For Sale

Lancaster Marketplace

1120-1264 Lancaster Dr SE, Salem, OR 97317

$14,000,000

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Cap Berri, CPM®, RPA®, CCIM

VP, Director of Brokerage, Senior Asset Manager, NAI Coordinator, Principal Broker

503 972 7187

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Lou Elliott

Principal, Chief Executive Officer, Broker

503 972 7212

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Investment Offering - 7.48% CAP rate; 97.35% Occupancy

Lancaster Marketplace is a shopping center consisting of a Sportsmans Warehouse, Dollar Tree, Boy's and Girls Club along with retail shops on a single site in Salem Oregon. This center is co-anchored by Shopko and WinCo Foods (neither of which is included in the sale).

Highlights Include:

  • Long Term leases with strong tenants
  • Excellent access to freeway system and nearby employment center
  • Well situated near residential neighborhoods
  • Located within a seasoned, fully developed regional commercial center
  • Strong demographics
  • Vacant and shell spaces represent upside growth
  • Excellent visibility to Highway 22 and Lancaster Drive
  • Two Pylon directory signs on property and highly visible sign band
  • Professionally managed by NAI Elliott

Full offering package available by signing confidentiality agreement

Asking Price

$14,000,000

Cap Rate

7.11%

Location

Salem

Property Type

Retail - Power Center

County

Marion

Construction Status

Existing

Gross Leasable Area (GLA)

119,137 SF

Total Lot Size

8.17 AC

Occupancy

97.35%

Year Built

1991 (renovated in 2004)

Parking Ratio

3 spaces per 1,000 sf of GLA

Side view of Lancaster Marketplace in Salem, Oregon. An anchored retail center.
The parking lot and view of Sportsman's Warehouse in Salem, Oregon's most popular anchored retail center.
The Lancaster Marketplace is for sale in Salem, Oregon. A low vacancy, high traffic retail center.
A side view of the Lancaster Marketplace, an anchored retail center in Salem.
Low vacancy retail shopping center with ample parking.

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© 2020 NAI Elliott - All Rights Reserved

© 2020 NAI Elliott - All Rights Reserved

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