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    OFF-MARKET
    Banks

    245 Commercial SE St, Salem, OR 97301-3400

    0.66 ac lot
    Individually Owned 23-yr Hold Absentee Owner Free & Clear
    Property ID
    US71-0971777
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Banks
    Use group FINANCIAL BUILDING
    Lot 0.66 ac (28,750 SF)
    Zoning code CB
    APN 073W27BA02400
    UPID US71-0971777
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Elmer Law, PC Law Firm
    • Connolly & Malstrom Law Office Law Firm
    • Capital Press Publishing House Newspaper & Magazine
    • Keller Associates Engineering Firm Engineer
    • Tim Beck Loan Service Bank
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Blend (final) Blend
    by Request
    Owner & transaction history
    David A Pickering · 23 yrs held
    David A Pickering
    since 2002
    4 recorded transactions
    2002
    1969
    1969
    1969
    Zoning & alternative use
    CB · Salem, OR
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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