NW Wallace Rd NW

Salem, OR 97304

$1,975,000
Price
397,267 / 9.12
Lot Size / Acres
Get preapproved with Rocket Mortgage1

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.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.
  1. Listed by David Keys • Norris & Stevens Investment Real Estate Services • DavidK@norris-stevens.com

Property Details for Northwest Wallace Road Northwest

Zoning
RM2
LISTING UPDATED: 05/14/2026 09:37 AM

Property Details for Northwest Wallace Road Northwest

StatusActive
MLS #468567809
Days on Market498
Taxes$1,522 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeLand
MLS TypeLand / Multi Family
Year Built-
Lot Size9.12 AC
CountyPolk County
Get preapproved with Rocket Mortgage1

Location

Listing Courtesy of Norris & Stevens Investment Real Estate Services
Add your commute

Building Information for Northwest Wallace Road Northwest

Building Size-Lot Size9.12 AC

Payment Calculator

Get preapproved with Rocket Mortgage1

$9,968 per month

30 year fixed, 6.36% Interest

Principal and Interest

$9,842

Property Taxes

$127

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for Northwest Wallace Road Northwest

Summary
Location and General Information
  • Country: US
  • Directions: Creek Ct NW
School Information
  • Elementary School: Harritt
  • High School: West Salem
  • Middle Or Junior School: Straub
Taxes and HOA
  • Tax Year: 2024
  • Tax Annual Amount: $1,521.74
  • Parcel Number: 565287
  • Parcel Number 2: 575144
  • Tax Legal Description: LOT PARCEL 3
Property
Lot Information
  • Acres: 9.12
  • Lot Size Square Feet: 397267.0
  • Lot Size Range: Acres7to10
  • Lot Size: 7 to 9.99 Acres
Property and Assessments
  • Property Sub Type: Multi Family
  • Property Type: Land
Utilities
  • Utilities: Electricity Available, Natural Gas Available, Public Sewer, Water Available

Schools near Northwest Wallace Road Northwest

This home is within Salem-Keizer School District 24j.
Rating
School
Type
Grades
Distance
Harritt Elementary School
Public - K to 5
Walker Middle School
Public - 6 to 8
West Salem High School
Public - 9 to 12
Jane Goodall Environmental Middle Charter School
Charter - 6 to 8
Rating
School
Distance
Harritt Elementary School
PublicK to 5

Walker Middle School
Public6 to 8

West Salem High School
Public9 to 12

Jane Goodall Environmental Middle Charter School
Charter6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Explore Nearby Homes

More information about Northwest Wallace Road Northwest, Salem, OR 97304

Northwest Wallace Road Northwest is a 9.12 ac of land for sale in Salem, OR 97304. This property was listed for sale on January 30, 2025 by Norris & Stevens Investment Real Estate Services, it's currently listed at $1,975,000. This listing's school district is Salem-Keizer School District 24j. Nearby schools include Harritt Elementary School, Walker Middle School and West Salem High School. Northwest Wallace Road Northwest is a 0-bed, 0-bath, 9.12 ac of land on a 397,267 sq. ft. / 9.12 acres lot.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Norris & Stevens Investment Real Estate Services

All information provided is deemed reliable but is not guaranteed and should be independently verified. The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland Oregon. Real estate listings held by brokerage firms other than Compass are marked with the RMLS logo and detailed information about these properties includes the names of the listing brokers. Copyright © 2026 RMLS, Portland, Oregon. Last updated: 05/14/2026 09:37 AM