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    FOR LEASE
    Office buildings

    695 Commercial St SE, Salem, OR 97301

    10,307 SF 0.44 ac lot Built 1965
    Entity Owned 2-yr Hold Free & Clear
    Property ID
    US71-0603663
    Property summary
    AI-generated overview

    This exceptional two-story office building, constructed in 1968 and extensively renovated in 2021, offers a unique blend of vintage charm and contemporary functionality. Located at 695 Commercial Street, at the corner of Leslie St SE in Marion County, this 10,307 square foot building boasts a prime location just south of the downtown area, offering convenient walkability. The property is zoned for commercial office use and features a diverse tenant mix, including financial, architectural, property management, real estate, and personal service businesses. Two spaces are currently available, ranging from a minimum of 373 square feet to a maximum contiguous space of 1,472 square feet. The building retains some of its original architectural details, creating a sophisticated and stylish atmosphere. Ample parking is provided with a 3:1000 ratio, with additional spaces available for rent at $40 per month. The building's modern updates ensure a comfortable and efficient workspace for tenants. This is an excellent opportunity for businesses seeking a well-located, updated office space with a unique character. Minimum divisible space is 373 square feet.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING
    Year built 1965
    Total area 10,307 SF
    Lot 0.44 ac (19,166 SF)
    Zoning code CO
    APN 073W27BD01900
    UPID US71-0603663
    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
    • Paint and Pinot Training Center
    • Princeton Property Management Property Management Company
    • Edward Jones - Financial Advisor: Max Elvrom, CFP®|AAMS™|CRPC™|CKA® Financial Advisor
    • a n t h r o p o i d General Contractor
    • Tipton's Coins Cards & Jewelry (Bike/Boat/Book/etc) Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $2.16M
    Blend (final) Blend
    $2.16M
    Owner & transaction history
    695 Commercial LLC · 2 yrs held
    695 Commercial LLC
    since 2023
    7 recorded transactions
    2023
    2019
    2008
    $1.2M
    1986
    $300,000
    1969
    1969
    1969
    Zoning & alternative use
    CO · Salem, OR
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Medical building $3.5M +31.3%
    Commercial (general) $2.9M +10.0%
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    More about this property
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