880 Liberty StSalem, OR 97301

Property Details for 880 Liberty St

Year built

1972

Lot size

0.44 AC

Property size (Sq ft)

3,593 SF

Zone code

CR

Property type

Office buildings

APN

073W22DA09300

APU

073W22DA09300

Description

This 3,593 square foot executive office building is ideally situated in Salem, Oregon, just north of the downtown core, adjacent to McMenamins Boone's Treasury. The property, zoned MU-I, offers a fantastic opportunity for owner-occupants or investors. The building boasts a welcoming reception area with a built-in desk, ten private offices each with windows, a sizable conference room, and a generous open workspace perfect for collaboration or additional office space. Twenty on-site parking spaces provide ample convenience, supplemented by a passive income stream generated from an after-hours parking lease agreement with McMenamins. Currently, tenants occupy the space on a month-to-month basis, offering flexibility for the new owner. The vibrant location provides easy access to a variety of amenities, including parks, shops, restaurants, and government buildings, all within close proximity. This property presents a unique blend of prime location, functional office space, and potential for additional revenue, making it an attractive investment opportunity in a thriving area of Salem. The asking price is $845,000.

• CAP approach

  CAP return

  Valuation

  6%

  $660,080

  6.5%

  $609,304

  7%

  $565,783

• Comparable approach

  Method

  Valuation

  Relative Method

  $565,912

  Geo Method

  $691,940

• Alternative Use

  Use

  Valuation

  Residential

  $755,538

  Hospitality

  $692,068

  Educational

  $575,793

  Medical

  $595,595

  Retail

  $895,678

Location Insight

City

Salem

County

Marion

State

Oregon

Latitude

44.948

Longitude

-123.034

CBSA code

41420

CBSA name

SALEM, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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