Wallace Rd NW - 9.12 Acres Wallace Rd. NW 9.12 Acres of Commercial Land Offered at £1,696,005 in Salem, OR 97304
PROPERTY FACTS
| Price | £1,696,005 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 9.12 AC |
| Zoning | RM2 - Residential Medium Density |
1 LOT AVAILABLE
Lot 2
| Price | £1,696,005 |
| Price Per AC | £185,965.46 |
| Lot Size | 9.12 AC |
WEST SALEM DEV. LAND • Desirable location in West Salem • Public utilities at the site along with some street improvements • Close proximity to downtown Salem and major transportation routes • Steady increase in population growth and housing demand
DESCRIPTION
This offering presents a prime 1.82 and 7.30-acre parcel of Residential Medium Density (RM2) zoned land located in the rapidly growing West Salem neighborhood, directly adjacent to the highly anticipated Marine Drive corridor. With proximity to major transportation routes, expanding infrastructure, and a thriving local community, this site offers significant potential for multifamily development in one of the most promising areas of Salem, Oregon. West Salem is a key growth area within the broader Salem metro region. The city has seen consistent population growth, and as residential demand continues to increase, there is a recognized need for additional housing in the area. The planned improvements to Marine Drive will enhance accessibility, further positioning West Salem as a desirable location for residential development.
