Office Suites Conversion at
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245 Commercial St SE, Salem, OR 97301
Former bank first-floor space is being reconfigured into four smaller office suites with shared lobby, restrooms, and breakroom.
Space Size1,140 SF
Days on Market223
Property Features for 245 Commercial St SE
General Information
Standard status
Active
Size
1,140 SF
Property subtype
RETAIL
Lease Type
Gross
Amenities
common restrooms
lobby
large breakroom
Spaces For Lease
at 245 Commercial St SE Contact us- Floor
- 1
- Size
- 1,140 SF
- Type
- RETAIL
- Lease Type
- GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
245 Commercial St SE $2.25/SF/Mo
- The former Umpqua Bank full 1st floor suite is being customized into 4 smaller...
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Listing Agency:
SMI Real Estate
(503) 884-1273
Listed By:
Elesa Doll · License #200708163
(503) 884-1273
Source:
Moodyscre
Added: Jan 2
Changed: Aug 8
Last Checked: Aug 13 at 5:06AM
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 Real Estate
Investment Insights
Based on property information with market context.
The former Umpqua Bank full first-floor suite is being customized into four smaller office suites, with each suite ranging from 981 to 1,141 square feet and featuring a range of layouts. The suites will share common restrooms, a lobby, and a large breakroom.
Located at the corner of Commercial St and Ferry St in downtown Salem, the building is one block from Riverfront Park. Public remarks indicate 245 Commercial is among the highest-traffic professional buildings in Downtown Salem’s CB District.
Construction is scheduled to begin Spring 2025. The offering is described as a full-service base lease with pass-throughs on any tenant’s percentage of property tax, insurance, and utility increases annually, starting Year 2.
Located at the corner of Commercial St and Ferry St in downtown Salem, the building is one block from Riverfront Park. Public remarks indicate 245 Commercial is among the highest-traffic professional buildings in Downtown Salem’s CB District.
Construction is scheduled to begin Spring 2025. The offering is described as a full-service base lease with pass-throughs on any tenant’s percentage of property tax, insurance, and utility increases annually, starting Year 2.
Key Highlights
- Former Umpqua Bank full first‑floor space reconfigured into 4 smaller office suites
- Suite sizes range from 981–1,141 SF with a variety of layouts
- Shared amenities include common restrooms, lobby, and a large breakroom
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
3,870
Businesses Nearby
Explore this area
Business Placement
Demographics for 97301, OR
56,393
Population
21,419
Households
2.6
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
11.3 sq mi
ZIP Area
4,991
Density / Sq Mi
$57,497
Median Household Income
$33,220
Median Earnings
$1,197
Median Rent
$310,800
Median Home Value
Market
Lease Benchmarks for Salem, OR
$25.98 /SF/Yr
Avg Asking Price
$16.2–$54.55 /SF/Yr
Price Range
8,864 SF
Avg Space Size
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Former bank first-floor space is being reconfigured into four smaller office suites with shared lobby, restrooms, and breakroom.
Where is this office units located?
The property is located at 245 Commercial St SE Salem, OR.
What are key features of this property?
This property features: Former Umpqua Bank full first‑floor space reconfigured into 4 smaller office suites; Suite sizes range from 981–1,141 SF with a variety of layouts; Shared amenities include common restrooms, lobby, and a large breakroom
