1230 State Events & Catering Center

1230 State St Salem, OR 97301

1230 State St, Salem, OR, 97301
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FOR SALE
Property Type:
Restaurant
Amount:
$1,900,000
Last Verified:
Oct 29, 2024

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Highlights

  • Full interior renovation completed in 2023
  • Close proximity to substantial employers
  • Buyer pool is growing with diminishing pressure on interest rates

Description

Introducing 1230 State St, a prime investment opportunity for retail and restaurant ventures. This historic 5,880 SF property, built in 1928 and fully renovated in 2023, presents a compelling combination of vintage charm and modern amenities. Zoned MU-I, it offers versatile potential in Salem's thriving area. With a single unit, this property provides an ideal canvas for a unique establishment. The full interior renovation offers a turnkey solution for savvy investors, while its proximity to significant employers ensures a growing buyer pool. With interest rates easing, now is the time to seize this exceptional commercial venture.

The subject property is a versatile 5,880-square-foot space, zoned MU-I, currently operating as a restaurant and event venue. Strategically located on State Street, it benefits from being within walking distance of three of the largest employers in the Salem MSA—Willamette University, Salem Health, and the Oregon State Capitol Mall. The surrounding area is home to well-established and thriving businesses in the hospitality sector, enhancing its appeal and long-term potential.


Year Built: 1928
Building Size: 5880sq ft
Lot Size: 0.16 acres


Documents

1230 State St Brochure

Map of 1230 State St, Salem, OR, 97301

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.