

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

Contact Listing Broker
Jake Holman

Norris & Stevens

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