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    494 State St Salem, OR 97301

    For Lease
    $3,850,000

    Renovated historic office building in Salem, Oregon available for lease.

    Property size:
    1,868 SF
    Lot size:
    0.28 Acres

    Property Features for 494 State St

    General Information

    Size
    1,868 SF
    Lot size
    0.28 Acres

    Source: Tradition Real Estate Partners Agent AJ Nash

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Oregon Building Office Space

    The Historic Oregon Building, constructed in 1912, is available for lease. The building is under new ownership and has undergone renovations to restore its original presence and prestige. The property has 1,868 square feet of space. The location benefits from a traffic count of 13,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Justice Department Clothing Store Raphael Conant Attorney ... Legal Services Cascade Pacific Financial ... Financial Planner Zachary Dablow, Attorney ... Attorney John Stuart Jones, ... General Practice Attorney

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Hair Salon Building Supply Nail Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.0376451
    Latitude
    44.9394896

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    FAQs

    What type of property is this?
    Office building - Renovated historic office building in Salem, Oregon available for lease.
    Where is this office building located?
    The property is located at 494 State St Salem, OR.
    What are key features of this property?
    This property features: - Historic building built in 1912; - Under new ownership; - Recently renovated
    (503) 559-9279
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    494 State St Salem, OR 97301
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    Salem, OR 97301
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    494 State St Salem, OR 97301
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