1410 Lancaster Dr NE, Salem, OR 97301

Offered for sale for the first time in over 20 years, this two-building retail strip center presents a rare opportunity to acquire a well-located neighborhood retail asset with immediate income and meaningful upside potential. The property is currently occupied by seven tenants with one remaining 4,200 SF vacancy, allowing an investor to capture additional value through lease-up.

Positioned directly across from Fred Meyer and less than one-half mile from the Market Street Interchange at Interstate 5, the center benefits from excellent visibility, accessibility, and established retail traffic.

The property underwent a comprehensive exterior renovation in 2019, including updated landscaping, refreshed façades, and new pylon signage, enhancing curb appeal and long-term

positioning in the market.

Current operations generate an attractive in-place capitalization rate of 6.9%. Upon leasing the remaining 4,200 SF vacancy at market rental rates, the property is projected to achieve a

capitalization rate of over 8.5%, providing a compelling value-add opportunity with limited remaining vacancy exposure.