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    475 Cottage St Salem, OR 97301

    Sponsored
    For Lease
    $24 SF/Yr

    Downtown Office, 5,266 sq ft available

    Lot size:
    23,202 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A commercial property, Center Point, presents a unique opportunity for businesses seeking prime downtown office space. Located at the corner of Cottage and Marion, this two-story building boasts 23,202 square feet, with 5,266 square feet currently vacant and immediately available for lease. Built in 1960 and extensively renovated in 2019, the building features a shared, beautifully appointed lobby. The available space is located on the main level and offers the flexibility to create a customized layout, accommodating a variety of needs, from executive offices and open work areas to conference rooms and a reception area. The property sits on 0.85 acres and is zoned CB (central business district), providing convenient access to the vibrant downtown area. Ample on-street parking is available, supplemented by a private parking lot for employees and clients. The building includes an elevator for easy access to both floors. Lease rates are negotiable and will be considered based on tenant creditworthiness and lease term length. Tenant improvement allowances may be available. This is an ideal location for businesses seeking a prestigious address and convenient access to downtown amenities.

    Property Features for 475 Cottage St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    23,202 SF
    Class
    A
    Total Rate
    46404

    Building Details

    Year Built/Renovated
    1960/2019
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Available Space
    Size
    5,266 SF
    Rate per SF
    $24

    HighLights

    • Class A, 23,202 SF multi‑tenant retail and office building.
    • 5,266 SF of vacant contiguous space available on the main level.
    • Located in the Central Business District, offering excellent downtown visibility.
    • Building features a shared lobby, on‑street parking, and a private parking lot.
    • Built in 1960, extensively renovated in 2019; includes elevators.
    Property Profile Location Intelligence

    Current Use by Public Records

    Johnson & Ray Investment Real Estate Agency Small Business Lender ... Business Administration Service Sandy L. Traeger Certified Public Accountant Bridges Oregon Non-Profit Organization Grove Mueller & Swank ... Accountant

    Suggested Use

    Restaurant Realty agency Building Supply Law Firm Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.03193742756
    Latitude
    44.942858634307

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    FAQs

    What type of property is this?
    Office Property / Space - Downtown Office, 5,266 sq ft available
    Where is this office property / space located?
    The property is located at 475 Cottage St Salem, OR.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: Class A, 23,202 SF multi-tenant retail and office building.; 5,266 SF of vacant contiguous space available on the main level.; Located in the Central Business District, offering excellent downtown visibility.
    Request Owner's contact information
    475 Cottage 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
    475 Cottage St Salem, OR 97301
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