409 Court St NE, Salem, OR
Retail for Sale - $725,000 - 6,669 Sq. Ft.
Agent Info
| Alex Rhoten |
Property Info
| CIMLS# | 1143745 |
| Location 409 Court St NE Salem OR 97301 | |
| Updated | February 27th, 2024 |
| Type | Retail |
| Price | $725,000 |
| Building | 6,669 Sq. Ft. |
Property Description
Historic downtown Salem retail building with a ton of potential! Built in 1916, this building began as a W.W. Moore's Furniture store and was most recently the Anderson- McIlnay's Florist. This property is approx. 6,669 SF (according to county records) with 3 levels: a basement, the main/1st floor and the 2nd floor apartment/living space, each approx. 2,223 SF; plus an open mezzanine (est. to be approx. 1,076 SF) in the 1st floor space, which wraps around the inner perimeter of the building.
Buyer to be responsible for verifying occupancy with City of Salem.
The 1st floor retail space is approx. 2,223 SF (county records) and carpeted with large street windows and interior window display corridors. There are three fully partitioned work spaces, an open workspace behind the front counter, and a floral refrigerator. In the middle of the first floor is a staircase leading up to the mezzanine level of the retail space. The north and south areas of the mezzanine level are wider, with partially enclosed areas. There is no bathroom on the main 1st floor level. The basement is accessed via another staircase on the 1st floor. The basement is approx. 2,223 SF (county records) a mostly open space, with a few partitioned storage areas around the sides, a small bathroom, and access to the power meters and sidewalk elevator.
The 2nd floor living space is 2,223 SF (county records) and is accessible from the street to the left of the main building entrance. Atop the staircase is a landing leading to the various living spaces. On this level there are 1.5 bathrooms, a small kitchen and a living/main room and 7 other rooms. The full bath was added and is not to code and previous tenants added walls to create the current floorpan.
The roof was replaced this year (2023) and comes with a 15 year warranty, and there will be new skylights installed. However, the property has numerous deferred maintenance items remaining on all levels.
*The City of Salem is willing help with the remodeling of the building as long as a tenant is lined up to occupy the property.*
