3186 Orchard Heights Rd NW

Salem, OR

Land for Sale - $34,842,500 - 126 acres


Agent Info

Alex Rhoten

Property Info

CIMLS#1119276
Location
  3186 Orchard Heights Rd NW
  Salem OR 97304
UpdatedAugust 14th, 2023
TypeLand
Price$34,842,500
Land126 acres

Property Description

PROPERTY DESCRIPTION

The Orchard Heights Land Development is owned by a local, long-time real estate development family, who began acquiring the land in 1962. This property is rare in that it is one of the largest remaining developable land parcels within the Salem city limits and the UGB. With 126.7 AC, this asset has three land terraces allowing for different densities and views of Oregon's Cascade mountain range. It is also one of the highest demographic areas in Salem, making it perfect for multifamily, single family and commercial uses.

The 126.7 AC of land have been zoned Residential Agriculture (RA) and Mixed-Use II (MU-II) by the City of Salem. Approximately 62.4 AC are zoned MU-II and approximately 64.3 AC are zoned RA. There are a total of 5 tax lots.

According to Westech Engineering, the property does not require a water tank, but a pump station needs to be designed. White oaks and storm sewer need to be addressed as part of the development process.

Tax #s: 267993, 268002, 271488, 267906, 268130

Lots: 900, 1500, 1700, 1800, 1900

ESTIMATED FINANCIAL BREAKDOWN

$275,000 an Acre (126.7 AC) RA and MU2.

$275,000 x 126.7 AC = $34,842,500

Total Estimated Value = $34,842,500

Buyer to be responsible for verifying occupancy with City of Salem

*Buyer to pay Buyer's Broker Commission*

**These properties are owned & managed by a trust and this information is only based on information received and may be subject to change.**


Financials