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    991 Liberty St SE Salem, OR 97302
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    Property profile & analytics

    991 Liberty St SE Salem, OR 97302

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    • Office buildings
    • 3,228 SF
    • 0.26 lot acres
    For Sale
    $985,000
    View Listing →
    Charming Converted Office in Salem For Sale
    $985,000
    3,228 SF

    Charming Converted Office in Salem

    Well-maintained 1908 house converted into office space.

    991 Liberty St SE, Salem, OR
    View Listing
    Property ID
    US71-0768542
    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.
    Value Estimations
    Cap Rate Potential
    3.9%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Public Affairs Counsel / Marketing & Advertising / Advertising Agency
    • Oregon State Chamber of Commerce / Association / Organization
    • Nelson Research / Advertising Agency
    • Audey B. Robison, LMT / Alternative Medicine Practice / Spa & Massage Center
    • Rushlight Agency / Advertising Agency / Marketing & Advertising

    Property Details for 991 Liberty St SE

    Year built
    1908
    Lot size
    0.26 lot acres
    Property size
    3,228 SF
    Zone code
    CO
    Property type
    Office buildings
    APN
    073W27CA06200
    APU
    073W27CA06200

    Description

    This stunning 1908 building, located at 991 Liberty St SE in Salem, Oregon, presents a unique opportunity for discerning office users. Currently zoned CO, this meticulously maintained property boasts 1,001 to 3,228 square feet of executive office space, perfect for professionals seeking a prestigious address. Situated in the highly desirable Liberty Corridor, the building benefits from excellent visibility and accessibility. Significant improvements enhance its appeal, including a complete roof replacement in 2019 and recent upgrades in 2024 such as new upstairs windows and a newly paved driveway entrance. The interior reflects pride of ownership and is ideally suited for a variety of professional uses, including lawyers, CPAs, engineers, and other office-based businesses. The asking price is $985,000. This property offers a blend of historic charm and modern functionality, making it an exceptional investment in a prime Salem location. The zip code is 97302, and the property is located in Marion County. This is a rare opportunity to acquire a well-maintained, updated executive office building in a highly sought-after area. Don't miss this chance to own a piece of Salem's history while enjoying the benefits of a modern, efficient workspace.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,220,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $790,000
      6.5%
      $730,000
      7%
      $675,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,107,000
      Market price range: $727k - $1.31M
      AI Estimate
      $1,107,000
      Market price range: $727k - $1.31M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,025,000
      Current use
      AUTO REPAIR, GARAGE
      $1,150,000
      Change: +12% Conversion: Difficult
      MEDICAL BUILDING
      $1,090,000
      Change: +6% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.043
    Latitude
    44.9314
    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
    $8,762
    $0.00
    $0.00
    $446,410
    -
    $200,640
    $692,550
    $893,190

    Comparable in this City

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      0.18 Acres

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      OFFICE BUILDING • 0.18 Acres
      Salem, OR 97302
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    • Value Estimation
      $1,235,000
      3,536 SF

      4350 Commercial SE St

      OFFICE BUILDING • 3,536 SF
      4350 Commercial SE St, Salem, OR 97302-3914
      View Details
    • Value Estimation
      $11,300,000
      28,279 SF

      3991 Fairview Industrial SE Dr

      OFFICE BUILDING • 28,279 SF
      3991 Fairview Industrial SE Dr, Salem, OR 97302-1166
      View Details
    • Value Estimation
      $575,000
      2,230 SF

      145 Wilson S St

      OFFICE BUILDING • 2,230 SF
      145 Wilson S St, Salem, OR 97302-4232
      View Details
    • Value Estimation
      $18,035,000
      57,466 SF

      2250 Mcgilchrist SE St

      OFFICE BUILDING (MULTI-STORY) • 57,466 SF
      2250 Mcgilchrist SE St, Salem, OR 97302-1147
      View Details
    • Value Estimation
      $1,900,000
      8,442 SF

      1112 12th SE St

      OFFICE BUILDING • 8,442 SF
      1112 12th SE St, Salem, OR 97302-2811
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,540 SF

      Class A Office Building

      Class A office building with professional office suites available for sale.
      3155 River Rd S, Salem, OR 97302
      View Details
    • $1,370,000
      9,170 SF

      Salem Office Building for Sale

      Office building with 45 parking spaces in Salem, Oregon.
      810-850 Commercial St SE, Salem, OR 97302
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    • Contact for pricing

      Class A Office Building Suites

      Two professional office suites with private offices and shared amenities.
      3155 River Rd S, Salem, OR 97302
      View Details
    • New
      $719,900
      2,754 SF

      Salem Office with Studio Apartment

      Two-story office conversion with studio apartment and parking lot.
      1705 Commercial St SE, Salem, OR 97302
      View Details
    • Contact for pricing
      1,985 SF

      Two-Story Office Building For Sale

      Two-story office building with high visibility and commuter traffic.
      1415 Liberty St SE, Salem, OR 97302
      View Details
    • Contact for pricing
      3,228 SF

      Charming Converted Office in Salem

      Well-maintained 1908 house converted into office space.
      991 Liberty St SE, Salem, OR 97302
      View Details

    Similar Nearby for Lease

    • $1.45 SF/Yr
      2,135 SF

      Remodeled Two-Story Office Building

      Newly remodeled office building with dedicated parking in Salem, Oregon.
      345 Lincoln St S, Salem, OR 97302
      View Details
    • Contact for pricing
      4,404 SF

      Charming Stand-Alone Office Building

      High-visibility office space with ample parking and prominent signage.
      4741 Liberty Rd S, Salem, OR 97302
      View Details
    • Contact for pricing

      Liberty Place Office Space Available

      Up to 7,500 SF available in South Salem.
      3550 Liberty Rd S, Salem, OR 97302
      View Details
    • $1.15 SF/Yr
      5,940 SF

      Office Suites with Warehouse Option

      Office suites available for lease with warehouse option.
      3995 Fairview Industrial Dr SE, Salem, OR 97302
      View Details
    • Contact for pricing
      4,000 SF

      Sierra Building Basement Office Space

      Basement office space in Sierra Building with minimal light.
      1431-1449 Liberty St SE, Salem, OR 97302
      View Details
    View Listing
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    991 Liberty St SE
    Salem, OR 97302
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    991 Liberty St SE, Salem, OR, 97302
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