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Listed price in listed location currency (USD).
$10,500,000

000

MLS® 220221006

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Commercial Sale
Size -
Garage 
Taxes $87,745
Days Active 0
Lot Size 
Approx. Age 1956
MLS® Number 220221006

Property Address: 198 Commercial Street Se, Salem, OR, 97301

Average square foot calculated using Size range provided by listing agent.

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 6.53% cap rate, this is a rare opportunity to acquire a landmark asset in one of Salem's most desirable commercial location
MLS® Number220221006
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1956
BasementNone
DrivewayOther, Attached, On Street
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

May 8, 2026List Date
$10,500,000List Price
  • Commute

Commute

Starting Address
Destination Address
198 Commercial Street Se, Salem, OR

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