200 Hawthorne SE Ave Salem, OR 97301-5054
Park 5 Business Center offers exceptional executive office space in Salem, Oregon. This seven-building complex, situated on a 10.88-acre lot at 200 Hawthorne Ave SE (cross streets: I-5, State Street), boasts a total of 103,300 square feet of office space. The property is classified as Class B and features single-story buildings. Currently, there are 38,392 square feet of vacant space available, divisible into units ranging from a minimum of 750 square feet to a maximum contiguous space of 4,965 square feet. The property's Commercial Industrial zoning (IC) allows for a variety of uses, including office, retail, flex, and light industrial. Its central Salem location provides convenient access and ample parking. This is an excellent opportunity for businesses seeking flexible and well-located office space in a thriving Oregon community. The property is located in Marion County, Oregon, zip code 97301. The property is ideal for businesses seeking multiple suites or larger contiguous spaces.
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Industrial and Employment Zone: EC, IC, IBC, and IP Buildings and accessory structures Min. 5 ft. Type A Vehicle use areas Industrial and Employment Zone: IG Buildings and accessory structures Min 10 ft. Type C Vehicle use areas Limitations and Qualifications (1) Zone-to-zone setbacks are not required abutting an alley. (2) Notwithstanding qualification (1)…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
IC · Salem, ORIndustrial and Employment Zone: EC, IC, IBC, and IP Buildings and accessory structures Min. 5 ft. Type A Vehicle use areas Industrial and Employment Zone: IG Buildings and accessory structures Min 10 ft. Type C Vehicle use areas Limitations and Qualifications (1) Zone-to-zone setbacks are not required abutting an alley. (2) Notwithstanding qualification (1) above, zone-to-zone setbacks for buildings and structures are required abutting an alley when the abutting zone across the alley is residential. Vehicle use areas remain under qualification (1), and do not require a zone-to-zone setback abutting an alley when the abutting zone across the alley is residential. (e) Lot coverage; height. Buildings and accessory structures within the ESMU zone shall conform to the lot coverage, height, and building frontage standards set forth in Table 537-5. TABLE 537-5 LOT COVERAGE; HEIGHT Table 537-5: Lot Coverage; Height Requirement Standard Limitations and Qualifications LOT COVERAGE Buildings and Accessory Structures All uses No Max. REAR YARD COVERAGE Buildings All uses No Max. Accessory Structures Accessory to all uses No Max. HEIGHT Buildings All uses Max. 50 ft. Accessory Structures Accessory to single family, two family, three family, four family, and multiple family Max. 15 ft. Accessory to all other uses Max. 50 ft. BUILDING FRONTAGE All uses Min. 50% Applies to development sites along Patterson Street, and along Edgewater Street and Second Street, between Rosemont Avenue and Wallace Road, except that where a development site has frontage on Edgewater Street, Second Street, or Patterson Street and a side street, the minimum building frontage requirement does not apply to the side street frontage. (f) Landscaping. Landscaping within the ESMU zone shall be provided as set forth in this subsection. (1) Setbacks. Required setbacks shall be landscaped. Landscaping shall conform to the standards set forth in SRC
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.