447 State St, Salem, OR 97301
This exceptional 8,050-square-foot office space in downtown Salem, Oregon, offers a unique blend of historic charm and modern amenities. Located at 447 State St, this tri-level building boasts soaring ceilings on the main level, creating an expansive and welcoming reception and lobby area. The main level also features four large private offices, a stunning conference room with a brick accent wall, and ample open workspace, easily adaptable to various business needs. A mezzanine level, overlooking the main floor, provides five additional private offices enclosed by glass walls. Both the main and mezzanine levels share common restrooms. The lower level offers a contemporary feel, including six private offices, a spacious conference room, a substantial IT room, a large breakroom, and a stylish lounge area. Two private restrooms are conveniently located on this level as well. Multiple access points throughout the building provide easy access to nearby establishments such as Ritter's and Archive Coffee & Bar. The property sits on a 0.16-acre lot and is zoned CB (Central Business). This prime location in Salem's Central Business District offers unparalleled convenience, with proximity to restaurants, shopping, entertainment, the Marion County Courthouse, and Riverfront Park. The space, totaling 8,050 square feet, is currently vacant and will be available for lease in December 2024. The gross lease rate is $2.30 per square foot, with pass-through increases on operating expenses. The property is suitable for a large business seeking a unique and trendy workspace in a vibrant downtown setting. Please note that the property is currently occupied, and tenants should not be disturbed.
-
Anthem Wealth Strategies - Ameriprise Financial Services, LLC Financial Advisor
-
Derek A Gilbert - Financial Advisor, Ameriprise Financial Services, LLC Financial Advisor
-
Anthem Strategists Accounting Firm Tax Preparation
-
Sub to Garnoosh Restaurant
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.