Investment Overview

This 2.22-acre assemblage of six contiguous parcels at 2615 22nd St SE, Salem, OR 97302, offers a prime development opportunity. Zoned Industrial General under Salem’s Unified Development Code (Chapter 554), the occupied property with current tenant is ideal for light industrial, warehousing, distribution, flex-space, or professional office projects. Located 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 leading to little or no offsite improvements required. The zoning permits manufacturing, warehousing, R&D, and ancillary uses like retail nurseries or offices (e.g., tech or administrative hubs). Nearby developments, such as warehouses on Mission St SE, retail at The Yard Food Park, and medical & 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, enhance project feasibility.