Elevator-Served Multi-Tenant Office
For Sale
Contact for pricing
925 Commercial St SE, Salem, OR 97302
Three-story, elevator-served office building with professionally managed suites and access from Commercial Street and Saginaw Street.
Property Size27,748 SF
Lot Size1.15 Acres
Price / SF$219.84
Days on Market106
Property Features for 925 Commercial St SE
General Information
Standard status
Active
Size
27,748 SF
Lot size
1.15 Acres
Property subtype
OFFICE
Zoning
Mixed-Use I
Site & Location
Neighborhood
Central Area Neighborhood Development Organization (can-Do)
Additional Details
Cap Rate
6.5%
Amenities
elevator
high visibility corridor
Building Details
Stories
3
Tenancy
Multi
Listing Agency:
Hancock Real Estate
(503) 370-2581
Listed By:
Terry Hancock · License #200110013
(503) 371-1234
Source:
Moodyscre
Added: Jul 13
Changed: Oct 25
Last Checked: Oct 24 at 8:14PM
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
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Investment Insights
Based on property information with market context.
This three-story, multi-tenant office building totals 27,748 square feet and is elevator served. The property offers a professionally managed range of suite sizes and configurations designed for professional office use.
The building has ample on-site parking on 1.15 acres and provides access from both Commercial Street and Saginaw Street. The property is described as having a high-visibility corridor and is zoned Mixed-Use I.
As an office investment offering, the property is presented at appraised value and includes a stated 6.5% cap rate.
The building has ample on-site parking on 1.15 acres and provides access from both Commercial Street and Saginaw Street. The property is described as having a high-visibility corridor and is zoned Mixed-Use I.
As an office investment offering, the property is presented at appraised value and includes a stated 6.5% cap rate.
Key Highlights
- Three‑story, elevator‑served 27,748 SF multi‑tenant office building with professionally managed suite configurations
- 6.5% cap rate office investment offered at appraised value; list price $6,100,000
- Zoned Mixed‑Use I
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$382,090
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,641,800
$7.6M
Cap Rate 7%
$5,458,429
$5.5M
Cap Rate 9%
$4,245,444
$4.2M
Market Conditions
NOI Build-Up for 27,748 SF
Gross rent
$599.4K $21.60/SF
− Vacancy
−$89.9K −$3.24/SF
EGI
$509.5K $18.36/SF
− OpEx
−$127.4K −$4.59/SF
NOI
$382.1K $13.77/SF
Area
Salem, OR
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,641,800
Cap Rate 7%
$5,458,429
Cap Rate 9%
$4,245,444
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 authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,543
Businesses Nearby
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Business Placement
Demographics for 97302, OR
39,776
Population
17,888
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
95%
High-School Grad
23.5 sq mi
ZIP Area
1,693
Density / Sq Mi
$83,697
Median Household Income
$44,623
Median Earnings
$1,230
Median Rent
$415,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Three-story, elevator-served office building with professionally managed suites and access from Commercial Street and Saginaw Street.
Where is this office building located?
The property is located at 925 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, elevator‑served 27,748 SF multi‑tenant office building with professionally managed suite configurations; 6.5% cap rate office investment offered at appraised value; list price $6,100,000; Zoned Mixed‑Use I
