Mike Wiltshire

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Listing provided courtesy of Evans, Elder, Brown & Seubert- MLS# 234489425MLS Provider

198 COMMERCIAL STSalem, OR 97301

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

198 COMMERCIAL ST Overview

Time on Site:
15 days
Visits:
0

Fully leased 41,472 sf Salem office building in one of kind location across the street from the Convention Center. Building has 3 leases with 95% of the building leased to Marion County Public Defender and State of Oregon Public Defense Fund. Interior of building had significant interior renovation between 2021-2025.

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198 COMMERCIAL ST Facts & Features

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

Details

General

Income/Expenses

  • Existing Lease Type: 5 - 10 Years Remaining,Full Service
  • Gross Income: 1020602.0
  • Operating Expense: 263832.0

Building Information

  • Year Built: 1956

Business Information

  • Current Use: Office

Location/Region

  • Country: US
  • County Or Parish: Marion
  • MLS Area Major: 174 - Marion Co: Central Salem

Tax Information

  • Tax Annual Amount: 87744.6
  • Tax Year: 2025

General Information

  • Inclusions: Building,Land
  • Listing Terms: Cash,Conventional
  • Parcel Number: 589249
  • Property Condition: Updated/Remodeled
  • Property Sub Type: Office
  • Property Type: Commercial Sale
  • Zoning: CBD

Interior

Building Interior

  • Building Area Total: 41472.0

General Information

  • Cooling: Central Air
  • Heating: Forced Air
  • Stories: 2

Exterior

Parking Information

  • Parking Features: None

Lot Information

  • Lot Size Acres: 0.46
  • Lot Size Area: 20037
  • Lot Size Square Feet: 20037.0
  • Water Source: Public Water

General Information

  • Sewer: Public Sewer

198 COMMERCIAL ST 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 Monthly Cost

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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.

198 COMMERCIAL ST Market Data

Based on the last 30 days in this zip code

$419,594
Average List Price
$257
Average Price per Square Foot
62
Properties Sold
70
Average Days on Market
250
Properties for Sale
Calculations provided by Reliance Network

198 COMMERCIAL ST History

Date Event Value Agent
6/15/2026Source: Regional MLS Added to Database
June 15, 2026