494 State St
Salem, OR 97301

$4,350,000 USD

Office For Sale • 32,730 SF

Property Details

Property Type Office
Total Building Size 32,730 SF
Lot Size 0.28 AC
Building Class C
Year Built 1912
Tenancy Multiple
Zoning CB,CO

61 Transit Score

89 Walk Score

                
                    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