Leased Office
For Sale
Contact for pricing
305-325 Court St NE, Salem, OR 97301
The office property is zoned CB and has limited vacancy.
Property Size17,625 SF
Price / SF$158.87
Days on Market8
Property Features for 305-325 Court St NE
General Information
Standard status
Active
Size
17,625 SF
Property subtype
OFFICE
Zoning
CB
Occupancy
98%
Additional Details
Asking Price
$2,800,000
Listing Agency:
Hancock Real Estate
(503) 370-2581
Listed By:
Terry Hancock · License #200110013
(503) 371-1234
Source:
Moodyscre
Added: Oct 9
Changed: Oct 13
Last Checked: Oct 15 at 12:47AM
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 Hancock 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.
This office building contains 17,625 square feet and is 98% leased, offering an established multi-tenant occupancy profile. The property is zoned CB.
Located at 305-325 Court St NE in Salem, Oregon, the building is positioned in an urban setting.
Located at 305-325 Court St NE in Salem, Oregon, the building is positioned in an urban setting.
Key Highlights
- 17,625 square feet of office space
- 98% leased
- Zoned CB
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$242,696
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,853,920
$4.9M
Cap Rate 7%
$3,467,086
$3.5M
Cap Rate 9%
$2,696,622
$2.7M
Market Conditions
NOI Build-Up for 17,625 SF
Gross rent
$380.7K $21.60/SF
− Vacancy
−$57.1K −$3.24/SF
EGI
$323.6K $18.36/SF
− OpEx
−$80.9K −$4.59/SF
NOI
$242.7K $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%
$4,853,920
Cap Rate 7%
$3,467,086
Cap Rate 9%
$2,696,622
Alternative Uses
Best Use
Office B
$3.47M
$3.03M – $4.04M
NOI $242,696 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.68M
$4.09M – $5.46M
NOI $327,571 @ 7.0% cap · market cap 11.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
98%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,569
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
Frequently Asked Questions
What type of property is this?
Office building - The office property is zoned CB and has limited vacancy.
Where is this office building located?
The property is located at 305-325 Court St NE Salem, OR.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 17,625 square feet of office space; 98% leased; Zoned CB
