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    3155 River Rd Salem, OR 97302

    Sponsored
    For Sale
    $2,250,000

    Class A Office & ADU, $2.25M

    Property size:
    576 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Salem, Oregon property offers a unique investment opportunity encompassing a Class A, 6,540 square foot executive office building and a converted home-to-office accessory dwelling unit (ADU). The main office building, constructed in 2002 and 2004 (with portions dating back to 1950), features two professional suites, each with multiple private offices, reception areas, and open workspaces. Suite 100 boasts an executive boardroom, while Suite 150 includes a private executive restroom. A shared common area of 615 square feet provides a break room and ADA-compliant restrooms. Both suites have gas fireplaces in one of their private offices and separate entrances with glass-encased metal doors. The building is of wood-frame construction with decorative brick veneer and a standing seam metal roof. The ADU, previously used as an Airbnb and office space, includes two bedrooms, 1.5 bathrooms, a full kitchen, a small laundry room, a large central living/work area with a wood-burning fireplace, and ample storage. A separate storage building, slab-on-grade and fully insulated with a metal roof, provides additional space for files and equipment. The 1.11-acre lot is zoned for commercial office use, making this a versatile and attractive investment in a prime Salem location. The property's total square footage ranges from 576 to 6,540 square feet.

    Property Features for 3155 River Rd

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    576 SF
    Class
    A
    Lot Size
    48,352 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Terrence Kay P.C. Law Firm Westcare Management Inc Business Management Consultant Veterans Care Centers ... Association / Organization

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.0728834
    Latitude
    44.910263

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    FAQs

    What type of property is this?
    Office Property / Space - Class A Office & ADU, $2.25M
    Where is this office property / space located?
    The property is located at 3155 River Rd Salem, OR.
    What is the asking price?
    The asking price for this property is $2,250,000.
    Request Owner's contact information
    3155 River Rd Salem, OR 97302
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    Salem, OR 97302
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3155 River Rd Salem, OR 97302
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