198 Commercial Street SE, Salem, OR 97301
- $8,215,000
- List Price
- $8,215,000
- Status
- ACTIVE
- Days on Market
- 129
- Price Change
- ▼ $285,000 1784778734
- MLS#
- 220221006
- Subtype
- Commercial Sale
- Year Built
- 1956
- Lot Size
- 20,037
- Acres
- 0.46
- Subdivision
- N/A
- Neighborhood
- N/A
Property Description
Presenting one of Salem's most iconic, beautifully renovated office buildings Offered at a solid 8.6% cap rate! Ideally positioned in the heart of downtown directly across from the Salem Convention Center & the nearly new Holman Hotel. Located just 1 block from the Willamette River, this property sits within the premier Central Salem Core Business District on one of the highest-trafficked corners in the city. The building has undergone over $2 million in recent renovations, blending historic character w/ modern upgrades. It is anchored by A+ core, long-term tenants secured by strong stable leases through 2032 with extension options--100% occupancy provides reliable income and investment security. Additional highlights include excellent parking options, with convenient access to the adjacent parking structure via a connected land bridge, enhancing tenant & visitor accessibility. This is a rare opportunity to acquire a landmark asset in one of Salem's most desirable commercial location.
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Additional Information
- Interior Features
- Built-in Features, Elevator, Solid Surface Counters, High Speed Internet
- Taxes
- $87,744
- Zoning
- CB
- Flooring
- Carpet, Tile, Vinyl
- Heating
- Forced Air, Heat Pump, Zoned
- Air Conditioning
- Central Air, Zoned
- Stories
- Two
- Levels
- Two
- Roof
- Membrane
- Foundation
- Slab
- Parking Features
- Other, Attached, On Street
- View
- River, Neighborhood
Listing courtesy of Century 21 North Homes Realty.
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The data relating to real estate for sale on this web site comes in part from the Internet Data Display (IDX) of the Southern Oregon Multiple Listing Service. Real estate listings held by brokerage firms other than our company are marked with the IDX logo and detailed information about them includes the name of the listing brokers. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information subject to change and should be independently verified. Last updated: