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Fully Leased Salem Office Building

3220 State Street, Salem, OR 97301

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For Sale

$4,200,000

20,359 SF office building in Salem, Oregon, fully leased.

Type:Office

Property size:

20,359 SF

Price / SF:

$206/SF

HighLights

Fully leased 20,359 SF office building, providing immediate income.
Prime location in Salem, Oregon, a sought‑after business environment.
Constructed in 2005, indicating modern construction and features.
Convenient access to Interstate 5, central Salem, and Lancaster Drive.
Ample parking available for tenants and visitors.
Well‑maintained property in great condition.

We can help!

Listing Contact

Curt Arthur, SIOR

For Sale

$4,200,000

20,359 SF office building in Salem, Oregon, fully leased.

Type:Office

Property size:

20,359 SF

Price / SF:

$206/SF

Added:: Jan 26, 2026
Days on Market:: 135
Last Refresh:: Apr 5 at 8:29 pm

Property Features for 3220 State Street

General Information

Standard status: Active
Size: 20,359 SF
Property subtype: Office

Building Details

Year Built: 2005

We can help!

Listing Contact

Curt Arthur, SIOR

Listing agent Curt Arthur, SIOR License #201230204

Listing office Capacity Commercial Group

Listing date Jan 26, 2026

Source Corfac

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 Capacity Commercial Group

HighLights

Fully leased 20,359 SF office building, providing immediate income.
Prime location in Salem, Oregon, a sought‑after business environment.
Constructed in 2005, indicating modern construction and features.
Convenient access to Interstate 5, central Salem, and Lancaster Drive.
Ample parking available for tenants and visitors.
Well‑maintained property in great condition.

Overview

This 20,359 SF office building, constructed in 2005, is located in Salem, Oregon, and is currently fully leased. The property is an investment opportunity with a prime location and a strong anchor tenant. The building is in great condition and features ample parking and meticulous upkeep. Its location provides easy accessibility and connectivity, with close proximity to Interstate 5, central Salem, and Lancaster Drive. Nearby attractions include Riverfront Park, the Oregon State Capitol, and the historic Deepwood Estate. Salem's economy, diverse amenities, and dynamic growth make it an attractive business environment for office and office building investors. The property is 100% occupied and is positioned for ongoing success.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$439.8k	$21.60
− Vacancy	−$66.0k	−$3.24
EGI	$373.8k	$18.36
− OpEx	−$93.4k	−$4.59
NOI	$280.3k	$13.77

20,359 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$4.00M

$3.50M – $4.67M (±1% cap)

NOI $280,343 @ 7.0% cap · market cap 6.67%

Second Best

—

no second resolved use

Theoretical Best

Office A

$5.41M

$4.73M – $6.31M (±1% cap)

NOI $378,384 @ 7.0% cap · market cap 9.01%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Amedisys Home Health ... Home Health Care Service Joshua Ward, Bankers ... Insurance Agency Amber Walker, Bankers ... Insurance Agency Trevor Cross, Bankers ... Insurance Agency Micah Yang, Bankers ... Insurance Agency

Suggested Use

Location Insight

Map
Local Demand

City: Salem
County: Marion
State: Oregon
Longitude: -122.997
Latitude: 44.9276

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For sale
Office buildings
OR
Salem
97301
3220 State Street

What type of property is this?

Office building - 20,359 SF office building in Salem, Oregon, fully leased.

Where is this office building located?

The property is located at 3220 State Street Salem, OR.

What is the asking price?

The asking price for this property is $4,200,000.

What are key features of this property?

This property features: Fully leased 20,359 SF office building, providing immediate income.; Prime location in Salem, Oregon, a sought‑after business environment.; Constructed in 2005, indicating modern construction and features.

3220 State Street, Salem, OR 97301

20,359 SF office building in Salem, Oregon, fully leased.

Property Features for 3220 State Street

General Information

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Dual Living Opportunity in Salem

Six-Unit Multifamily Property

Two-Building 4-Unit Residential Property

Multifamily Apartment Building with Laundry

Detached 4-Unit Multifamily Property

Six-Unit Multifamily Building

Well-Maintained Multifamily Investment Opportunity

Two Manufactured Homes with Garages

Duplex with Attached Garages

Triplex with Private Yards

Corner-Lot Duplex with Private Yards

Salem Duplex with Garages

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