390 Acres in City of Salem

Highlights

• 390-Acre Property
• Zoned IG, IC, RES, and MU-III
• In-Place Income of $18,077/Mo
• 80-Acre Park Planned with 1.25 Miles of Mill Creek Access
• Nature Trails and Recreational Opportunities
• Flexible Options, Joint Venture Partnership Opportunities
• 1.1 Miles from Interstate 5
• 1.9 Miles from Highway 22

Description

Prime Development Opportunity inside the City of Salem.

Discover a rare opportunity with this expansive 390-acre property, the largest of its kind within the City boundaries, now available for $25,000,000. The site is situated just 7 miles southeast of downtown Salem, and shows off with a unique blend of rural tranquility, impressive natural features, and suburban convenience. The property is neighbors to Turner Lake and Corban University with easy access to major amenities including an airport and big-box retail. One of the best features of the site is one that can't be seen - the residential areas at the southern end of the property are within the Cascade School District, a highly sought after district within the Willamette Valley.

Development Potential:

• Topography and Boundary Surveys, tree survey, and initial traffic study are completed
• Design/concept documents prepared by award winning master planners intended to guide project direction are completed
• Comprehensive Plan Amendment and Zone change applications are completed which applied a variety of designations in all categories to the site: industrial, commercial, mixed use and residential
• Tentative Subdivision Plan approval is completed. The subdivision is currently being platted into 5 separate tax lots
• Environmental, floodplain fill analysis, wetland concurrence, and Geotech reports are in progress

In-place income:

• Currently generates $18,077/month from existing buildings and farmland

Planned Features:

• Proposed 80-acre park planned with 1.25 miles of Mill Creek access, potentially eligible for SDC credits
• Nature trails offering recreational opportunities amidst natural beauty
• Topography offers peak and valley view vistas over the City of Salem and the City of Turner

Flexible Options:

• Ownership is open to offers on portions of the property
• Consideration of joint venture partnerships or build-to-suit opportunities

Vision:

• Ideal for developers envisioning complete community that can include employment, entertainment, shopping, medical, and housing needs which can be branded as one unique community where people will live, work, and play
• Proposed development includes residential, commercial, industrial and recreational spaces
• Emphasis on creating a dynamic hub with diverse housing options and natural amenities

Seize the chance to shape the future of this evolving rural-suburban area. Whether you're looking to invest in a premier development project or seeking a strategic partnership, this property promises unparalleled potential.

For more information and to discuss possibilities, contact us today.

Located south off Kuebler Blvd on Turner Road in SE Salem.

Documents