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    360 State St Salem, OR 97301

    Sponsored
    For Lease
    $21 SF/Yr ($11,781 /Mo)

    Historic Salem retail, two spaces available

    Lot size:
    6,732 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional opportunity presents two contiguous retail spaces totaling 6,732 square feet within a beautifully renovated, two-story building at 360 & 370 State Street in the heart of downtown Salem, Oregon. Each space offers unique potential: one at 3,060 square feet and the other at 3,672 square feet, both currently vacant. Built in 1888 and zoned CB, this property boasts a prime location amidst thriving businesses like Wild Pear, Taproot, Manna Bakery, Ritters, and Fork Forty. The complete historic renovation blends modern infrastructure with original historical elements and finishes. The upper level will feature new apartments. The City of Salem's Urban Development Department offers a Capital Improvement Grant for eligible tenant improvements. This is a chance to establish your business in a vibrant, historic setting, benefiting from high visibility and foot traffic in one of Salem's most desirable commercial corridors. The property is located in Marion County, Oregon, with a 97301 zip code.

    Property Features for 360 State St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,732 SF
    Total Rate
    11781

    Building Details

    Year Built
    1888

    Unit(s) available at that property

    Space
    370 State St Availability
    Size
    3,060 SF
    Rate per SF
    $21
    Space
    360 State St Availability
    Size
    3,672 SF
    Rate per SF
    $21

    HighLights

    • Year Built: 1888
    • Asking Rent: $1.75/SF/Month NNN
    • Total Available Space: 6,732 SF
    • 360 State Street Space: 3,672 SF
    • 370 State Street Space: 3,060 SF
    • Zoning: CB
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -123.0396278
    Latitude
    44.9400266

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    FAQs

    What type of property is this?
    Retail property - Historic Salem retail, two spaces available
    Where is this retail property located?
    The property is located at 360 State St Salem, OR.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: Year Built: 1888; Asking Rent: $1.75/SF/Month NNN; Total Available Space: 6,732 SF
    Request Owner's contact information
    360 State 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
    360 State St Salem, OR 97301
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