4600 25Th AveSalem, OR 97301

Property Details for 4600 25Th Ave

Year built

1957

Lot size

24.45 AC

Property size (Sq ft)

236,632 SF

Zone code

CO

Property type

Office buildings

APN

073W01D 01800

APU

073W01D01800

Description

This Class A, 233,358 square foot office building, located in Salem's desirable submarket, presents a unique investment opportunity. Originally built in 1957 and extensively renovated in 2007 (with a major upgrade in 2005), this single-story structure boasts a prime location with high visibility from I-5 and ample parking. The property sits on 24.45 acres and features a modern interior with a great room, updated corridors, skylights, and upgraded HVAC systems. Currently, two prominent suites are available for immediate occupancy: a 5,390 square foot suite and a larger 26,826 square foot suite (which is divisible). Full-service rents start at $1.75 per square foot, with attractive tenant improvement packages available for qualified tenants. The building is professionally managed with on-site engineers ensuring seamless operations. The property is zoned CO and has a Marion County APN of R244874. This exceptional property offers a blend of classic architecture and modern amenities, making it an ideal location for businesses seeking a prestigious and functional workspace in Salem, Oregon. The building's history as the original Northwest Regional Center for State Farm Mutual Insurance speaks to its quality and enduring appeal. Don't miss this chance to secure a prominent space in a highly sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $43,472,312

  6.5%

  $40,128,288

  7%

  $37,261,984

• Comparable approach

  Method

  Valuation

  Relative Method

  $37,270,500

  Geo Method

  $45,570,592

• Alternative Use

  Use

  Valuation

  Residential

  $49,759,080

  Hospitality

  $45,579,048

  Educational

  $37,921,232

  Medical

  $39,225,404

  Retail

  $58,988,584

Location Insight

City

Salem

County

Marion

State

Oregon

Latitude

44.9865

Longitude

-122.997

CBSA code

41420

CBSA name

SALEM, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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