Secure Office
250 Division St, Salem, OR 97301
For Sale
$1,770,150
A flexible office layout includes private offices, conference rooms, ADA restrooms, and secured on-site parking.
Property Size6,597 SF
Price / SF$268.33
Days on Market144
Property Features for 250 Division St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Property Use
Amenities
private offices
conference rooms
ADA restrooms
perimeter fencing
flexible workspace
Building Details
Building Size
Year Built
Listing Agency:
Sperry - Pikes Northwest
(503) 588-3586
Listed By:
Madyson Jones · License OR #201229765
(503) 508-9490
Source:
Horsepowerrealestateproperties
Added: Jun 23
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 Sperry - Pikes Northwest
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6,597-square-foot office property was built in 2006 and contains 12 private offices, conference rooms, and ADA restrooms. The site is enclosed by perimeter fencing and includes 23 secured parking spaces. CB zoning is identified for the property.
At 250 Division St in Salem, the property is near the Salem Police Department, Union Gospel Mission, and Bridgeway Community Services.
At 250 Division St in Salem, the property is near the Salem Police Department, Union Gospel Mission, and Bridgeway Community Services.
Key Highlights
- 12 private offices and conference rooms
- 23 secured parking spaces
- Perimeter fencing around the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,841
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,816,820
$1.8M
Cap Rate 7%
$1,297,729
$1.3M
Cap Rate 9%
$1,009,344
$1.0M
Market Conditions
NOI Build-Up for 6,597 SF
Gross rent
$142.5K $21.60/SF
− Vacancy
−$21.4K −$3.24/SF
EGI
$121.1K $18.36/SF
− OpEx
−$30.3K −$4.59/SF
NOI
$90.8K $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%
$1,816,820
Cap Rate 7%
$1,297,729
Cap Rate 9%
$1,009,344
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.51M
NOI $90,841 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,609 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,991
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
$310,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - A flexible office layout includes private offices, conference rooms, ADA restrooms, and secured on-site parking.
Where is this office building located?
The property is located at 250 Division St Salem, OR.
What is the asking price?
The asking price for this property is $1,770,150.
What are key features of this property?
This property features: 12 private offices and conference rooms; 23 secured parking spaces; Perimeter fencing around the property
