Listed by Coldwell Banker Commercial Mountain West Real Estate
$950,000
Historic Tiger Engine Co. No. 2 Fire House!
Details
Property Type Retail
Sub Type Storefront
Square Footage 4,573
Year Built 1900
Acreage 5318.000
Zoning CB
Retail | 4,573 SqFt
Marketing description
The Historic Tiger Engine Co. No. 2 Fire House!
Discover a unique owner-user opportunity or investment opportunity with tremendous rental upside. This gorgeous, remodeled historic 4,573 +/-sq. ft. building, constructed in the 1900s, features a perfectly suited street retail or office space on the ground floor and two separate apartments located on the 2nd floor (1 bed/1 bath & 2 bed/1 bath). Zoned CB and nestled within the Salem Downtown Historic District overlay zone, this property boasts a rich history as Salem's second firehouse in the 1900s. With its timeless character and prime location, it offers the perfect blend of charm and functionality, making it an ideal choice for investors looking to capitalize on the growing demand for unique rental spaces and housing. Don’t miss out on this exceptional opportunity!
This prime commercial property is nestled in the heart of Oregon’s vibrant capital, just across the street from Salem's Riverfront Park and Amphitheater. This dynamic location offers the perfect blend of professional accessibility and community charm, making it an ideal investment for your business aspirations. Situated in Salem's downtown district, this property benefits from foot traffic and excellent visibility. With easy access to major thoroughfares and public transportation, clients and customers alike will find it convenient to reach your establishment.
Surrounded by a diverse mix of shops and restaurants, this area fosters a lively atmosphere that encourages engagement and collaboration. Whether you're looking to establish a retail space, office, or service-oriented business, this provides a fantastic opportunity to thrive in a supportive community.
The property is designated as CB zoning and is strategically located within both the Salem Downtown Historic District Overlay Zone and the Opportunity Zone
Investment highlights
- Age: Over 50 Years Old
- Basement: None
- Lot Size: Under 1/2 Acre
- New roof in 2023
- Newer mini-splits in rental units
- Ground-floor tenant is on a month-to-month lease
- Ground-floor space is approximately 2,400 SF
- 10 onsite parking stalls located in the back of the building. Includes 1 motorcycle stall
- Excellent opportunity to take advantage of the City of Salem Toolbox Funds for desired improvements
- Vacation Rentals generated north of $27,00 NOI in 2024 | As of July 2025, approximately $12,300 NOI
- Furnishings are not included in the price. Can be negotiated separately
- Please do not disturb tenants
- Property tours are subject to an accepted offer
Listing Contacts
Listed by Coldwell Banker Commercial Mountain West Real Estate
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