First Commercial Real Estate

JUST LISTED

OVERVIEW
We are pleased to present 2425 25th Street SE, a 15,000-square-foot multi-tenant retail/flex building on a highly visible 1.25-acre corner lot at the signalized intersection of 25th Street SE and McGilchrist Street SE in Salem, Oregon, just minutes from the Salem Municipal Airport and I-5. Located within a designated Qualified Opportunity Zone, the property offers buyers significant federal tax advantages, including capital gains deferral and reduction for long-term holds. Its versatile flex-shell construction can be easily adapted for light industrial, showroom, or retail/entertainment uses, appealing to a broad tenant pool. The building is currently demised for two interior tenants—a brewery and a restaurant/arcade—with high-value infrastructure including commercial kitchens, roll-up doors, and heavy power, plus a dedicated food truck pad. Together, these features make 2425 25th Street SE a rare opportunity to acquire a strategically located, income-producing asset with meaningful tax benefits and long-term flexibility.

SALES PRICE: $2,795,000
TOTAL BUILDING SIZE: 15,000 SF
TOTAL LOT SIZE: 1.25 AC
ZONING: IC

Have questions? Click here to learn more.

FEATURED LISTING

OVERVIEW
A 3.52-acre General Industrial (IG) zoned site has come available at the first signalized intersection east of the I-5/Kuebler Boulevard interchange, one of Southeast Salem's highest-visibility industrial corridors.

The property features roughly 16,056 SF of existing warehouse and storage buildings, complemented by a secured ≈32,000 SF fenced yard with paved tractor-trailer access — well suited for outdoor storage, staging, or equipment parking. Utilities are already in place, including electric service, well water, and septic.

IG zoning supports a wide range of uses: warehousing, manufacturing, construction contracting, wholesale trade, transportation and logistics, and R&D. With flat, buildable acreage and room to expand, the site offers strong appeal to owner-users, investors, and developers looking for flexible industrial space with meaningful redevelopment potential.

SALES PRICE: $2,400,000
TOTAL BUILDING SIZE: 16,06 SF
TOTAL LOT SIZE: 3.52 AC
ZONING: IG

Have questions? Click here to learn more.

FEATURED CLOSING

First Commercial Real Estate is pleased to announce the closing of 415 & 475 Cottage Street NE in Salem, Oregon, more commonly known as the Center Point building. The 23,202 SF downtown office building sold for $3,800,000, with Jennifer Martin, CCIM, and Tanner Morgan representing the seller throughout the process. Center Point is a well-established two-story professional office building situated in Salem's CBD, and home to a mix of tenants. The buyer is an owner-user who will occupy the entire second floor and plans to lease up the remaining vacancy on the ground floor, rounding out what will be a fully occupied building. We look forward to seeing this downtown staple continue to thrive under new ownership.

DEAL STORY

Charming office. Real parking. Move-in ready.
830 Saginaw St S
$525,000 | 1,682 SF | .17 ac

Built in 1910, remodeled in 2010 — classic character outside, clean and functional inside.

• Main level: reception, private office, kitchen, 4 treatment rooms (2 with sinks), 2 restrooms

• Upstairs: 2 more private offices + flexible workspace

• 10 on-site parking spaces + nearby street parking

• Perfect for medical or professional users looking to own

COMMUNITY SPOTLIGHT

UNCORKED REVELRY
Friday, May 29, 2026
5:00PM-Sunset at Bryn Mawr Vineyards
Cocktail attire encouraged | 21+

UNCORKED LIVE
Saturday, May 30, 20256
5:00PM-10:00PM at Bryn Mawr Vineyards
Black tie attire encouraged | 21+

The Mid-Valley's premier auction benefiting Family Building Blocks,
taking place at beautiful Bryn Mawr Vineyards.

Kicking off Friday evening, Revelry features Oregon chefs, wineries,
breweries, handcrafted cocktails, a silent auction, games, and more.

Uncorked Live: Culminating Saturday evening, Uncorked Live boasts a luxurious three-course dinner and live auction offering exclusive experience packages.

Sponsor the event, purchase tickets, and join us for these exciting evenings! 
Tickets are non-refundable and event takes place rain or shine.