155 Liberty StSalem, OR 97301

Property Details for 155 Liberty St

Year built

1936

Lot size

0.24 AC

Property size (Sq ft)

46,500 SF

Zone code

CB

Property type

Investment properties

Property subtype

Retail residential properties

APN

073W27AB06100

APU

073W27AB06100

Description

The Salem Arts Building, located at 155 Liberty St NE, offers a unique retail investment opportunity in Salem's vibrant Central Business District (CBD). This six-story, mixed-use building boasts 10,454 square feet of space across 272 suites, with 30 retail spaces currently available, ranging from 137 to 2,800 square feet. Renovated in 2019, the building features a diverse tenant mix including apartments, offices, executive suites, and artist studios. The property sits on a 0.24-acre lot and is conveniently located near Liberty Square Parkade and Chemeketa Parkade, offering ample parking options. Street parking is also available, and there's a paid parking lot at the rear of the building, accessible via Electric Alley. The building includes elevators for easy access to all floors. The zoning is designated as CBD, reflecting its prime downtown location. This property presents a compelling opportunity for investors seeking a diverse portfolio of retail tenants in a thriving urban environment. The building's eclectic character and competitive full-service lease rates make it an attractive option for a variety of businesses. The multiple tenancy structure provides flexibility and potential for strong rental income. This is a rare chance to acquire a well-maintained, centrally located commercial property in a rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $10,592,877

  6.5%

  $9,778,040

  7%

  $9,079,609

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,352,105

  Geo Method

  $13,880,203

• Alternative Use

  Use

  Valuation

  Residential

  $9,778,040

  Hospitality

  $8,956,632

  Educational

  $7,451,812

  Medical

  $7,708,092

  Retail

  $11,591,709

Location Insight

City

Salem

County

Marion

State

Oregon

Latitude

44.9407

Longitude

-123.039

CBSA code

41420

CBSA name

SALEM, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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