Investment Overview

This 2.22-acre assemblage of six contiguous parcels at 2615 22nd St SE, Salem, OR 97302, offers a prime development opportunity with minimal to no offsite improvements required. Located in an Opportunity Zone and zoned General Industrial (IG) with a 75 foot height limit, the land is ideal for self storage, light manufacturing, warehousing, distribution, wholesale trade, flex space, or ancillary office development. Located on a hard corner in southeast Salem’s dynamic industrial corridor, it aligns with strong regional demand. Positioned near I-5 and Mission Street SE (OR-213), the site connects easily to Portland, Eugene, and Salem. Proximity to Commercial Street SE retail and Salem Health (1 mile west) supports a robust labor pool, driven by Salem’s steady population growth and strong local economy. Recent McGilchrist Street upgrades, including a new 22nd St SE intersection (2024) and ongoing enhancements (2025 completion), boost logistics, with full utilities and rail access enhancing appeal. The zoning permits manufacturing, warehousing, distribution, research and development, and ancillary uses like retail nurseries or offices (for example, tech or administrative hubs supporting on-site operations). Nearby developments, such as warehouses on Mission St SE, retail at The Yard Food Park, and medical and office buildings, reflect the site’s potential. Salem’s industrial market thrives with low vacancy rates and growing demand. City and state incentives, including the Industrial Development Overlay and the land's Opportunity Zone designation, enhance project feasibility.