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    Cottage St NE 475 Salem, OR 97301

    For Lease
    $4,395,000

    Professional office space in downtown Salem with build-out potential.

    Property size:
    5,266 SF
    Lot size:
    0.63 Acres

    Property Features for Cottage St NE 475

    General Information

    Size
    5,266 SF
    Lot size
    0.63 Acres

    Source: First Commercial Real Estate Agent Jennifer Martin

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

    Overview

    Downtown Office Space Available

    This main level professional office space is located in downtown Salem, at the corner of Cottage Street and Marion Street. The space features a shared lobby at the building's entrance. This presents an opportunity for a tenant to build out their ideal space, with potential for a mix of executive offices, an open work area, conference rooms, and a reception/waiting area. The location offers the benefits of being centrally located in the downtown business district, with on-street parking and a private parking lot for employees and clients. The property has 5266 square feet of office space. The asking lease rate does not consider amortization of any tenant-specific improvements over a market Tenant Improvement allowance. Any negotiated landlord incentives will be based on the tenant’s credit quality and length of the initial lease term.
    Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Realty agency Building Supply Law Firm Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.032661
    Latitude
    44.940291

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    FAQs

    What type of property is this?
    Office space - Professional office space in downtown Salem with build-out potential.
    Where is this office space located?
    The property is located at Cottage St NE 475 Salem, OR.
    What are key features of this property?
    This property features: - Prime downtown location at the corner of Cottage and Marion.; - Potential to build out a customized office space.; - Shared, attractive lobby.
    (503) 364-7400
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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
    Cottage St NE 475 Salem, OR 97301
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