245 Commercial SE St, Salem, OR 97301-3400
This exceptional 7,453 square foot office space is available for lease in downtown Salem, Oregon. Located at the highly visible corner of Commercial Street SE and Ferry Street, this property offers unparalleled access and exposure. Situated across from the Salem Convention Center and the new Holman Hilton Hotel, this location boasts high traffic and visibility. The suite occupies the entire first floor of a two-story building and features ten private offices, a breakroom, a second kitchenette, a storage/server room, a drive-up teller window, and a vault. The space includes two entrances, a large lobby, and ample parking with 21 spaces. The building sits on a 0.66-acre lot and is zoned CB. The total building size is 17,665 square feet, with a minimum divisible space of 7,453 square feet. This is a multi-tenant building in Marion County. The gross lease rate is $2.25 per square foot, with pass-through increases on operating expenses. Please note that this space is currently vacant. Do not disturb existing tenants.
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Elmer Law, PC Law Firm
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Connolly & Malstrom Law Office Law Firm
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Capital Press Publishing House Newspaper & Magazine
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Keller Associates Engineering Firm Engineer
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Tim Beck Loan Service Bank
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
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CB · Salem, ORSalem. Always verify with local authorities before improvements.
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.