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494 State St
Salem, OR 97301 Downtown Salem

Price Upon Request

Office For Sale  •  41,290 SF

Property Details

  • Property Type Office
  • Total Building Size 41,290 SF
  • Lot Size 0.28 AC
  • Building Class A
  • Year Built 1912
  • Tenancy Multiple
  • Zoning CB
61 Transit Score
90 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

Amenities

  • Bus Line
  • Signage

Public Transportation

Commuter RailDriveWalkDistance
3 min 17 min 0.9 mi