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    183 High St Salem, OR 97301

    Sponsored
    For Sale
    $1,150,000

    Historic Downtown Salem Office Suite, 6208 SF

    Property size:
    6,208 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 6,208 square foot office condo, located at 183 High St NE in downtown Salem, Oregon, presents a unique investment opportunity. Situated on the second and third floors of a meticulously maintained historic building—once Salem's first hotel—this Class B property offers a blend of modern amenities and charming historical character. The unit, encompassing two levels, features a mix of office spaces, some boasting original exposed brick and historic light halls providing abundant natural light. Amenities include a kitchenette and shared restrooms, with ADA accessibility provided. Currently configured as a multi-tenant space, 1,500 square feet are vacant, ideal for an owner-user. The property is zoned CB and sits on parcel 073W27AB90002. The asking price is $1,150,000, translating to $185.24 per square foot. This income-producing property offers a compelling combination of history, functionality, and potential for future growth in the vibrant Salem market. The building consists of one building with two stories. The lease type is modified.

    Property Features for 183 High St

    General Information

    Property type
    Office space
    Square Feet
    6,208 SF
    Class
    B

    Building Details

    Buildings
    1
    Stories
    2

    HighLights

    • 6,208 square feet on parcel 073W27AB90002
    • $1,150,000 sale price
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Hair Salon Building Supply Nail Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.0372571
    Latitude
    44.9403486

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    FAQs

    What type of property is this?
    Office space - Historic Downtown Salem Office Suite, 6208 SF
    Where is this office space located?
    The property is located at 183 High St Salem, OR.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: 6,208 square feet on parcel 073W27AB90002; $1,150,000 sale price;
    Request Owner's contact information
    183 High St Salem, OR 97301
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    Salem, OR 97301
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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
    183 High St Salem, OR 97301
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