Brick Office
3655 LIBERTY Rd, Salem, OR 97302
For Sale
$725,000
CommercialSale, Salem, OR
Property Size2,000 SF
Lot Size0.50 Acres
Price / SF$362.50
Days on Market51
Property Features for 3655 LIBERTY Rd
General Information
Property type
Property subtype
Zoning
View
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Amenities
Conference rooms
private offices
2 bathrooms
Building Details
Year built
Floors in Building
Building materials
Roof type
Listing Agency:
Premiere Property Group LLC
(503) 670-9000
Listed By:
Judy Gysin · License OR #200108155
(503) 559-9600
Added: Sep 24
Changed: Nov 4
Last Checked: Nov 13 at 8:06AM
MLS# 308126105
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,000-square-foot office building sits on a 0.5-acre lot and includes conference rooms, private offices, and two bathrooms. Brick construction dates to 1954, with forced-air heating, central air conditioning, and a composition roof. The property is zoned CO/MU.
Located on Liberty Road in South Salem, the building occupies a prominent thoroughfare. The site offers parking, with the possibility of additional parking subject to City of Salem verification.
Located on Liberty Road in South Salem, the building occupies a prominent thoroughfare. The site offers parking, with the possibility of additional parking subject to City of Salem verification.
Key Highlights
- 2,000‑square‑foot office building on a 0.5‑acre lot
- Conference rooms, private offices, and 2 bathrooms
- CO/MU zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,540
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,800
$550.8K
Cap Rate 7%
$393,429
$393.4K
Cap Rate 9%
$306,000
$306.0K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$43.2K $21.60/SF
− Vacancy
−$6.5K −$3.24/SF
EGI
$36.7K $18.36/SF
− OpEx
−$9.2K −$4.59/SF
NOI
$27.5K $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%
$550,800
Cap Rate 7%
$393,429
Cap Rate 9%
$306,000
Alternative Uses
Best Use
Office B
$393.4K
$344.3K – $459.0K
NOI $27,540 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$531.0K
$464.6K – $619.5K
NOI $37,171 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
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Business Placement
Demographics for 97302, OR
39,776
Population
17,888
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
95%
High-School Grad
23.5 sq mi
ZIP Area
1,693
Density / Sq Mi
$83,697
Median Household Income
$44,623
Median Earnings
$1,230
Median Rent
$415,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Conference rooms, private offices, and two bathrooms support a range of office configurations.
Where is this office building located?
The property is located at 3655 LIBERTY Rd Salem, OR.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 2,000‑square‑foot office building on a 0.5‑acre lot; Conference rooms, private offices, and 2 bathrooms; CO/MU zoning
