475 Cottage St NE - Office FOR SALE


Salem, OR 97301
$4,775,000 USD
503-559-2694
475 Cottage St NE, Salem, OR for Sale
$4,775,000 USD
Office - FOR SALE
1/6
null | Request Cap Rate

475 Cottage St NE
Salem, OR 97301


HIGHLIGHTS

  • Fantastic dedicated off-street parking lot
  • Owner-occupied opportunity
  • Potential for sale of partnership interest

OVERVIEW

Unique opportunity to acquire an office building for a user seeking approximately 5,300 SF for owner-occupancy. This two-story, urban office building with off-street parking has additional tenants providing income in support of the asking price. The estimated stabilized value of the building is $5,200,000 once the vacant space is filled with a tenant paying market rents. The asking price of $4,775,000 leaves over $400,000 of consideration for a buyer to carry the asset while sourcing a tenant or having cushion to complete a remodel of the space to suit the specifications of the user.

FOR SALE DETAILS

PRICE

$4,775,000 USD

PRICE/SF

$206 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Center Point

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

74

LAND DETAILS

LAND ACRES

0.88 AC

LAND SF

38,333 SF

ZONING

CBD

APN/PARCEL ID

589454,R89453

ASK ABOUT THIS PROPERTY

Jennifer MartinFirst Commercial Real EstateMore Info
503-559-2694

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Jennifer MartinFirst Commercial Real EstateMore Info
503-559-2694

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.