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    695 Commercial St Salem, OR 97301

    For Lease
    $21 SF/Yr ($18,449 /Mo)

    Classic office building with modern updates.

    Lot size:
    10,307 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional two-story office building, constructed in 1968 and extensively renovated in 2021, offers a unique blend of vintage charm and contemporary functionality. Located at 695 Commercial Street, at the corner of Leslie St SE in Marion County, this 10,307 square foot building boasts a prime location just south of the downtown area, offering convenient walkability. The property is zoned for commercial office use and features a diverse tenant mix, including financial, architectural, property management, real estate, and personal service businesses. Two spaces are currently available, ranging from a minimum of 373 square feet to a maximum contiguous space of 1,472 square feet. The building retains some of its original architectural details, creating a sophisticated and stylish atmosphere. Ample parking is provided with a 3:1000 ratio, with additional spaces available for rent at $40 per month. The building's modern updates ensure a comfortable and efficient workspace for tenants. This is an excellent opportunity for businesses seeking a well-located, updated office space with a unique character. Minimum divisible space is 373 square feet.

    Property Features for 695 Commercial St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,307 SF
    Total Rate
    18449.53

    Building Details

    Year Built/Renovated
    1968/2021
    Stories
    2

    Unit(s) available at that property

    Space
    007
    Size
    1,771 SF
    Rate per SF
    $22
    Space
    Suite 008
    Size
    373 SF
    Rate per SF
    $21

    HighLights

    • 10,307 SF traditional office building in Marion County.
    • Two‑story building with 33 parking spaces (3:1000 ratio; additional spaces available for $40/month).
    • Multiple suites available, ranging from 373 SF to 1,472 SF contiguous.
    • Renovated in 2021; originally built in 1968.
    • Located at 695 Commercial St SE, near downtown, with Commercial/Leslie St SE corner exposure.
    • Zoned Commercial Office.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Paint and Pinot Painting Lessons Princeton Property Management Property Management Company Edward Jones - Financial ... Financial Consultant a n t h ... Contractor Tipton's Coins Cards ... Coin Dealer

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Hair Salon Building Supply Nail Salon Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.0441634
    Latitude
    44.9347382

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    FAQs

    What type of property is this?
    Office Property / Space - Classic office building with modern updates.
    Where is this office property / space located?
    The property is located at 695 Commercial St Salem, OR.
    What is the lease rate?
    The lease rate is $21-$22 SF/Yr.
    What are key features of this property?
    This property features: 10,307 SF traditional office building in Marion County.; Two-story building with 33 parking spaces (3:1000 ratio; additional spaces available for $40/month).; Multiple suites available, ranging from 373 SF to 1,472 SF contiguous.
    Request Owner's contact information
    695 Commercial 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
    695 Commercial St Salem, OR 97301
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