Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    120 Liberty St NE Salem, OR 97301

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2 SF/Yr ($1,978 /Mo)

    Trendy, multi-level office space in downtown Salem available December 2024.

    Property size:
    8,050 SF
    Lot size:
    0.16 Acres

    Property Features for 120 Liberty St NE

    General Information

    Size
    8,050 SF
    Lot size
    0.16 Acres

    We can help!

    Listing Contact
    Elesa Doll
    Elesa Doll
    Source: Moodyscre

    Listing Agent: Elesa Doll

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

    Learn more

    Property Insight Report

    Overview

    Downtown Salem Office Space

    This 8050 square foot office space features three levels with soaring ceiling heights on the main level, including an expansive reception and lobby area. The main level offers four oversized private offices, a conference room with a brick accent wall, and open workspace that can be configured to meet specific needs. The mezzanine level includes five private glass-walled offices overlooking the lobby and open space below. Common area restrooms are shared between the main level and mezzanine. The lower level provides six private offices, a grand conference room, a supersized IT room, a large breakroom, and a modern lounge, along with two private restrooms. Multiple access points connect to restaurants such as Ritter’s and Archive Coffee & Bar. Located in downtown Salem's central business district, this space is suitable for a large employee-based business seeking a unique and trendy environment. The location is within walking distance of restaurants, shopping, entertainment, the Marion County Courthouse, and Riverfront Park. The space will be available in December 2024.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    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
    -123.0383236
    Latitude
    44.9402931

    Nearby Similar for Lease

    • $24 SF/Yr
      6,118 SF

      Sophisticated Office Space in Salem

      Premier office space in Salem's business and government hub.
      1241 State St, Salem, OR 97301
      View Details
    • $2 SF/Yr
      28,362 SF

      Premier Office Campus with Creek Frontage

      High-quality office space in Salem's finest business campus.
      650-680 Hawthorne Ave SE, Salem, OR 97301
      View Details
    • $24 SF/Yr
      250 SF

      Move-in Ready Salem Office Space

      Two Class B office buildings near Willamette University.
      1215 State St, Salem, OR 97301
      View Details
    • $1.25 SF/Yr
      82,422 SF

      Downtown Salem Office Space Available

      Remodeled office space in downtown Salem's central business district.
      280 Church St NE, Salem, OR 97301
      View Details
    • $2 SF/Yr
      105,457 SF

      Retail Suite in Anchored Center

      Turnkey retail suite with high visibility and traffic.
      1140 Wallace Rd NW, Salem, OR 97304
      View Details
    • $1.25 SF/Yr
      82,422 SF

      Downtown Salem Office Space Available

      Remodeled office space in downtown Salem near Capitol Mall.
      280 Church St NE, Salem, OR 97301
      View Details
    • $2 SF/Yr
      105,457 SF

      Retail Suite in High-Traffic Center

      Turnkey retail suite in established shopping center, available November 2025.
      1140 Wallace Rd NW, Salem, OR 97304
      View Details
    • $2 SF/Yr
      28,362 SF

      Premier Office Campus in Salem

      High-quality office space with amenities and convenient location.
      650-680 Hawthorne Ave SE, Salem, OR 97301
      View Details
    • $725,000
      1,185 SF

      Charming Historic Office Cottage in Salem

      Beautifully appointed, centrally located office space with parking.
      1415 Commercial St SE, Salem, OR 97302
      View Details
    • $21 SF/Yr
      233,358 SF

      Salem Office Space For Rent

      Office suites available in Salem, Oregon with I-5 visibility.
      4600 25Th Ave NE, Salem, OR 97301
      View Details
    • $4,000 /Mo
      5,405 SF

      Warehouse with Fenced Yard

      Versatile industrial property with office, warehouse space, and fenced yard.
      5755 State St, Salem, OR 97317
      View Details
    • $2 SF/Yr
      15,015 SF

      Renovated Medical Office Space Available

      Multi-tenant medical office with strong demographics and modern construction.
      2720 Commercial St SE, Salem, OR 97302
      View Details

    FAQs

    What type of property is this?
    Office space - Trendy, multi-level office space in downtown Salem available December 2024.
    Where is this office space located?
    The property is located at 120 Liberty St NE Salem, OR.
    What is the lease rate?
    The lease rate is $2 SF/Yr.
    What are key features of this property?
    This property features: - 8,050 SF of office space across 3 levels in Downtown Salem's CB district.; - Multiple access points to popular restaurants (Ritter’s and Archive Coffee & Bar).; - Features a mix of 15 private offices, conference rooms, open workspace, breakroom, and lounge.
    (503) 390-6060
    Request Owner's contact information
    120 Liberty St NE Salem, OR 97301
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    120 Liberty St NE
    Salem, OR 97301
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    120 Liberty St NE Salem, OR 97301
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Elesa Doll
    Elesa Doll
    Real Estate License ID: OR 200708163
    (503) 390-6060
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.