Class A Office
For Sale
$4,700,000
680 Hawthorne Avenue Southeast, Salem, OR 97301
Three-level layout includes an elevator, roof terrace, commercial kitchen infrastructure, and on-site parking.
Property Size18,521 SF
Lot Size1.22 Acres
Price / SF$234.04
Days on Market77
Property Features for 680 Hawthorne Avenue Southeast
General Information
Standard status
Active
Size
18,521 SF
Net Rentable
20,082 SF
Class
A
Elevators
Yes
Lot size
1.22 Acres
Property subtype
Office
Site & Location
Neighborhood
North East Salem Community Association (Nesca)
Amenities
commercial kitchen infrastructure
roof terrace
Mill Creek views
three large ponds
paved walking trails
exceptional signage
Building Details
Building Size
18,521 SF
Year Built
2008
Buildings
1
Stories
3
Listing Agency:
Legacy Real Estate Commercial
Listed By:
AJ Nash | Partner · License #OR #201208908
(503) 559-9279
Source:
Traditionrep
Added: Aug 11
Changed: Oct 25
Last Checked: Oct 24 at 7:43PM
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 Legacy Real Estate Commercial
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Investment Insights
Based on property information with market context.
Constructed in 2008, this Class A office property offers three levels, contemporary finishes, an elevator, energy-efficient design, and a roof terrace. The layout accommodates full-building occupancy or separate leasing arrangements, with the first floor capable of division into smaller suites and the upper floors suited to full-floor users. Existing commercial kitchen infrastructure from the former Suite 110 deli space adds flexibility for an on-site café, food-service component, or hybrid office-retail configuration.
The property occupies 1.22 acres with abundant on-site parking and is part of a five-building campus. Shared campus features include views of Mill Creek, three large ponds, paved walking trails, prominent signage, and maintained common areas. The combination of adaptable office space, substantial land area, and campus amenities supports a range of occupancy and leasing configurations.
The property occupies 1.22 acres with abundant on-site parking and is part of a five-building campus. Shared campus features include views of Mill Creek, three large ponds, paved walking trails, prominent signage, and maintained common areas. The combination of adaptable office space, substantial land area, and campus amenities supports a range of occupancy and leasing configurations.
Key Highlights
- Three‑level Class A office building constructed in 2008
- 1.22‑acre site with abundant on‑site parking
- First floor can be divided into smaller office suites
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$276,529
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,530,580
$5.5M
Cap Rate 7%
$3,950,414
$4.0M
Cap Rate 9%
$3,072,544
$3.1M
Market Conditions
NOI Build-Up for 20,082 SF
Gross rent
$433.8K $21.60/SF
− Vacancy
−$65.1K −$3.24/SF
EGI
$368.7K $18.36/SF
− OpEx
−$92.2K −$4.59/SF
NOI
$276.5K $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%
$5,530,580
Cap Rate 7%
$3,950,414
Cap Rate 9%
$3,072,544
Alternative Uses
Best Use
Office B
$3.95M
$3.46M – $4.61M
NOI $276,529 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.33M
$4.67M – $6.22M
NOI $373,236 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
822
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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Three-level layout includes an elevator, roof terrace, commercial kitchen infrastructure, and on-site parking.
Where is this office building located?
The property is located at 680 Hawthorne Avenue Southeast Salem, OR.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: Three‑level Class A office building constructed in 2008; 1.22‑acre site with abundant on‑site parking; First floor can be divided into smaller office suites
