4656 Commercial Street SE
$3,200,000
4656 Commercial Street SE, Salem, OR 97302
6.5
Cap Rate
207,863.2
NOI
Details:
Highlights:
- Fully Leased Investment
- Seven-tenant retail/office complex
- All tenants have been original since 1997
- Most roofs and HVAC systems have been updated
- New owner upside
Description:
Fully leased investment - The Original Pancake House in South Salem has been an iconic breakfast and lunch spot in Salem for over three decades. Originally started in Portland in 1953, this location was opened in 1994 and has had a waiting list for a table ever since. Original Pancake House now operates in 20 states throughout the US. In 1997, the owners of this location built two additional buildings, with six(6) suites on the back half of the property that have been occupied by the same tenants ever since. Anchored by a UPS Store, other uses include chiropractic, beauty salon, travel agency, insurance, and rare coins and metals.
Situated on one of the most visible, high-traffic locations in the Mid-Valley. Neighboring retailers include Trader Joe's, WINCO Foods, Petco, Key Bank, Ulta, Goodwill, and Carl's Jr. Estimated traffic count of approximately 40,000 cars per day (last count was in 2013).
Documents:
| Title | ||
|---|---|---|
| 4656_Commercial_St_SE_Brochure_10-21-25.pdf |
Location
Gallery
