1415 Commercial SE St Salem, OR 97302-4307
- Office buildings
- 2,260 SF
- 0.17 lot acres
Oct 01, 2021
Current Use by Public Records
- Law Office of Jon Weiner / Criminal Justice Attorney / Law Firm
- Harmon Johnson LLC / Civil Law Attorney
- Oak Harbor Lines / Park
Property Details for 1415 Commercial SE St
- Year built
- 1910
- Lot size
- 0.17 lot acres
- Property size
- 2,260 SF
- Zone code
- CO
- Property type
- Office buildings
- APN
- 073W27CD08800
- APU
- 073W27CD08800
Description
This beautifully appointed, three-story retail/office space, located in the heart of Salem, offers a unique blend of historic charm and modern functionality. Originally built in 1910, the 3,445 square foot building boasts original hardwood floors and an open design, complemented by refined modern finishes. The main level features an open foyer, open workflow areas, two offices, and a kitchen, perfect for client meetings or company gatherings. Upstairs, you'll find a cozy reception area, a full bathroom with a bathtub, three additional private offices, storage space, and a built-in wet bar. The property sits on a 0.12-acre lot, prominently located on the signalized corner of Commercial and Myers Streets, ensuring high visibility to over 20,000 vehicles daily. A monument sign enhances your business presence. On-site parking accommodates up to six vehicles, and private entrances provide convenience and security. The space is zoned CO and is available for lease as early as March 1st. The minimum divisible space is 1,075 square feet, with a maximum contiguous space of 1,185 square feet. This Class B building presents a rare opportunity to establish your business in a highly desirable, historic location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $790,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $555,000
- 6.5%
- $510,000
- 7%
- $475,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $860,000
- AI Estimate
- $860,000
Market price range: $509k - $917kMarket price range: $509k - $917k -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $715,000 Current use
- AUTO REPAIR, GARAGE
- $805,000 Change: +12% Conversion: Difficult
- MEDICAL BUILDING
- $765,000 Change: +6% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Marion
- State
- Oregon
- Longitude
- -123.045
- Latitude
- 44.927
- CBSA code
- 41420
- CBSA name
- SALEM, OR METROPOLITAN STATISTICAL AREA