Retail - Power Center

1120-1264 Lancaster Dr SE
Salem, OR 97317

$13,500,000

Brochure Contact Team

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

Overview

Cap Rate 7.11%
Location Salem
Property type Retail - Power Center
CountyMarion
Property UseThis is an investment property.
Construction StatusExisting
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 viewexteriorexteriorside

Property Team

Cap Berri, CPM, RPA, CCIM

VP, Director of Brokerage & Marketing Services, NAI Coordinator

Chrissy Flinn

Assistant Real Estate Manager, Principal Broker

Lou Elliott

Principal, Chief Executive Officer

Howard Page

Real Estate Manager, Principal Broker