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494 State St
Salem, OR 97301
Oregon Building · Office Property For Sale
Investment Highlights
- Currently 81% occupied at low rents, providing substantial investment upside in a submarket with less than 5% office vacancy rates
- Strategically located on a signalized intersection in the heart of Downtown Salem, with frontage on State Street and High Street
- Surrounded by neighboring restaurants and amenities
- Priced at just $93/SF
- The premises includes a 10,000 SF basement currently leased to tenants but may be recaptured and modified for alternative uses
- Versatile layout for various office configurations
Property Facts
Property Type
Office
Building Size
41,290 SF
Building Class
A
Year Built
1912
Percent Leased
81%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
10,323 SF
Building FAR
3.34
Lot Size
0.28 AC
Zoning
CB - Commercial Business
Amenities
- Bus Line
- Signage
Property Taxes
| Parcel Number | 589114 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,469,890 |
Property Taxes
Parcel Number
589114
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,469,890
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