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234 High St SE
Salem, OR 97301
The Kenneth A. Holmes Building · Office Property For Sale
Investment Highlights
- 23,411 SF building
- Prime corner location: High St & Ferry St, Downtown Salem CBD
- High-visibility, glass-fronted street presence
- 65-car secure parking garage
- Two blocks from the Salem Convention Center
Executive Summary
A rare opportunity to acquire an iconic downtown Salem office building at one of the city's most visible intersections — High St & Ferry St, in the heart of the Central Business District. The Kenneth A. Holmes Building offers roughly 23,411 SF of office space leased to multiple tenants, plus a 65-car private parking garage — a highly sought-after feature for downtown Salem tenants and a meaningful differentiator from comparable buildings in the area.
With its striking glass curb appeal, secure gated parking, and prime corner location just two blocks from the Salem Convention Center, the property
offers strong tenant appeal and long-term investment stability in a walkable, amenity-rich downtown setting. This is a well-positioned asset for investors seeking a multi-tenant office property with structured parking income potential in one of Salem's most established commercial districts.
With its striking glass curb appeal, secure gated parking, and prime corner location just two blocks from the Salem Convention Center, the property
offers strong tenant appeal and long-term investment stability in a walkable, amenity-rich downtown setting. This is a well-positioned asset for investors seeking a multi-tenant office property with structured parking income potential in one of Salem's most established commercial districts.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
23,411 SF
Building Class
B
Year Built
1964
Price
$3,329,000
Price Per SF
$142.20
Cap Rate
6.20%
NOI
$206,386
Percent Leased
76%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
21,600 SF
Building FAR
0.94
Lot Size
0.57 AC
Opportunity Zone
Yes
Zoning
CBD - Central Business District (CB) Zone
Parking
65 Spaces (3.01 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
Property Taxes
| Parcel Number | 589051 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,247,700 |
Property Taxes
Parcel Number
589051
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,247,700
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