Elevator-Served Multi-Tenant Office
925 Commercial St SE Salem, OR 97302
For Sale
Contact for pricing
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 Market14
Property Features for 925 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) 370-2581
Listed By:
Terry Hancock · License #200110013
Source:
Moodyscre
Added: Jul 13
Changed: Jul 25
Last Checked: Jul 25 at 3:54PM
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 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 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
Oregon Smile Care ...
Dental Office
Polaris Dental Specialists
Dental Office
Contact Computer Services
Tech Support Center
Litowich Law, PC
Law Firm
Mr. Christopher Killen
Physician
FAQs
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
