Salem's Historic Grand | 181-195 High St NE
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Salem's Historic Grand 181-195 High St NE
38,450 SF 86% Leased Retail Building Salem, OR 97301 $4,575,000 ($119/SF) 7.75% Cap Rate
Investment Highlights
- Salem's Historic Grand is a prime investment opportunity to own a multi-tenant mixed-use building in the heart of the Willamette Valley.
- Sited on 0.50 acres zoned Central Business District (CBD), this 38,450-square-foot building was built in 1900 and is in an opportunity zone.
- Located at the signaled intersection of High Street NE and Court Street NE, with exposure and visibility from 7,870 vehicles daily.
- Find nearby landmarks like the Marion County Court, Salem Hospital, and Oregon State Capitol, plus conveniences like Starbucks and Wells Fargo.
Executive Summary
Salem's Historic Grand at 181-195 High Street NE is a 38,450-square-foot, multi-tenant, mixed-use building with a vibrant tenant mix in the heart of the Willamette Valley. Constructed in 1900 with over $2.5 million invested in recent upgrades, the building features three floors of retail, office, theater, event, and conference spaces. Historically known as the Chemeketa Lodge No. 1, Odd Fellows Building, and now Salem's Historic Grand, this building has been a gathering space for over a century.
Within a Walker's Paradise, Salem's Historic Grand is ideal for meeting, shopping, working, and picking up lunch or coffee nearby. This complex makes for easy commuting around the greater Salem area as it is two blocks from the Interstate 5 and Highway 22 exits. Situated on the corner of High Street NE and Court Street NE, this property is the transition point between public and private business in Salem's downtown core. For a landmark property with incredible accessibility, look no further than Salem's Historic Grand.
Within a Walker's Paradise, Salem's Historic Grand is ideal for meeting, shopping, working, and picking up lunch or coffee nearby. This complex makes for easy commuting around the greater Salem area as it is two blocks from the Interstate 5 and Highway 22 exits. Situated on the corner of High Street NE and Court Street NE, this property is the transition point between public and private business in Salem's downtown core. For a landmark property with incredible accessibility, look no further than Salem's Historic Grand.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
38,450 SF
Building Class
B
Year Built
1900
Price
$4,575,000
Price Per SF
$119
Cap Rate
7.75%
NOI
$354,744
Percent Leased
86%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.67
Land Acres
0.53 AC
Opportunity Zone
Yes
Zoning
CBD - Central Business District
Parking
24 Spaces (0.62 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Bus Line
- Fireplace
- Property Manager on Site
- Restaurant
- Signage
- Signalized Intersection
- Skylights
- Accent Lighting
- Recessed Lighting
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Landlord offering 3 months rent abatement. First floor retail / office space available for immediate occupancy. Featuring historic beams and exposed brickwork, this location is ideal for professional services with desired street frontage.
- 202
- 300 SF
- Office
- -
- Now
With an exposed brick light hall, there is abundant natural light cascading into the 502 SF office suite.
Former salon space
| Space | Size | Space Use | Position | Available |
| Brick Room | 4,000 SF | Retail | - | Now |
| 202 | 300 SF | Office | - | Now |
| 204 | 502 SF | Office | - | Now |
| 211/212 | 629 SF | Office | - | Now |
Brick Room
| Size |
| 4,000 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
202
| Size |
| 300 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
204
| Size |
| 502 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
211/212
| Size |
| 629 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
1 of 3
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Brick Room
| Size | 4,000 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Landlord offering 3 months rent abatement. First floor retail / office space available for immediate occupancy. Featuring historic beams and exposed brickwork, this location is ideal for professional services with desired street frontage.
1 of 2
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
204
| Size | 502 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
With an exposed brick light hall, there is abundant natural light cascading into the 502 SF office suite.
211/212
| Size | 629 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
Former salon space
Walk Score ®
Very Walkable (89)
Bike Score ®
Very Bikeable (88)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,016,380 | |
| Land Assessment | $0 | Total Assessment | $2,016,380 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$2,016,380
Total Assessment
$2,016,380
-
Terry Hancock -
Kelsey Oran -
Hancock Real Estate
1 of 31
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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Salem's Historic Grand | 181-195 High St NE
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