Former Nordstrom

420 Center St NE, Salem, OR

Contacts for this property:

High Profile Anchor Location in Salem Center Mall

The Offering provides an opportunity to acquire a recently vacant anchor property at the Salem Center Mall. The approximate 72,000 square foot building is a two-story former Nordstrom with limited use restrictions. The high-profile hard-corner location in Downtown Salem offers a wide variety of future opportunities to take advantage of an employment base led by over 40,000 government employees.
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Cap Rate-
Leasable Sq Ft72,000 SF
Land Area1.65 AC
Price Per SQ Ft-
Lease Type
Year Built1979

Investment highlights

- High profile downtown location in Oregon's capital and second largest city.
- Zero restrictions or approvals needed for any use allowable in the city zoning.
- Located adjacent to Salem's most affluent neighborhood.
- A majority of Salem's 41,600 government employees are located within walking distance of Salem Center.
- Current population growth driven by proximity to Portland while offering more affordable housing.
- Abundant parking available for any prospective use.