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Office/Medical Building Near State Capitol

1320 Chemeketa St NE, Salem, OR 97301

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For Sale

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Charming 1928 building suitable for office or medical use.

Type:Office

Property size:

3,281 SF

Price / SF:

$240/SF

HighLights

Charming 1928 building with modern infrastructure.
Prime location: close proximity to Willamette University, Oregon State Capitol, and Salem Hospital.
Versatile building suitable for medical, dental, or professional office use.
Existing plumbing and vacuum infrastructure suitable for medical/dental practice.
Previously a thriving dental practice.
Located in Salem's Central Business District fringe.

We can help!

Contact an agent

Curt Arthur

For Sale

Contact for pricing

Charming 1928 building suitable for office or medical use.

Type:Office

Property size:

3,281 SF

Price / SF:

$240/SF

Added:: Jan 21, 2026
Days on Market:: 166
Last Refresh:: Mar 17 at 1:13 pm

Property Features for 1320 Chemeketa St NE

General Information

Standard status: Active
Size: 3,281 SF
Property subtype: Office

Building Details

Year Built: 1928

We can help!

Contact an agent

Curt Arthur

Listing office Capacity Commercial Group

Listing date Jan 21, 2026

Source Crexi

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 Capacity Commercial Group

HighLights

Charming 1928 building with modern infrastructure.
Prime location: close proximity to Willamette University, Oregon State Capitol, and Salem Hospital.
Versatile building suitable for medical, dental, or professional office use.
Existing plumbing and vacuum infrastructure suitable for medical/dental practice.
Previously a thriving dental practice.
Located in Salem's Central Business District fringe.

Overview

This building, originally constructed in 1928 and later converted for office or medical use, combines historical charm with modern infrastructure. The property is situated just three blocks from Willamette University and the Oregon State Capitol, on the eastern fringe of Salem's Central Business District, and is also located in close proximity to Salem Hospital and the Capitol Mall. Previously a dental practice, the 3281-square-foot building retains plumbing and vacuum infrastructure suitable for dental or medical use. It is also suitable for use as a professional office, such as a law office, accounting firm, or state association.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$70.9k	$21.60
− Vacancy	−$10.6k	−$3.24
EGI	$60.2k	$18.36
− OpEx	−$15.1k	−$4.59
NOI	$45.2k	$13.77

3,281 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$645.4K

$564.7K – $753.0K (±1% cap)

NOI $45,179 @ 7.0% cap · market cap 5.72%

Second Best

Healthcare Medical

$627.7K

$549.2K – $732.3K (±1% cap)

NOI $43,939 @ 7.0% cap · market cap 5.56%

Theoretical Best

Office A

$871.1K

$762.2K – $1.02M (±1% cap)

NOI $60,979 @ 7.0% cap · market cap 7.72%

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

Property Profile Location Intelligence

Current Use by Public Records

Gary W Boehne ... Dental Office Meadowlark Dental Dental Office Rachel Jablonski Dental Office

Suggested Use

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Location Insight

Map
Local Demand

City: Salem
County: Marion
State: Oregon
Longitude: -123.0244104
Latitude: 44.9386154

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For sale
Medical Office Space
OR
Salem
97301
1320 Chemeketa St NE

What type of property is this?

Medical Office Space - Charming 1928 building suitable for office or medical use.

Where is this medical office space located?

The property is located at 1320 Chemeketa St NE Salem, OR.

What is the asking price?

The asking price for this property is $790,000.

What are key features of this property?

This property features: Charming 1928 building with modern infrastructure.; Prime location: close proximity to Willamette University, Oregon State Capitol, and Salem Hospital.; Versatile building suitable for medical, dental, or professional office use.