Four-Floor Office and Retail
494 State St Salem, OR 97301
For Sale
Contact for pricing
Four-floor building with ground-floor retail and upper office suites, plus a leased 10,000 SF basement.
Property Size41,290 SF
Price / SF$93.24
Days on Market312
Property Features for 494 State St
General Information
Standard status
Active
Size
41,290 SF
Property subtype
OFFICE
Listing Agency:
Northmarq | Lake Oswego
(503) 887-1233
Listed By:
Michael Kapnick · License #960500191
Source:
Moodyscre
Added: Sep 22, 2025
Changed: Jul 28
Last Checked: Jul 29 at 3:10PM
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 Northmarq | Lake Oswego
Investment Insights
Based on property information with market context.
This four-floor commercial building was built in 1912 and offers a mixed-use layout with ground floor retail and upper floor office suites. The property also includes a 10,000 SF basement that is currently leased to tenants, with the possibility it could be recaptured and modified for alternative uses. The building is currently 78% occupied, and the overall configuration is described as versatile for different office setups, with average suite sizes roughly around 1,000 SF.
Located on a signalized intersection in Downtown Salem with frontage on State Street and High Street, the property benefits from walkable access to nearby dining and amenities. Parking is described as three-hour parking availability, with all-day garage parking available in three garages within walking distance, supporting tenant and visitor access for office and retail uses.
Located on a signalized intersection in Downtown Salem with frontage on State Street and High Street, the property benefits from walkable access to nearby dining and amenities. Parking is described as three-hour parking availability, with all-day garage parking available in three garages within walking distance, supporting tenant and visitor access for office and retail uses.
Key Highlights
- Four‑floor building with ground‑floor retail and upper office suites, plus a leased 10,000 SF basement
- Frontage on State Street and High Street at a signalized intersection in Downtown Salem
- Built in 1912; historic centerpiece of Downtown Salem
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Four-floor building with ground-floor retail and upper office suites, plus a leased 10,000 SF basement.
Where is this office building located?
The property is located at 494 State St Salem, OR.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: Four‑floor building with ground‑floor retail and upper office suites, plus a leased 10,000 SF basement; Frontage on State Street and High Street at a signalized intersection in Downtown Salem; Built in 1912; historic centerpiece of Downtown Salem
