659-695 Cottage St NE - Office FOR SALE


Salem, OR 97301- Downtown Salem
$1,600,000 USD
503-588-4146
659-695 Cottage St NE, Salem, OR for Sale
$1,600,000 USD
Office - FOR SALE
1/5
null | 7.15% Cap Rate

659-695 Cottage St NE
Salem, OR 97301
Downtown Salem


HIGHLIGHTS

  • Proven cash flow
  • Exceptional parking
  • Well maintained
  • Downtown fringe location

OVERVIEW

Cottage Courts represents a premier opportunity to acquire a highly stable, exceptionally well-maintained, multi-tenant office asset situated on the northern edge of Downtown Salem. Delivering a current NOI of $114,429, this property is uniquely positioned as a resilient cash-flowing investment that balances immediately stable yield with clear, long-term rental upside. The property thrives on a diversified, recession-resistant tenant base. The current tenant roster features an ideal mix of high-demand local services, including medical/naturopathic practitioners, professional event planners, and boutique personal service providers (including massage therapists, salons, and counselors). This diverse ecosystem insulates the asset from industry-specific downturns and ensures high historical occupancy with minimal tenant turnover.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$167 USD /SF

CAP RATE

7.15%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cottage Courts

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1957

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.45 AC

LAND SF

19,602 SF

ZONING

MU-1

APN/PARCEL ID

589432

ASK ABOUT THIS PROPERTY

Curt Arthur, SIORCapacity Commercial Group LLCMore Info
503-588-4146

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Curt Arthur, SIORCapacity Commercial Group LLCMore Info
503-588-4146

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.