494 State St - Office FOR SALE


Salem, OR 97301
$4,350,000 USD
503-559-9279
494 State St, Salem, OR for Sale
$4,350,000 USD
Office - FOR SALE
1/14
null | 10.21% Cap Rate

494 State St
Salem, OR 97301


HIGHLIGHTS

  • Pro Forma Cap Rate of 10+% • Proforma NOI $444,019
  • In Place Cap Rate of 7.64% - In Place NOI $332,339
  • Proforma Cap and Income based on 95% Occupancy. Current Occupancy is 80%
  • Prime Location on a Signaled Intersection • Versatile Layout for Various Office Configurations
  • In Proximity to a Variety of Amenities and Restaurants • Rich in Historic Character and Charm
  • 34 Separate Leasable Units • Zoned CB - Commercial Business • 43,280 SF Historic Building

OVERVIEW

Own a piece of Salem's history with this impressive 43,280 SF office building. Originally built in 1912, this historic property features 34 separate leasable units, offering ample space for a wide range of office-based businesses. Zoned CB, this property's central location in the heart of Salem enhances its appeal, promising a strategic position for businesses seeking a premier office or retail space. With its rich architectural heritage and functional layout, this property presents an ideal opportunity for office building investors seeking a distinctive and versatile asset in the heart of Salem. With its rich history and vast square footage, The Oregon Building represents a rare and lucrative prospect for investors in the office sector. Don't miss the chance to make your mark in this vibrant and evolving market.

FOR SALE DETAILS

PRICE

$4,350,000 USD

PRICE/SF

$133 USD /SF

CAP RATE

10.21%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oregon Building

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

C

YEAR BUILT

1912

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,197 SF

ZONING

CB,CO

APN/PARCEL ID

R89114

ASK ABOUT THIS PROPERTY

AJ NashTradition Real Estate PartnersMore Info
503-559-9279

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AJ NashTradition Real Estate PartnersMore Info
503-559-9279

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