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1515-1535 Liberty St SE
Salem, OR 97302
1515 - 1535 Liberty St SE · Office Property For Sale

Investment Highlights

  • ?8,708 SF total building, two stories, Class B
  • ?26 on-site parking spaces
  • ?Minutes from Salem Hospital; on Salem's Cherriots transit line
  • ?Built 1972; 0.56-acre lot (24,394 SF)
  • ?Configured as a 3,923 SF medical suite and a 4,785 SF professional office suite
  • ?High-visibility Liberty St corridor location, just south of Downtown Sale

Executive Summary

A well-located medical and professional office investment on Salem's established Liberty Street corridor, just south of Downtown Salem and minutes from Salem Hospital.? The property spans approximately 8,708 SF across two levels (Class B, built 1972) on a 0.56-acre lot, with 26 on-site parking spaces — a strong ratio for medical and professional office tenancy in this submarket.?
The building's main floor has historically been configured as two suites — a medical suite of roughly 3,923 SF and a professional office suite of roughly 4,785 SF — offering flexibility for a single-tenant user, a split-lease investment, or repositioning to maximize medical-use demand along this corridor.? The property benefits from proximity to Salem Health and other medical offices, strong traffic counts, direct access to Salem's Cherriots transit line, and central connectivity to downtown Salem, I-5, and West Salem — all factors that support durable tenant demand in this location.?
Positioned along Salem's sought-after Liberty Street corridor, this property sits just south of Downtown Salem's Central Business District and only minutes from Salem Hospital — a location that's long made it a preferred address for medical and professional office users.? The building shares its footprint with established tenants, including a LabCorp lab location, adding built-in foot traffic and name recognition to the address.?
The corridor benefits from strong daily traffic counts and excellent visibility, along with a stop directly on Salem's Cherriots transit line, making the location convenient for both driving and public transit access.? Its central position offers straightforward connectivity to downtown Salem, I-5, and West Salem, putting tenants and their clients within easy reach of the wider Salem area.? An ample on-site parking lot rounds out the practical appeal for a high-visitor-volume medical or professional office use.?

Property Facts

Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
8,708 SF
Building Class
B
Year Built
1972
Price
$1,521,000
Price Per SF
$174.67
Percent Leased
55%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,354 SF
Building FAR
0.36
Lot Size
0.56 AC
Zoning
CO
Parking
26 Spaces (3.14 Spaces per 1,000 SF Leased)

Amenities

  • Bus Line
  • Signage
  • Air Conditioning

Property Taxes

Property Taxes

Parcel Number
579555
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$867,440
  • Listing ID: 41365825

  • Date on Market: 7/20/2026

  • Last Updated:

  • Address: 1515-1535 Liberty St SE, Salem, OR 97302

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