- FCRE Market Insights
- Posts
- First Commercial Real Estate
First Commercial Real Estate
First Commercial
February 21, 2025
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.
AVAILABILITY: 2,367 SF + 1,224 SF basement storage
LEASE RATE: $1.70/SF/MO NNN
ZONE: MU-1
Have questions? Click here to learn more.
RECENT CLOSING
Jennifer Martin and Tanner Morgan are pleased to announce the sale of the medical office building commonly known as Parkside to Clear Choice Dermatology, who has relocated the practice into the building. Jennifer and Tanner represented the sellers in this transaction. The 10,018 SF building sold for $4,700,000 and the buyer is using just over 6,000SF for his practice. While the building was only listed originally for lease, Tanner and Jennifer knew the sellers had a plan to sell the building once full. Through utilizing their network in the community, they were able to work with another local broker who was looking for a new home for his client, and we were able to accelerate the seller’s goals through one transaction instead of two.
SIZE: 10,018 SF
SOLD: $4,700,000
ZONE: COMMERCIAL GENERAL
RESTAURANT LISTINGS
DRIVE THRU1253 23RD ST SE, SALEMFree standing drive-thru restaurant space for lease at Mission Street Crossing. Large kitchen area with restaurant infrastructure in place including a Nak ventless hood system with deep fryers. Ample seating area. This center provides excellent signage and visibility with traffic counts in excess of 45,000 cars per day. Excellent parking and easy access.
| SHOPPING CENTER1126 LANCASTER DR SE, SALEMLancaster Marketplace, anchored by Coastal Farm & Ranch, Winco, and Sportsman’s Warehouse, has a 3,536 SF restaurant space available for lease located near the corner of the center in the pad building. Lancaster Marketplace is located at the high traffic intersection of Lancaster Drive and Highway 22, with easy access to I-5, both north and southbound.
|
MARKET INSIGHT
What all of this means to our area is that it is unlikely you will see new construction of larger format retail stores due to the amount of existing inventory that can be delivered to users at a lower price than that of new construction. Also, it will likely take 3-5 years to absorb that inventory based on the number of larger retail deals we see each year. Finally, don’t be surprised if some of these spaces are backfilled with a use that is not traditionally retail in nature.
FAMILY BUILDING BLOCKS
WEDNESDAY, MARCH 12, 2025
SALEM CONVENTION CENTER
RESERVE A SEAT
To learn more, reserve a seat, or host a table,
contact Claudia Vorse at
[email protected] or 503.566.2132.
SPONSOR THE EVENT
To learn more, contact Julie Duran at [email protected] or 503.566.2132.
BECOME A STEPPING STONE SUSTAINER TO HELP CHILDREN
"EVERY STEP OF THE WAY"
To continue ensuring as many children and families as possible receive the support they need, Family Building Blocks highlights the importance of monthly giving and what it means to be a Stepping Stone Sustainer.
The Sustainers Happy Hour welcomes over 600 community members to the Salem Convention Center to celebrate the power of prevention.
Dedicated to helping children and families in Marion and Polk counties, our guests gather for happy hour with wine and appetizers followed by an inspiring program featuring stories about local families. Please join us in the future for one of our favorite annual events!
Was this email forwarded to you?
Click below to subscribe.