Office Building with Partial
1415 Liberty St, Salem, OR 97302
For Sale
$675,000
CO-zoned property offers central air conditioning, basement storage, and a separate bathroom below grade.
Property Size3,082 SF
Lot Size0.20 Acres
Price / SF$219.01
Days on Market88
Property Features for 1415 Liberty St
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Road Access
Additional Details
Property Use
Amenities
central AC
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Capitol Real Estate
Listed By:
Patrick Sieng · License OR #201206833
(503) 406-3936
Source:
Horsepowerrealestateproperties
Added: Aug 18
Changed: Nov 11
Last Checked: Nov 12 at 4:08PM
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 Capitol Real Estate
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Investment Insights
Based on property information with market context.
Built in 1916, this office building contains 3,082 square feet, including five offices and three bathrooms. The property occupies a 0.20-acre lot and has central air conditioning. A partial basement adds storage space and includes a bathroom; the building was previously used as a law office.
The site has 75 feet of frontage off Commercial St and five street-level parking spaces. Zoning is CO.
The site has 75 feet of frontage off Commercial St and five street-level parking spaces. Zoning is CO.
Key Highlights
- 3,082‑square‑foot office building on a 0.20‑acre lot
- Five offices and three bathrooms
- Partial basement with a bathroom and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,439
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$848,780
$848.8K
Cap Rate 7%
$606,271
$606.3K
Cap Rate 9%
$471,544
$471.5K
Market Conditions
NOI Build-Up for 3,082 SF
Gross rent
$66.6K $21.60/SF
− Vacancy
−$10.0K −$3.24/SF
EGI
$56.6K $18.36/SF
− OpEx
−$14.1K −$4.59/SF
NOI
$42.4K $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%
$848,780
Cap Rate 7%
$606,271
Cap Rate 9%
$471,544
Alternative Uses
Best Use
Office B
$606.3K
$530.5K – $707.3K
NOI $42,439 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$818.3K
$716.0K – $954.7K
NOI $57,281 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,209
Businesses Nearby
Explore this area
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
$415,200
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Salem, OR
Properties on Market for Office buildings in Salem
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - CO-zoned property offers central air conditioning, basement storage, and a separate bathroom below grade.
Where is this office building located?
The property is located at 1415 Liberty St Salem, OR.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 3,082‑square‑foot office building on a 0.20‑acre lot; Five offices and three bathrooms; Partial basement with a bathroom and storage
