Cottage Courts
$1,600,000
659 Cottage Street Northeast, Salem, OR 97301
9,570 sqft
Building Size
0.45 acres
Lot Area
Details:
Highlights:
- Proven cash flow
- Exceptional parking
- Well maintained
- Downtown fringe location
Description:
Cottage Courts represents a premier opportunity to acquire a highly stable, exceptionally well-maintained, multi-tenant office asset situated on the northern edge of Downtown Salem. Delivering a current NOI of $114,429, this property is uniquely positioned as a resilient cash-flowing investment that balances immediately stable yield with clear, long-term rental upside. The property thrives on a diversified, recession-resistant tenant base. The current tenant roster features an ideal mix of high-demand local services, including medical/naturopathic practitioners, professional event planners, and boutique personal service providers (including massage therapists, salons, and counselors). This diverse ecosystem insulates the asset from industry-specific downturns and ensures high historical occupancy with minimal tenant turnover.
659 Cottage St NE represents a premier, low-risk investment opportunity on the cusp of Downtown Salem. Featuring a stable multi-tenant mix supported by highly affordable, below-market rents, the property offers a resilient revenue stream with substantial runway for income optimization. Its strategic edge-of-downtown location—paired with excellent regional transit access and dedicated tenant parking—makes it a perennially attractive address for local professional tenants. Acquire a stable, highly rentable asset in Salem’s most reliable office submarket.
Documents:
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Location
Gallery
