Class A Office Building with
For Sale
Contact for pricing
3155 River Rd S, Salem, OR 97302
Two professionally demised office suites each feature private offices, reception areas, and open work rooms.
Property Size6,540 SF
Price / SF$344.04
Days on Market907
Property Features for 3155 River Rd S
General Information
Standard status
Active
Size
6,540 SF
Class
A
Property subtype
OFFICE
Site & Location
Neighborhood
Southwest Association of Neighbors (Swan)
Additional Details
Office Units
2
Building Details
Construction
wood-framed
Tenancy
Multi
Listing Agency:
First Commercial Real Estate
(503) 364-7400
Listed By:
Josh Kay
(503) 931-3521
Source:
Moodyscre
Added: May 9, 2024
Changed: Oct 25
Last Checked: Oct 30 at 4:35PM
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 First Commercial Real Estate
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Investment Insights
Based on property information with market context.
This Class A office building has been demised into two professional office suites. Each suite includes multiple private offices, reception areas, and open work rooms, providing a practical layout for day-to-day operations.
The building is wood-framed with a decorative brick veneer on the exterior walls.
Offering is for an office building configured as two separate suites, suitable for an owner-occupant or investor seeking a multi-suite office property.
The building is wood-framed with a decorative brick veneer on the exterior walls.
Offering is for an office building configured as two separate suites, suitable for an owner-occupant or investor seeking a multi-suite office property.
Key Highlights
- Class A office building demised into two professional office suites
- Each suite includes private offices, a reception area, and open work rooms
- Wood‑framed construction with decorative brick veneer exterior walls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,056
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,801,120
$1.8M
Cap Rate 7%
$1,286,514
$1.3M
Cap Rate 9%
$1,000,622
$1.0M
Market Conditions
NOI Build-Up for 6,540 SF
Gross rent
$141.3K $21.60/SF
− Vacancy
−$21.2K −$3.24/SF
EGI
$120.1K $18.36/SF
− OpEx
−$30.0K −$4.59/SF
NOI
$90.1K $13.77/SF
Area
Salem, OR
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,801,120
Cap Rate 7%
$1,286,514
Cap Rate 9%
$1,000,622
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.50M
NOI $90,056 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,550 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
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Business Placement
Demographics for 97302, OR
39,776
Population
17,888
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
95%
High-School Grad
23.5 sq mi
ZIP Area
1,693
Density / Sq Mi
$83,697
Median Household Income
$44,623
Median Earnings
$1,230
Median Rent
$415,200
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Two professionally demised office suites each feature private offices, reception areas, and open work rooms.
Where is this office unit located?
The property is located at 3155 River Rd S Salem, OR.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Class A office building demised into two professional office suites; Each suite includes private offices, a reception area, and open work rooms; Wood‑framed construction with decorative brick veneer exterior walls
