1415 Commercial StSalem, OR 97302

Property Details for 1415 Commercial St

Year built

1910

Lot size

0.17 AC

Property size (Sq ft)

2,260 SF

Zone code

CO

Property type

Office buildings

APN

073W27CD08800

APU

073W27CD08800

Description

This beautifully appointed, three-story retail/office space, located in the heart of Salem, offers a unique blend of historic charm and modern functionality. Originally built in 1910, the 3,445 square foot building boasts original hardwood floors and an open design, complemented by refined modern finishes. The main level features an open foyer, open workflow areas, two offices, and a kitchen, perfect for client meetings or company gatherings. Upstairs, you'll find a cozy reception area, a full bathroom with a bathtub, three additional private offices, storage space, and a built-in wet bar. The property sits on a 0.12-acre lot, prominently located on the signalized corner of Commercial and Myers Streets, ensuring high visibility to over 20,000 vehicles daily. A monument sign enhances your business presence. On-site parking accommodates up to six vehicles, and private entrances provide convenience and security. The space is zoned CO and is available for lease as early as March 1st. The minimum divisible space is 1,075 square feet, with a maximum contiguous space of 1,185 square feet. This Class B building presents a rare opportunity to establish your business in a highly desirable, historic location.

• CAP approach

  CAP return

  Valuation

  6%

  $415,191

  6.5%

  $383,253

  7%

  $355,878

• Comparable approach

  Method

  Valuation

  Relative Method

  $355,959

  Geo Method

  $435,231

• Alternative Use

  Use

  Valuation

  Residential

  $475,234

  Hospitality

  $435,312

  Educational

  $362,174

  Medical

  $374,630

  Retail

  $563,382

Location Insight

City

Salem

County

Marion

State

Oregon

Latitude

44.927

Longitude

-123.045

CBSA code

41420

CBSA name

SALEM, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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