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246 State St 4,573 SF 100% Leased Retail Building Salem, OR 97301 $1,458,736 CAD ($318.99 CAD/SF)
INVESTMENT HIGHLIGHTS
- New roof in 2023
- Ground-floor non-profit tenant is on a month-to-month lease
- Vacation Rentals generated north of $27,00 NOI in 2024 | As of July 2025, approximately $12,300 NOI
- Remodeled in 2019
- Across from the Salem Riverfront Park and Amphitheater
- Property tours are subject to an accepted offer
EXECUTIVE SUMMARY
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 vacation rental units 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!
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 vacation rental units 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!
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,573 SF
Building Class
B
Year Built/Renovated
1900/2019
Price
$1,458,736 CAD
Price Per SF
$318.99 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.87
Lot Size
0.12 AC
Opportunity Zone
Yes
Zoning
CB - Also located in the Historic Preservation Overlay Zone
Frontage
63’ on State St
AMENITIES
- Corner Lot
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (84)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 589328 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $290,298 CAD |
PROPERTY TAXES
Parcel Number
589328
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$290,298 CAD
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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246 State St
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