1890 Capitol St Ne, Salem, OR 97301

Property Description

Potential Seller Financing in conjunction with 1st position bank/private money loan. Excellent visibility and flexibility at 1890 Capitol St NE in Salem. This 1,440 SF commercial building sits on a 0.15-acre corner lot and features a large open retail/lobby area, two offices or storage/supply rooms, bathroom, and break room. Six onsite parking spaces plus adjacent street parking provide convenient access. Brick and shingle siding, prominent signage, and a high-visibility Capitol Street location add to the property's appeal. City of Salem traffic data from 2015 reported more than 12,000 vehicles passing daily. Located adjacent to Salem Clinic. Previously operated as a cannabis dispensary, the property offers the opportunity to continue a similar use or transition to another permitted commercial use. Potential uses include eating and drinking establishments, office, laboratory and research, daycare, neighborhood convenience store, specialty retail, and other commercial uses. The building's manageable size, visibility, existing security features, and flexible layout could lend itself particularly well to uses such as a jewelry store, pawn shop, collectible or trading card shop, coin shop, boutique, electronics or repair business, or other specialty retailer. Existing furniture, fixtures, security system, large safes, display cases, and other dispensary equipment are negotiable, creating the potential for a turnkey or easily adaptable operation. Existing cannabis retail license is also negotiable and subject to buyer qualification, regulatory requirements, and applicable approvals.