223 Commercial St NE Salem, OR 97301
Property profile & analytics
223 Commercial St NE Salem, OR 97301
- Investment properties
- 14,850 SF
- 0.17 lot acres
Property ID
US71-0270653
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Sean & Susan, Reed Homes NW / Real Estate Agency
- Alyssa Rife / Hair Salon
- Hailey Sells, Realtor / Real Estate Agency
- Sara Guthrie / Counselor
- Contact Lewis Design, LLC / Marketing & Advertising / Advertising Agency
Property Details for 223 Commercial St NE
- Year built
- 1867
- Lot size
- 0.17 lot acres
- Property size
- 14,850 SF
- Zone code
- CB
- Property type
- Investment properties
- Property subtype
- Retail residential properties
- APN
- 073W22DC08900
- APU
- 073W22DC08900
Description
This beautifully renovated, two-story building in Salem, Oregon's central business district (CBD) offers 14,850 square feet of prime office space across 18 suites. The property, known as the Starkey Building, is located at 223 Commercial St NE, 97301, and features a mix of traditional, executive, and creative office spaces, with a minimum divisible space of 185 square feet. Currently, 2,946 square feet are vacant. The building boasts modern amenities including a high-glass wall shared conference room on the second floor, an elevator, and shared bathrooms. Security features ensure a safe and productive work environment. Tenants will appreciate the common areas with additional seating. A unique offering includes ten fully furnished micro salon suites ranging from 85 to 193 square feet, each featuring sliding glass doors, VLP flooring, and dimmable lighting. Two larger, fully furnished private salon suites with two salon stations and black cabinetry sinks are also available. Landlord provides industry-standard chairs, and internet is included in the full-service lease rates. This exceptional property presents a rare opportunity in Salem's vibrant downtown core. The building's historic charm is complemented by modern updates, creating a sophisticated and functional workspace.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,785,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,705,000
- 6.5%
- $2,495,000
- 7%
- $2,315,000
-
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $4,200,000 Current use
- AUTO REPAIR, GARAGE
- $5,300,000 Change: +26% Conversion: Difficult
- MEDICAL BUILDING
- $5,020,000 Change: +19% Conversion: Easy
- OFFICE BUILDING
- $3,820,000 Change: -9% Conversion: Easy
- RETAIL STORES
- $3,660,000 Change: -13% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Marion
- State
- Oregon
- Longitude
- -123.04
- Latitude
- 44.9419
- CBSA code
- 41420
- CBSA name
- SALEM, OR METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$31,248
$0.00
$0.00
$1,592,087
-
$223,590
$1,873,850
$2,097,440
