Cypress Center
1420 Lancaster Dr NE, Salem, OR 97301
Two-building, retail strip center with seven tenants and one 4,200SF vacancy located across the street from Fred Meyer and less than ½ mile from the Market Street
Interchange on Interstate 5 now for sale for the first time in 20 years. The exterior of the building was completely remodeled in 2019 to include new landscaping, façade and pylon signage.
The current income of the property provides for a capitalization rate of 6.78% using the 2024 actual operating expenses and proforma income for the vacancy. Seller is willing to consider carrying the debt and/or guaranty the income for the vacant suite at closing for qualified purchase terms.
1410 LANCASTER DR NE TAX ACCOUNT: 576495 MAP TAX LOT #: 072W19CA06100 LOT SIZE: 1.65 ACRES 2024/25 TAXES: $69,099.88
Reach out to the broker for more info on lease terms and amenities
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Contacts
First Commercial Real Estate
First Commercial Real Estate
Building Details
- For Sale $6,500,000
- Property Type Retail - Strip
- Property Size 26,965 SF
- Lot Size 1.65 Acre
- Year Built 1986
- Year Renovated 2019
- Date Updated Apr 30, 2026
Getting Around
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Walk Score ®
Very Walkable (78) -
Transit Score ®
Some Transit (44) -
Bike Score ®
Very Bikeable (70)
Location
- City Salem, OR
- Neighborhood East Lancaster
- Zip Code 97301
- Market Eugene
Points of Interest
Brooks Historical Society Depot
7.27 miles
Hopmere Station
7.35 miles
Fred Meyer Fuel
0.25 miles
Petrol Express
0.42 miles
Pacific Pride
0.49 miles
ChargePoint
0.63 miles
Arco
0.73 miles
Pulse
0.78 miles
Shell
0.92 miles
Electrify America
1.26 miles
Chevron
1.42 miles
WalMart North Park and Ride
1.26 miles
Grace Baptist Church Park and Ride
1.31 miles
Christ the Good Shepherd Lutheran Church Park and Ride
1.45 miles
State of Oregon Shuttle Mail Hub
1.72 miles
Airport Road Park and Ride
1.89 miles
Firehall Lot
2.06 miles
Postal Employee Parking
2.09 miles
Orange Lot
2.09 miles
Red Lot
2.11 miles
Burlington
0.37 miles
TJ Maxx
0.45 miles
Big Lots
0.50 miles
Roth's Fresh Markets
0.50 miles
Bi-Mart
0.56 miles
La Tapatia
0.62 miles
Target
0.64 miles
Ross
0.69 miles
Grocery Outlet
1.10 miles
1420 Lancaster Dr NE Listing Summary
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What is the asking price at Cypress Center?
Cypress Center is currently listed for sale at Contact for pricing.
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What is the total size of Cypress Center?
Cypress Center has a total of 26,965 square feet.
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What is the year built for Cypress Center?
The year built for Cypress Center is 1986.
