Three-Story Class A Office
For Sale
$9,000,000
250 Church St SE, Salem, OR 97301
Well-maintained office building with basement, updated roof and HVAC, and 130 on-site parking spaces.
Property Size36,100 SF
Days on Market294
Property Features for 250 Church St SE
General Information
Standard status
Active
Size
36,100 SF
Class
A
Total Parking Spaces
130
Property subtype
Office
Additional Details
Business Included
Yes
Building Details
Building Size
36,100 SF
Year Built
1995
Stories
3
Tenancy
Multi
Listing Agency:
MOSAR COMMERCIAL PROPERTIES
Listed By:
MIKE MOSAR
Source:
Tripleoaksrealty
Added: Nov 1, 2025
Changed: Aug 14
Last Checked: Aug 21 at 3:52AM
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 MOSAR COMMERCIAL PROPERTIES
Investment Insights
Based on property information with market context.
This well-maintained three-story Class A office building includes a basement and offers an established office environment. Recent upgrades include a new membrane roof and modern HVAC systems, supporting reliable year-round operations. The property also features 130 on-site parking spaces, providing convenient access for tenants and visitors.
Located in downtown Salem near Salem Hospital and Willamette University, the building benefits from its proximity to major local employers and consistent daytime activity. The property is currently supported by established tenants including Saalfeld-Griggs Law Firm, Bridgeway Community Health, and Willamette Valley Oral & Maxillofacial.
For prospective buyers or operators, the asset offers a turn-key foundation for office use with documented building improvements and on-site parking capacity. With a stable tenant base already in place, it may be well suited for those seeking an office investment aligned with durable downtown demand drivers connected to the surrounding medical and educational institutions.
Located in downtown Salem near Salem Hospital and Willamette University, the building benefits from its proximity to major local employers and consistent daytime activity. The property is currently supported by established tenants including Saalfeld-Griggs Law Firm, Bridgeway Community Health, and Willamette Valley Oral & Maxillofacial.
For prospective buyers or operators, the asset offers a turn-key foundation for office use with documented building improvements and on-site parking capacity. With a stable tenant base already in place, it may be well suited for those seeking an office investment aligned with durable downtown demand drivers connected to the surrounding medical and educational institutions.
Key Highlights
- Class A, three‑story office building with basement built in 1995
- Recent upgrades include a new membrane roof and modern HVAC systems
- 130 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$497,097
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,941,940
$9.9M
Cap Rate 7%
$7,101,386
$7.1M
Cap Rate 9%
$5,523,300
$5.5M
Market Conditions
NOI Build-Up for 36,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$779.8K $21.60/SF
− Vacancy
−$117.0K −$3.24/SF
EGI
$662.8K $18.36/SF
− OpEx
−$165.7K −$4.59/SF
NOI
$497.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,941,940
Cap Rate 7%
$7,101,386
Cap Rate 9%
$5,523,300
Alternative Uses
Best Use
Office B
$7.10M
$6.21M – $8.28M
NOI $497,097 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.58M
$8.39M – $11.18M
NOI $670,940 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,435
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
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office building with basement, updated roof and HVAC, and 130 on-site parking spaces.
Where is this office building located?
The property is located at 250 Church St SE Salem, OR.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: Class A, three‑story office building with basement built in 1995; Recent upgrades include a new membrane roof and modern HVAC systems; 130 on‑site parking spaces
