Freestanding Two-Story Office
2965 Ryan Drive, Salem, OR 97301
Two-level Class-A office with private offices, conference rooms, and ADA accessibility, including a private outdoor patio.
Type:Commercial
Property size:
14,235 SFPrice / SF:
$245/SF- Added:
- Jan 8, 2025
- Days on Market:
- 544
- Last Refresh:
- Jun 22 at 2:30 am
Property Features for 2965 Ryan Drive
General Information
- Standard status
- Active
- Size
- 14,235 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1992
Listing office SMI Commercial Real Estate LLC
Listing date Jan 8, 2025
Source Century21northhomes
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of SMI Commercial Real Estate LLC
HighLights
- 14,235 SF freestanding, Class‑A office building built in 1992 with two levels
- Abundance of private offices plus open work spaces, conference rooms, and an IT room
- Multiple break rooms and employee lounges, with a private outdoor patio featuring tree top views
- Fully ADA accessible with an elevator and restrooms on both floors
- Tons of skylights plus seating areas throughout the office space
- Parking on site, and location close to I‑5 just off of Mission
Overview
This Class-A freestanding office building offers two levels totaling 14,235 square feet, with an interior mix of private offices, open work areas, conference rooms, an IT room, multiple break rooms, employee lounges, and seating areas. The building is fully ADA accessible and is elevator served, with restrooms on both floors. Natural light is supported by numerous skylights, and tenant comfort is enhanced by a private outdoor patio with treetop views.
The property is positioned in Central Salem, located close to I-5 and just off of Mission. It benefits from plenty of parking, supporting everyday employee access and visits from clients or vendors.
For buyers and operators, the layout is well suited for organizations needing a combination of enclosed offices and collaborative work space. With multiple break rooms, conference rooms, and a dedicated IT room, the building can accommodate day-to-day office operations across both levels, while the ADA design and elevator service support inclusive access for staff and guests. The outdoor patio provides an additional amenity space for staff use.
The property is positioned in Central Salem, located close to I-5 and just off of Mission. It benefits from plenty of parking, supporting everyday employee access and visits from clients or vendors.
For buyers and operators, the layout is well suited for organizations needing a combination of enclosed offices and collaborative work space. With multiple break rooms, conference rooms, and a dedicated IT room, the building can accommodate day-to-day office operations across both levels, while the ADA design and elevator service support inclusive access for staff and guests. The outdoor patio provides an additional amenity space for staff use.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $307.5k | $21.60 |
| − Vacancy | −$46.1k | −$3.24 |
| EGI | $261.4k | $18.36 |
| − OpEx | −$65.3k | −$4.59 |
| NOI | $196.0k | $13.77 |
14,235 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.80M
$2.45M – $3.27M
NOI $196,016 @ 7.0% cap · market cap 5.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,566 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
ATRIO Health Plans
Insurance Agency
Npmic Insurance Inc
Insurance Agency
WVP Home Health ...
Home Health Care Service
Doctors Co
Insurance Agency
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Marion
- State
- Oregon
- Longitude
- -123.0007932
- Latitude
- 44.9200776
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Two-level Class-A office with private offices, conference rooms, and ADA accessibility, including a private outdoor patio.
Where is this office building located?
The property is located at 2965 Ryan Drive Salem, OR.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 14,235 SF freestanding, Class‑A office building built in 1992 with two levels; Abundance of private offices plus open work spaces, conference rooms, and an IT room; Multiple break rooms and employee lounges, with a private outdoor patio featuring tree top views
