Office Suites Conversion at
245 Commercial St SE, Salem, OR 97301
For Lease
Contact for pricing
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 Market316
Property Features for 245 Commercial St SE
General Information
Standard status
Size
Property subtype
Lease Type
Site & Location
Neighborhood
Amenities
common restrooms
lobby
large breakroom
Spaces For Lease
at 245 Commercial St SE
245 Commercial St SE
$2.25/SF/Mo
Floor
1
Size
1,140 SF
Type
RETAIL
Lease Type
GROSS
Availability
AVAILABLE, Now
Sublease
No
- The former Umpqua Bank full 1st floor suite is being customized into 4 smaller office suites ranging from 981–1,141 SF with a range of layouts. Suites will share common restrooms, lobby & large breakroom.
- This high class, high visibility office is located at the corner of Commercial St & Ferry St a block from Riverfront Park. 245 Commercial is one of the highest traffic professional buildings in Downtown Salem’s CB District.
- Please contact listing brokers for more information. Construction to begin Spring 2025. Full service base lease with pass throughs on any tenant’s percentage of property tax, insurance and utility increases annually starting Year 2.
Contact us
Listing Agency:
SMI Real Estate
(503) 390-6060
Listed By:
Elesa Doll · License OR #200708163
(503) 884-1273
Source:
Moodyscre
Added: Jan 2
Changed: Nov 3
Last Checked: Nov 12 at 10:12AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Lease Benchmarks for Salem, OR
$25.92 /SF/Yr
Avg Asking Price
$15–$51.76 /SF/Yr
Price Range
9,141 SF
Avg Space Size
Properties on Market for Office Units in Salem
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Former bank first-floor space is being reconfigured into four smaller office suites with shared lobby, restrooms, and breakroom.
Where is this office unit 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
