Three-Story Multi-Tenant Office
925-935 Commercial St SE Salem, OR 97302
925-935 Commercial St SE, Salem, OR, 97302
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For Sale
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Three-story, multi-tenant office building with ample on-site parking and access from two streets, zoned Mixed-Use I.
Property Size27,748 SF
Lot Size1.15 Acres
Price / SF$219.84
Days on Market41
Property Features for 925-935 Commercial St SE
General Information
- Standard status
- Active
- Size
- 27,748 SF
- Lot size
- 1.15 Acres
- Property subtype
- Office
Listing agency
Hancock Real Estate
(503) 371-1234
Listed by
Terry Hancock · License #OR 200110013
Source
Crexi
Added: Jun 11 Updated: Jul 21 at 3:25PM Checked: Jul 21 at 3:25PM
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 Hancock Real Estate
Investment Insights
Based on property information with market context.
This three-story, multi-tenant office building offers a professionally managed mix of suite sizes and configurations designed for professional office users. The property totals 27,748 square feet and is presented as an office investment offering at appraised value.
The building sits on 1.15 acres and provides ample on-site parking. Access is available from both Commercial Street and Saginaw Street, and the property is zoned Mixed-Use I.
The offering is structured for tenants and investors seeking a managed, multi-suite office asset with street access from two points and parking on site.
The building sits on 1.15 acres and provides ample on-site parking. Access is available from both Commercial Street and Saginaw Street, and the property is zoned Mixed-Use I.
The offering is structured for tenants and investors seeking a managed, multi-suite office asset with street access from two points and parking on site.
Key Highlights
- Three‑story, multi‑tenant 27,748 SF office building
- Reported 6.5% cap rate and offered at appraised value (per PublicRemarks)
- Professionally managed range of suite sizes and configurations for professional office users
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $599.4k | $21.60 |
| − Vacancy | −$89.9k | −$3.24 |
| EGI | $509.5k | $18.36 |
| − OpEx | −$127.4k | −$4.59 |
| NOI | $382.1k | $13.77 |
27,748 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$5.46M
$4.78M – $6.37M
NOI $382,090 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.37M
$6.45M – $8.60M
NOI $515,713 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Three-story, multi-tenant office building with ample on-site parking and access from two streets, zoned Mixed-Use I.
Where is this office building located?
The property is located at 925-935 Commercial St SE Salem, OR.
What is the asking price?
The asking price for this property is $6,100,000.
What are key features of this property?
This property features: Three‑story, multi‑tenant 27,748 SF office building; Reported 6.5% cap rate and offered at appraised value (per PublicRemarks); Professionally managed range of suite sizes and configurations for professional office users
