198 Commercial Street SESalem, OR 97301
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Presenting one of Salem's most iconic, beautifully renovated office buildings Offered at a solid 8.6% cap rate! 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. This is a rare opportunity to acquire a landmark asset in one of Salem's most desirable commercial location.
| a week ago | Price changed to $8,215,000 | |
| a week ago | Listing updated with changes from the MLS® | |
| 2 months ago | Status changed to Active | |
| 3 months ago | Listing first seen on site |
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This content last updated on 2026-08-01 03:56 PM PDT. Some properties which appear for sale on this website may subsequently have sold or may no longer be available. Source: Oregon Datashare.
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