MU Redevelopment Opportunity in West Salem

For Sale

740 Bassett St NW, Salem, OR 97304

This Salem property for sale is located at 740 Bassett St NW. The current listed sale price for MU Redevelopment Opportunity in West Salem is $6,900,000. MU Redevelopment Opportunity in West Salem is situated on a lot that is 5.29 acre in size.

Contacts

broker

Curt Arthur, SIOR

SVN | Commercial Advisors

(503) 588-4146

Property Details

  • Property Type VacantLand
  • Property Size 85,180 SF
  • Lot Size 5.29 Acre
  • Date Updated Apr 24, 2024
With very few available commercial parcels of any size available in West Salem, the positioning of the former RainSweet location is an ideal asset for current industrial owners and redevelopers alike. Through the City of Salem's comp plan amendment, the property in question was rezoned to MU-III (Mixed Use 3). Housing needs in Salem are being prioritized by the City, and the MU-III zone is particularly favorable toward the development of retail and multifamily housing in the future. Warehousing and distribution are no longer permitted uses here, but some industrial uses are grandfathered in if the property is not otherwise improved. West Salem has some of the highest demographic indicators inside of the City, particularly those statistics related to income and education.Known as the former RainSweet site, the subject property is a rare opportunity to acquire close to 6 acres of mixed-use zoned land in West Salem for development. Recent comprehensive plan adjustments moved the zoning to MU-III (Mixed-Use III) which allows for a variety of retail, multi-family, office, and outpatient medical uses. The subject property has access from Bassett, 2nd St. NW, and Murlark. West Salem services a population estimated at more than 50,000. Retail goods, additional grocery (Safeway and Roth's currently), and housing are all needs.

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Highlights

  • Rare development opportunity
  • West Salem Urban Renewal District
  • Strong demographics

Attachments

Getting around

  • 68/100

    Walk Score ®

  • 46/100

    Transit Score ®

  • 72/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Salem, OR
  • Neighborhood West Salem
  • Zip Code 97304
  • Market Eugene

Points of Interest

  • Salem Amtrak Station

    1.44 miles

  • Pacific Pride

    0.13 miles

  • Circle K

    0.14 miles

  • Chevron

    0.37 miles

  • Blink

    0.49 miles

  • Blink

    0.69 miles

  • Blink

    0.71 miles

  • Blink

    0.74 miles

  • Arco Gas Station

    0.91 miles

  • SemaConnect

    1.33 miles

  • SemaConnect

    1.35 miles

  • Riverfront Park (North Lot)

    0.47 miles

  • Riverfront Park (South Lot)

    0.55 miles

  • Chemeketa Parkade

    0.63 miles

  • Liberty Square Parkade

    0.70 miles

  • Marion Parkade

    0.77 miles

  • Salem Library Parkade

    0.87 miles

  • Reserved Lot A

    1.03 miles

  • Permit Parking

    1.06 miles

  • Green Lot - Dept of Admin Services

    1.10 miles

  • Visitor Parking

    1.15 miles

  • Grand Hotel

    0.71 miles

  • Howard Johnson by Wyndham Salem

    2.25 miles

  • Shilo Inn Hotel

    2.81 miles

  • Holiday Inn

    2.83 miles

  • Motel 6 Salem

    2.88 miles

  • Holiday Lodge Motel

    2.93 miles

  • DoubleTree

    2.94 miles

  • Capitol Inn & Suites

    3.08 miles

  • Mill Creek Inn

    3.13 miles

  • Hampton

    3.18 miles

  • Roth's West Salem

    0.39 miles

  • JCPenney

    0.67 miles

  • TJ Maxx

    0.68 miles

  • Safeway

    0.71 miles

  • Ross

    0.72 miles

  • Salem Center Mall

    0.74 miles

  • Kohl's

    0.78 miles

  • Grocery Outlet

    0.78 miles

  • Macy's

    0.83 miles

  • Safeway

    1.35 miles

In-Depth Research Available for this Property

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Contact Listing Broker

broker

Curt Arthur, SIOR

SVN | Commercial Advisors

(503) 588-4146