Map of Property

Cypress Center

For Sale

1420 Lancaster Dr NE, Salem, OR 97301

This Salem property for sale is located at 1420 Lancaster Dr NE. The current listed sale price for Cypress Center is $6,500,000. Cypress Center is situated on a lot that is 1.65 acre in size.

Contacts

Jennifer Martin

First Commercial Real Estate

Ruth Dana

First Commercial Real Estate

Property Details

  • Property Type Retail - Strip
  • Property Size 26,965 SF
  • Lot Size 1.65 Acre
  • Year Built 1986
  • Year Renovated 2019
  • Date Updated Apr 30, 2026

Two-building, retail strip center with seven tenants and one 4,200SF vacancy located across the street from Fred Meyer and less than ½ mile from the Market Street
Interchange on Interstate 5 now for sale for the first time in 20 years. The exterior of the building was completely remodeled in 2019 to include new landscaping, façade and pylon signage.

The current income of the property provides for a capitalization rate of 6.78% using the 2024 actual operating expenses and proforma income for the vacancy. Seller is willing to consider carrying the debt and/or guaranty the income for the vacant suite at closing for qualified purchase terms.

 

1410 LANCASTER DR NE TAX ACCOUNT: 576495 MAP TAX LOT #: 072W19CA06100 LOT SIZE: 1.65 ACRES 2024/25 TAXES: $69,099.88

 

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Getting around

  • 78/100

    Walk Score ®

  • 44/100

    Transit Score ®

  • 70/100

    Bike Score ®

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Location

  • City Salem, OR
  • Neighborhood East Lancaster
  • Zip Code 97301
  • Market Eugene

Points of Interest

  • Salem

    2.45 miles

  • Brooks Historical Society Depot

    7.27 miles

  • Hopmere Station

    7.35 miles

  • 76

    0.05 miles

  • Fred Meyer Fuel

    0.25 miles

  • Petrol Express

    0.42 miles

  • Pacific Pride

    0.49 miles

  • ChargePoint

    0.63 miles

  • Arco

    0.73 miles

  • Pulse

    0.78 miles

  • Shell

    0.92 miles

  • Electrify America

    1.26 miles

  • Chevron

    1.42 miles

  • Market Street Park and Ride

    0.56 miles

  • WalMart North Park and Ride

    1.26 miles

  • Grace Baptist Church Park and Ride

    1.31 miles

  • Christ the Good Shepherd Lutheran Church Park and Ride

    1.45 miles

  • State of Oregon Shuttle Mail Hub

    1.72 miles

  • Airport Road Park and Ride

    1.89 miles

  • Firehall Lot

    2.06 miles

  • Postal Employee Parking

    2.09 miles

  • Orange Lot

    2.09 miles

  • Red Lot

    2.11 miles

  • Best Teriyaki

    0.04 miles

  • Carl's Jr.

    0.08 miles

  • Olive Garden

    0.09 miles

  • Don Ped mexican

    0.09 miles

  • Hacienda de Villa

    0.16 miles

  • Elmer's

    0.20 miles

  • Fiesta Mexican Pizza

    0.23 miles

  • Aiberto's Taco Shop

    0.23 miles

  • McDonald's

    0.26 miles

  • La Tropicana

    0.26 miles

  • Fred Meyer

    0.17 miles

  • Burlington

    0.37 miles

  • TJ Maxx

    0.45 miles

  • Big Lots

    0.50 miles

  • Roth's Fresh Markets

    0.50 miles

  • Bi-Mart

    0.56 miles

  • La Tapatia

    0.62 miles

  • Target

    0.64 miles

  • Ross

    0.69 miles

  • Grocery Outlet

    1.10 miles

Contact Cypress Center
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