198 Commercial Street SE

Highlights:

• Annual Tax: $ 87744.6
• General: Smoke Detector
• Flooring: Wall to Wall Carpet
• Lot Description: Corner
• Basement: None
• Sewer: Public
• Cooling: Central A/C
• Roof: Rubber
• Heating Type: Forced Air
• Garage Description: Attached Garage
• Exterior Description: Concrete Block
• Water: City Water

Description:

Presenting one of Salem's most iconic, beautifully renovated office buildings, ideally positioned in the heart of downtown directly across from the Salem Convention Center & the nearly new Holman Hotel. Located just 1 block from the Willamette River, this property sits within the premier Central Salem Core Business District on one of the highest-trafficked corners in the city. The building has undergone over $2 million in recent renovations, blending historic character w/ modern upgrades. It is anchored by A+ core, long-term tenants secured by strong stable leases through 2032 with extension options--100% occupancy provides reliable income and investment security. Additional highlights include excellent parking options, with convenient access to the adjacent parking structure via a connected land bridge, enhancing tenant & visitor accessibility. Offered at a solid 8% cap rate, this is a rare opportunity to acquire a landmark asset in one of Salem's most desirable commercial location

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Listing ID: fe4bc3d6-a3a0-4e6b-ab92-76ad2dd7c7cc