JUST LISTED

PROPERTY OVERVIEW:
This 23,218 SF street level space is available for lease now with occupancy beginning March 2026.  The building sits on a 2 acre site and features a clear-span layout, full loading dock and ample truck turnaround space, making it highly functional for a wide range of commercial uses.  Zoned Central Business District (CBD), the property offers the flexibility to house retail, grocery, entertainment, fitness or other community-serving concepts.  The building is currently occupied by Grocery Outlet who will be vacating on 02.28.2026, opening the door for a new business to take root at this prominent and highly accessible property within Salem’s Downtown Riverfront Urban Renewal area.

SPACE AVAILABLE: 23,218 SF
LEASE RATE: $.95/SF/MO, NNN
NNN ESTIMATE: $11.40/SF ANNUALLY
ZONING: CBD

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FEATURED LISTING

PROPERTY OVERVIEW:
This historic home converted to medical office features a large front porch, unique interior moldings, and fireplace. The main floor features four private office spaces, two bathrooms and large common space. The second floor features a conference room, break room and possible additional office. The large basement is suitable for storage.
The building is fully ADA accessible. The property is beautifully landscaped. The prior tenant was a Midwives Nursing Clinic. Central location with great visibility that includes 12 on-site parking stalls. 2024 improvements include: new interior and exterior paint, new roof and refinished hardwood floors.

Possible seller financing available.

SALES PRICE: $575,000
SPACE AVAILABLE: 2,367 SF + 1,244 SF BASEMENT
LEASE RATE: $1.75/SF/YMO, NNN
NNN ESTIMATE: $4.20/SF ANNUALLY
ZONING: MU-I

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RECENT CLOSING

FCRE’s Ruth Dana is pleased to announce the successful sale of a fully leased investment property at 2943 Silverton Road NE in Salem, Oregon.

Situated on 1.56 acres with MU-III zoning, the property is home to two established tenants. As part of the transaction, Ruth worked closely with an
in-place tenant to secure a lease renewal, strengthening the property’s long-term income stream and ensuring a smooth transfer for the buyer.

This acquisition highlights continued investor interest in well-positioned Salem assets, and FCRE is proud to help connect local investors with strong, income-producing properties.

MARKET INSIGHT

FCRE’s Josh Kay and Jordan Truitt represented the Marion County Housing Authority in the acquisition of the Spruce Terrace Apartments in Mt. Angel, Oregon.

This 34-unit LIHTC Section 42 community — originally developed by St. Vincent de Paul — is now preserved as affordable housing thanks to a collaborative effort with a debt partner and Oregon Housing and Community Services (OHCS).

Key Details:

• Location: 840 N. Perishing Street, Mt. Angel, OR

• Units: 30 at 50% AMI | 4 at 40% AMI

• Built: 2001 | 18 buildings on 2.92 acres

• Style: Flats & townhouse layouts w/ Community Building

This acquisition represents a critical preservation of affordable housing stock and strengthens the community’s long-term housing security! 

COMMUNITY SPOTLIGHT