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Property profile & analytics
FOR SALE
Office buildings

2965 Ryan Dr Salem, OR 97301

14,235 SF 1.29 ac lot Built 1992
Entity Owned 5-yr Hold ~ Est. High Equity
Property ID
US71-0953750
Property summary
AI-generated overview

This exceptional Class A office building, totaling 14,235 square feet, presents a unique opportunity in central Salem. Strategically located near I-5, off Mission Street, this two-story freestanding building offers unparalleled visibility and accessibility. The property boasts 20 private offices, expansive open work areas, multiple meeting and conference rooms, an IT room, and several break rooms, along with an employee lounge and a private outdoor patio. High-end interior design is evident throughout, complemented by abundant natural light from numerous skylights. The building is fully ADA compliant, includes an elevator, and features restrooms on both floors, with the upper level restrooms including locker rooms and showers. Ample parking is available. The 1.29-acre lot is zoned CR (Commercial Recreation) and offers excellent signage opportunities. Its proximity to I-5, Salem Airport, downtown Salem, shopping, and dining makes it an ideal location for a variety of businesses. The flexible layout allows for easy division into smaller suites, catering to diverse occupancy needs. This is a truly remarkable property with exceptional features and an unbeatable location. The Marion County APN is 528008, and the cross street is Hawthorne Ave NE.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1992
Total area 14,235 SF
Lot 1.29 ac (56,192 SF)
Zoning code CR
APN 073W36BD00400
UPID US71-0953750
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
  • ATRIO Health Plans Insurance Agency
  • Npmic Insurance Inc Insurance Agency
  • WVP Home Health WVP Home Health Home Health Care Service
  • Doctors Co Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$5.32M
Blend (final) Blend
$7.77M
Owner & transaction history
Kerley Commercial LLC · 5 yrs held
Kerley Commercial LLC
since 2020
Last sale
$8.7M
5 recorded transactions
2020
$8.7M
2014
$2.3M
2010
$2.3M
2009
Price N/A
1991
$390,000
Zoning & alternative use
CR · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

The purpose of the Commercial Retail (CR) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards. The CR zone generally allows a wide array of retail sales and office uses.

Zone name Retail Commercial
General category COMMERCIAL
Zone area 453.73 ac
Source Realmo
Top alternative use upside
Restaurant $6.3M +71.3%
Auto repair, garage $5.1M +38.7%
Medical building $4.8M +31.3%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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