725 Shipping St NE NE, Salem, OR 97301
725 Shipping St NE NE, Salem, OR 97301
725 Shipping St NE NE, Salem, OR 97301
725 Shipping St NE NE, Salem, OR 97301
725 Shipping St NE NE, Salem, OR 97301
725 Shipping St NE NE, Salem, OR 97301
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Listed by BRANDON FAHLMAN • KITHKIN REAL ESTATE • 503-930-2786
$ 799,000
Est. payment | /mo

10,260 SqFt

Save
$ 799,000
Est. payment | /mo
Save

10,260 SqFt

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Square Footage 10,260 sqft

Price per Sqft $77

MLS Listing ID 825699

Year Built 1950

Annual Tax Amount $9,815

Lot Size 10,454 Sqft

Acres 0.24

Property Sub-Type Retail

Property Description

Prime 12-Unit Redevelopment Opportunity in the Heart of SalemUnlock the potential of this strategically located site at 725 Shipping St NE. Currently positioned for a high-density transition, this property offers a rare footprint for a 12-unit residential complex. With Salem's growing demand for urban housing, this concept maximizes the lot's efficiency while providing future tenants with unparalleled access to downtown and the I-5 corridor. Key Highlights:- Density & Scale: Optimized site layout for a 12-unit multi-family build.- Strategic Location: Blocks away from local transit, shopping, and major employment hubs.- Infrastructure Ready: Existing utility access simplifies the initial phases of site prep.Market Demand: Perfect for a mix of studios and one-bedroom units to target the local workforce.Mixed-Used (MU-II) zoning has opened up many possibilities for this property. The 5,170 square-foot second story houses a ballroom, restrooms, full bar, kitchen, and storage. The 5,090 square-foot main level contains a "lounge", full bar, offices, kitchen, dining area, restrooms, and meeting rooms. A fenced and graveled storage yard could be used for parking, outdoor dining, food trucks, or new construction. Building is currently leased on a month-to-month basis.Ideas for the existing building include a 12-unit apartment building (site plan has been approved), microbrewery or taphouse, coffee, event center, restaurant, bar, etc. The ballroom is still regularly being used, but the building will require significant improvements to utilize all areas. The Seller is open to a traditional sale and also is open to discussing creative partnerships or development ideas.

Location

State OR

County Marion

Area 20 Central Salem

Interior

Inclusions Personal Property

Exterior

Fence Yes

Roof Type Other (Refer to Remarks)

Building

Foundation Slab

Sewer City

Water City, Connected

New Construction No

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Willamette Valley MLS (WVMLS)

NEARBY SCHOOLS & PROPERTIES

Spencer And Mariah Crawford

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+1(503) 507-3666

spencer@vettruscrawfordrealty.com

2175 NW Raleigh St. Suite 110, Portland, OR 97210, United States

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725 Shipping St NE NE