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Listing provided courtesy of CENTURY 21 NORTH HOMESMLS# 840891MLS ProviderContact Information: 541-350-0690
  • 49 days on site
  • 0 views

Presenting one of Salem's most iconic, beautifully renovated office buildings, ideally positioned in the heart of Salem within the Central Core Business District on one of the highest-trafficked corners in the city. The building features 100% occupancy, Attractive 8% CAP Rate and over $2 million in recent renovations, blending historic character with modern upgrades. Anchored by A+ long term State of Oregon tenants, this is a rare opportunity to acquire a stable landmark asset in a prime Salem location!

Source: Willamette Valley MLS, MLS#: 840891

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  • Property Type
    Commercial Sale
  • Lot
    0.46 acres

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  • Median Age
    33
  • Population Density
    4,886
  • College Educated
    25%
  • Estimated Median Income
    $45,959
  • Estimated Total Home Owners
    8,297
  • Estimated Total Renters
    11,013
  • Owner / Renter Divide
    43% / 57%
  • Estimated Average Household Size
    3
  • Total Population
    57,194
  • Community data courtesy of LiveBy, Inc.

Owning this Home

$
$ %
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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 198 Commercial St SE

Schools


School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date Event Value Agent
6/12/2026Source: Willamette Valley MLS Price Reduction
$8,825,000 -16.0%
5/11/2026Source: Willamette Valley MLS Added to Database
May 11, 2026
11/30/2023Source: Willamette Valley MLS - Sold Data Added to Database
November 30, 2023