198 Commercial St SE, Salem, OR 97301 | MLS #840891 | Berkshire Hathaway HomeServices Real Estate Professionals
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Listing provided courtesy of CENTURY 21 NORTH HOMES- MLS# 840891MLS ProviderContact Information: 541-350-0690

198 Commercial St SESalem, OR 97301

Commercial · 41,472 Sq. ft. | 0.46 Acres
$8,825,000 ACTIVE

198 Commercial St SE Overview

Time on Site:
49 days
Visits:
0

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!

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198 Commercial St SE Facts & Features

  • Type Commercial
  • Sq. ft. 41,472
  • Price/Sq.ft. $213
  • Lot 0.46 Acres

Details

General

Building Information

  • Year Built: 1956

Location/Region

  • County Or Parish: Marion
  • MLS Area Major: 20 CENTRAL SALEM

Tax Information

  • Tax Annual Amount: 87745

General Information

  • Property Sub Type: Office
  • Property Type: Commercial

Interior

General Information

  • Foundation Details: Slab
  • Heating: Central AC,Forced Air,Heat Pump,Zonal
  • Living Area: 41472

Exterior

Lot Information

  • Lot Size Acres: 0.46
  • Lot Size Square Feet: 19883
  • Water Source: City,Connected

198 Commercial St SE Neighborhood

Community

97301 (Salem) Demographics

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

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

198 Commercial St SE Monthly Cost

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Greg Bowyer
* 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.

198 Commercial St SE Market Data

Based on the last 30 days in this zip code

$419,594
Average List Price
$257
Average Price per Square Foot
61
Properties Sold
70
Average Days on Market
250
Properties for Sale
Calculations provided by Reliance Network

198 Commercial St SE 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