2405 FRONT ST NE, Salem, OR 97301
2405 FRONT ST NE, Salem, OR 97301
2405 FRONT ST NE, Salem, OR 97301
2405 FRONT ST NE, Salem, OR 97301
2405 FRONT ST NE, Salem, OR 97301
2405 FRONT ST NE, Salem, OR 97301
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Matthew Tercek

Matthew Tercek

+1(503) 453-5815
Listed by Good Moves Oregon LLC
$ 2,950,000
Est. payment | /mo

23,558 SqFt

Save
$ 2,950,000
Est. payment | /mo
Save

23,558 SqFt

Key Details

Property Type Commercial

Sub Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 23,558 sqft

Price per Sqft $125

MLS Listing ID 777896544

Year Built 1978

Annual Tax Amount $195

Tax Year 2025

Lot Size 4.000 Acres

Property Sub-Type Commercial

Property Description

Acquire a fully occupied, value-add office investment with riverfront positioning, significant income upside, and excess land in Salem. Located at 2405 Front St NE, the property includes a 23,079 SF elevator-served multi-tenant office building on four parcels totaling approximately 4 acres. Current tenancy is diversified across professional service, healthcare, and nonprofit users.Despite 100% occupancy, the property offers a measurable path to higher income. 2025 annualized NOI of approximately $125,000 grows to approximately $201,000 stabilized NOI based on market rents, supplemental conference-room income, and 5% vacancy assumptions in a 2026 third-party valuation. Less than 14,000 SF is currently represented on the rent roll within the 23,079 SF building, creating additional longer-term upside through incorporation of a common-area load factor as leases roll.The site also offers approximately 1.2 acres of excess land with potential for future development or separate disposition. MU-R and RS zoning, substantial parking, riverfront setting, and proximity to the planned ~$150 million Cannery redevelopment provide additional long-term optionality.The property may appeal to traditional investors seeking in-place income and value-add potential, owner-users considering future occupancy as leases mature, or buyers interested in redevelopment opportunities. Supporting documentation includes BOMA floor plans and a 2026 third-party valuation analysis. Buyer to verify all information, including rentable area, zoning, development potential, and lease terms. Contact listing broker for offering materials or to schedule a tour.

Location

State OR

County Marion

Area _174

Zoning MU-R

Interior

Heating Forced Air

Cooling Central Air

Equipment Furniture, SecuritySystem, SmokeDetector

Exterior

Waterfront Description RiverFront

View River, Seasonal, Trees Woods

Roof Type Flat,Membrane

Garage No

Building

Story 2

Sewer Public Sewer

Water Public Water

Level or Stories 2

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Regional Multiple Listing Service (RMLS)

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2405 FRONT ST NE

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Matthew Tercek
Matthew Tercek

Team Lead / Agent License ID: 201210228 (OR) 23013170 (WA)

+1(503) 453-5815 | matthew@tercekre.com

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