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Wallace Rd NW - 9.12 Acres Wallace Rd. NW 9.12 Acres of Commercial Land Offered at $2,896,534 CAD in Salem, OR 97304
INVESTMENT HIGHLIGHTS
- Close proximity to I-5, downtown Salem, and Salem Airport
- Strong local housing demand driven by population growth
- Near major roads and transportation routes
- Located in the Willamette Valley with steady regional expansion
PROPERTY FACTS Under Contract
| Price | $2,896,534 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 9.12 AC |
| Property Type | Land | ||
| Zoning | RM2 - Residential Medium Density | ||
| Price | $2,896,534 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 9.12 AC |
| Zoning | RM2 - Residential Medium Density |
1 LOT AVAILABLE
Lot 2
| Price | $2,896,534 CAD | Lot Size | 9.12 AC |
| Price Per AC | $317,602.42 CAD |
| Price | $2,896,534 CAD |
| Price Per AC | $317,602.42 CAD |
| Lot Size | 9.12 AC |
WEST SALEM DEV. LAND • ± 1.88 AC and ± 7.24 AC parcels • Zoned RM2 – Residential Medium Density • Approximately 150-unit multifamily development potential • Public utilities at the site along with some street improvements
DESCRIPTION
This offering presents a prime 1.88 and 7.24-acre parcel of Residential Medium Density (RM2) zoned land located in the rapidly growing West Salem neighborhood, directly adjacent to the highly anticipated Marine Drive corridor. With proximity to major transportation routes, expanding infrastructure, and a thriving local community, this site offers significant potential for multifamily development in one of the most promising areas of Salem, Oregon. West Salem is a key growth area within the broader Salem metro region. The city has seen consistent population growth, and as residential demand continues to increase, there is a recognized need for additional housing in the area. The planned improvements to Marine Drive will enhance accessibility, further positioning West Salem as a desirable location for residential development.
Presented by
Wallace Rd NW - 9.12 Acres Wallace Rd. NW
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