Freestanding Office
For Sale
$849,000
875 Idylwood Dr SE, Salem, OR 97302
Includes owner-user space, occupied second-floor offices, and private third-floor offices.
Property Size3,676 SF
Price / SF$230.96
Days on Market55
Property Features for 875 Idylwood Dr SE
General Information
Standard status
Active
Size
3,676 SF
Property subtype
Mixed Use
Building Details
Year Built
1951
Listing Agency:
REALTY ONE GROUP WILLAMETTE VALLEY
Listed By:
KELLY CULVER
(503) 931-2565
Source:
Wisser
Added: Aug 22
Changed: Oct 9
Last Checked: Oct 5 at 10:44PM
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 REALTY ONE GROUP WILLAMETTE VALLEY
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Investment Insights
Based on property information with market context.
This freestanding office property was built in 1951 and provides a three-level commercial configuration. The first floor offers up to 1,500 SF for an owner-user, with reception, four offices or a conference room, break room, and restroom. The second floor is occupied by long-term tenants, while private offices are available on the third floor. Tenant business signage is already in place, and the building received a new roof in 2025.
Access is supported by 16 parking spaces and visibility from South Commercial and Sunnyside streets. The property is located at 875 Idylwood Dr SE in Salem, Oregon, providing a combination of existing occupancy and available office areas within one freestanding building.
Access is supported by 16 parking spaces and visibility from South Commercial and Sunnyside streets. The property is located at 875 Idylwood Dr SE in Salem, Oregon, providing a combination of existing occupancy and available office areas within one freestanding building.
Key Highlights
- Up to 1,500 SF available on the 1st floor for an owner‑user
- First‑floor layout includes reception, 4 offices or conference room, break room, and restroom
- Long‑term tenants occupy the 2nd floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,619
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,012,380
$1.0M
Cap Rate 7%
$723,129
$723.1K
Cap Rate 9%
$562,433
$562.4K
Market Conditions
NOI Build-Up for 3,676 SF
Gross rent
$79.4K $21.60/SF
− Vacancy
−$11.9K −$3.24/SF
EGI
$67.5K $18.36/SF
− OpEx
−$16.9K −$4.59/SF
NOI
$50.6K $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%
$1,012,380
Cap Rate 7%
$723,129
Cap Rate 9%
$562,433
Alternative Uses
Best Use
Office B
$723.1K
$632.7K – $843.7K
NOI $50,619 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$976.0K
$854.0K – $1.14M
NOI $68,321 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Includes owner-user space, occupied second-floor offices, and private third-floor offices.
Where is this office building located?
The property is located at 875 Idylwood Dr SE Salem, OR.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Up to 1,500 SF available on the 1st floor for an owner‑user; First‑floor layout includes reception, 4 offices or conference room, break room, and restroom; Long‑term tenants occupy the 2nd floor
