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Cypress Center 1410-1440 Lancaster Dr NE 26,965 SF 66% Leased Retail Building Salem, OR 97301 $9,073,480 CAD ($336.49 CAD/SF) 7.30% Cap Rate

Mixed Use Properties Oregon Salem 1410-1440 Lancaster Dr NE, Salem, OR 97301

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INVESTMENT HIGHLIGHTS

  • NNN leased investment property
  • High profile Lancaster Drive location across the street from Fred Meyer
  • Seller willing to provide rent guarantee on vacant space
  • Potential seller-carry terms available

EXECUTIVE SUMMARY

Two-building, retail strip center with seven tenants and one 4,200SF vacancy located across the street from Fred Meyer and less than ½ mile from the Market Street Interchange on Interstate 5 now for sale for the first time in 20 years. The exterior of the building was completely remodeled in 2019 to include new landscaping, façade and pylon signage.
The current income of the property provides for a capitalization rate of 7.3% using the 2024 actual operating expenses and proforma income for the vacancy. Seller is willing to consider carrying the debt and/or guaranty the income for the vacant suite at closing for qualified purchase terms.

ATTACHMENTS

Cypress Center- Sale

PROPERTY FACTS

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
26,965 SF
Building Class
B
Year Built/Renovated
1986/2019
Price
$9,073,480 CAD
Price Per SF
$336.49 CAD
Cap Rate
7.30%
NOI
$662,529 CAD
Percent Leased
66%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.38
Lot Size
1.65 AC
Zoning
MU-III
Parking
110 Spaces (4.08 Spaces per 1,000 SF Leased)
Frontage
264’ on Lancaster Dr

AMENITIES

  • Bus Line
  • Pylon Sign
  • Signage

MAJOR TENANTS Click Here to Access

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • 5.11 Tactical
  • Retailer
  • -
  • $9.99
  • Lorem Ipsum
  • Jan 0000
  • Best Teriyaki
  • Accommodation and Food Services
  • 99,999 SF
  • $9.99
  • Lorem Ipsum
  • Jan 0000
  • Dip Nails
  • Services
  • 99,999 SF
  • $9.99
  • Lorem Ipsum
  • Jan 0000
  • Interstate Medical
  • -
  • 99,999 SF
  • $9.99
  • Lorem Ipsum
  • Jan 0000
  • Radar Toys
  • Retailer
  • 99,999 SF
  • $9.99
  • Lorem Ipsum
  • Jan 0000
  • Tan Republic
  • Services
  • 99,999 SF
  • $9.99
  • Lorem Ipsum
  • Jan 0000
TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
5.11 Tactical Retailer - $9.99 Lorem Ipsum Jan 0000
Best Teriyaki Accommodation and Food Services 99,999 SF $9.99 Lorem Ipsum Jan 0000
Dip Nails Services 99,999 SF $9.99 Lorem Ipsum Jan 0000
Interstate Medical - 99,999 SF $9.99 Lorem Ipsum Jan 0000
Radar Toys Retailer 99,999 SF $9.99 Lorem Ipsum Jan 0000
Tan Republic Services 99,999 SF $9.99 Lorem Ipsum Jan 0000

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • 1420
  • 4,200 SF
  • Retail
  • In-Line
  • Now
1410-1440 Lancaster Dr NE, Salem, OR for sale Building Photo- Image 1 of 1
Building Photo

NNN’s estimated at $4.75/SF annually TI’s available for qualified tenants and lease terms.

Space Size Space Use Position Available
1420 4,200 SF Retail In-Line Now

1420

Size
4,200 SF
Space Use
Retail
Position
In-Line
Available
Now
1 of 1
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW STREET
MAP
1410-1440 Lancaster Dr NE, Salem, OR for sale Building Photo- Image 1 of 1
Site Plans-2023

1420

1410-1440 Lancaster Dr NE, Salem, OR for sale Building Photo- Image 1 of 1
Building Photo
Size 4,200 SF
Space Use Retail
Position In-Line
Available Now

NNN’s estimated at $4.75/SF annually TI’s available for qualified tenants and lease terms.

1 1
1410-1440 Lancaster Dr NE, Salem, OR - AERIAL map view - Image1
1410-1440 Lancaster Dr NE, Salem, OR - AERIAL map view - Image2
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (70)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

NEARBY MAJOR RETAILERS

Fred Meyer
Olive Garden
Elmer's
Denny's
Rent-A-Center
Applebee's
Red Robin
TacoTime
Baja Fresh
Dutch Bros

PROPERTY TAXES

Parcel Number 576495 Improvements Assessment $3,629,867 CAD
Land Assessment $1,458,626 CAD Total Assessment $5,088,493 CAD

PROPERTY TAXES

Parcel Number
576495
Land Assessment
$1,458,626 CAD
Improvements Assessment
$3,629,867 CAD
Total Assessment
$5,088,493 CAD
(503) 851-9428

Still interested?

Contact the brokers for more information about this property

CONTACTS

  • Listing ID: 36701810

  • Date on Market: 2025-07-11

  • Last Updated:

  • Address: 1410-1440 Lancaster Dr NE, Salem, OR 97301

The East Lancaster Retail Property at 1410-1440 Lancaster Dr NE, Salem, OR 97301 is currently available. Contact First Commercial Real Estate for more information.

RETAIL PROPERTIES IN NEARBY NEIGHBORHOODS

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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW STREET
MAP
1410-1440 Lancaster Dr NE, Salem, OR for sale Primary Photo- Image 1 of 10
Primary Photo
1410-1440 Lancaster Dr NE, Salem, OR for sale Building Photo- Image 2 of 10
Building Photo
1410-1440 Lancaster Dr NE, Salem, OR for sale Building Photo- Image 3 of 10
Building Photo
1410-1440 Lancaster Dr NE, Salem, OR for sale Building Photo- Image 4 of 10
Building Photo
1410-1440 Lancaster Dr NE, Salem, OR for sale Building Photo- Image 5 of 10
Building Photo
1410-1440 Lancaster Dr NE, Salem, OR for sale Aerial- Image 6 of 10
Aerial
1410-1440 Lancaster Dr NE, Salem, OR for sale Building Photo- Image 7 of 10
Building Photo
1410-1440 Lancaster Dr NE, Salem, OR for sale Building Photo- Image 8 of 10
Building Photo
1410-1440 Lancaster Dr NE, Salem, OR for sale Aerial- Image 9 of 10
Aerial
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Cypress Center | 1410-1440 Lancaster Dr NE
(503) 851-9428 x

Cypress Center | 1410-1440 Lancaster Dr NE

Jennifer Martin
(503) 851-9428

Ruth Dana
(503) 364-7400 x2

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