Salem, OR Commercial Real Estate for Lease and Sale

Explore 233 listings of Salem commercial real estate to find the best space for your business.

4720 & 4740 Ridge Drive NE

4740 Ridge Drive NE, Northgate, Salem, OR
Property

Industrial

44,267 SF
Availability

1 Space

31,000 SF
Year Built

1973
For Lease

$0.87/SF/MO
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5.5 Acre Industrial Development Site close to Keizer Station

Indian School Rd NE, Northgate, Salem, OR
Property

Other
For Sale Contact for pricing
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Service Industrial with Yard

3871 Boone Rd SE, Southeast Mill Creek, Salem, OR
Property

Industrial

10,000 SF
Year Built

1972
For Sale

$4,750,000
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475 Cottage Street Northeast

475 Cottage Street Northeast, Central Salem, Salem, OR
Property

Office

23,202 SF
Year Built

1960
For Sale

$4,775,000
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Office Coworking Retail Industrial

Office Retail Industrial Land
2431 Strong Heights Lane SE Lots 9-16

2431 STRONG HEIGHTS LN SE, Morningside, Salem, OR
Property

VacantLand

0.06 Acre
For Sale Contact for pricing
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3515 Del Webb Avenue NE

3515 Del Webb Avenue NE, Northgate, Salem, OR
Property

Industrial

48,327 SF
Availability

1 Space

30,000 SF
Year Built

1997
For Lease

$9.00/SF/YR
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DEVELOPMENT LAND

Turner Rd SE, Southeast Mill Creek, Salem, OR
Property

VacantLand
For Sale

$3,825,000
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216 Commercial Street Northeast
Co.W
216 Commercial Street Northeast, Salem, OR
Services

Open Workspace

Event Space

Meeting Room

Dedicated Desk
Amenities

24/7 security

Beverage services

Business address

Cleaning services

Complimentary coffee & tea

Free water

Heating & A/C

High-speed internet

High-speed wifi

Lockers
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2210-2320 & 2498 Madrona Avenue SE & 2525 Ewald Avenue SE & 3305 25th Street SE

2210 Madrona Avenue SE, Southeast Mill Creek, Salem, OR
Property

Industrial

496,154 SF
Availability

4 Spaces

455,510 SF
Year Built

1961
For Lease Contact for pricing
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McGilchrist & 25th Office

2440 McGilchrist Street SE, Southeast Salem, Salem, OR
Property

Office

1,813 SF
Availability

1 Space

1,813 SF
For Lease

$3,500.00/MO
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Sunnyslope Retail Center

4555 Liberty Rd S, Sunnyslope, Salem, OR
Property

Retail

88,897 SF
Availability

5 Spaces

8,596 SF
Year Built

1981
For Lease

$1.83 - $2.17/SF/MO
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1715 Capitol St NE

1715 Capitol St NE, Grant, Salem, OR
Property

Office

2,330 SF
Availability

2 Spaces

2,330 SF
For Lease

$1.20/SF/YR
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1800 State St

1800 State St, Southeast Salem, Salem, OR
Property

Office

2,745 SF
Year Built

1910
For Sale

$525,000
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Vacant Land

5050 Eastland Ave SE, South Gateway, Salem, OR
Property

VacantLand
For Sale

$1,635,000
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2431 Strong Heights Lane SE Lot 8

2431 STRONG HEIGHTS LN SE, Morningside, Salem, OR
Property

VacantLand

0.14 Acre
For Sale Contact for pricing
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Cypress Center

1420 Lancaster Drive Northeast, East Lancaster, Salem, OR
Property

Retail

24,440 SF
Availability

1 Space

4,200 SF
For Lease

$16.00/SF/YR
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Lancaster Center East

698 Lancaster Drive NE, Four Corners, Salem, OR
Property

Retail

78,196 SF
Availability

1 Space

21,690 SF
Year Built

1962
For Lease Contact for pricing
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Academy Square

922-1128 Lancaster Drive Northeast, East Lancaster, Salem, OR
Property

Retail

11,407 SF
Availability

1 Space

4,400 SF
For Lease

$22.00 - $25.00/SF/YR
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Salem Center

401 Center Street NE, Central Salem, Salem, OR
Property

Retail

71,797 SF
Availability

2 Spaces

30,000 SF
Year Built

1986
For Lease Contact for pricing
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1010 Hawthorne Ave SE

1010 Hawthorne Ave SE, Southeast Salem, Salem, OR
Property

Retail

99,313 SF
Availability

1 Space

99,313 SF
Year Built

1992
For Lease Contact for pricing
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SALEM'S HISTORIC GRAND

181-195 High St NE, Central Salem, Salem, OR
Property

Office

38,450 SF
Availability

4 Spaces

5,431 SF
Year Built

1900
For Lease Contact for pricing
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2363 Hyacinth Street

2363 Hyacinth St NE Salem OR 97301, Northgate, Salem, OR
Property

Industrial

2,500 SF
Availability

1 Space

2,500 SF
For Lease

$0.90/SF/YR
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1415 Commercial St SE

1415 Commercial St SE, South Central Salem, Salem, OR
Property

Office

3,445 SF
Year Built

1910
For Sale

$725,000
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1415 Commercial St SE

1415 Commercial St SE, South Central Salem, Salem, OR
Property

Office

3,445 SF
Availability

3 Spaces

3,445 SF
Year Built

1910
For Lease

$1.75/SF/MO
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Fenced Yard for Lease

1725 Silverton Rd NE, Northgate, Salem, OR
Property

Industrial
Availability

1 Space

90,604 SF
For Lease

$0.08/SF/MO
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Frequently Asked Questions

Commercial real estate is a broad category that includes a high variety of space types designed to meet the needs of various industries of the local economy and their specialized subsectors, as presented in our real estate 101 guide to types of commercial real estate. However, there are three main categories that you are most likely to come across: office, retail, and industrial space.

Modern office space is typically organized over large floor plates bound by high ceilings and large windows for an abundance of natural light and is located in transit-oriented developments with good access to multiple modes of transportation, so as to facilitate employee commute. The Salem commercial real estate market incorporates 1,490,378 square feet of office space across 71 buildings.

Office buildings can also accommodate coworking spaces, which are shared office options that typically cater to the needs of small, startup businesses that require flexible workspaces, a concentration of amenities, and services that can be accessed on an occasional or short-term basis.
Retail space includes shopping malls, department stores, street retail, or specialty stores dedicated to a narrow range of products. Such properties are typically located in high foot-traffic and/or car traffic areas, to facilitate customer access. The Salem commercial real estate market includes 2,066,862 square feet of retail space in a variety of settings.
Industrial property most often serves businesses operating in manufacturing or logistics and generally consists of large open spaces located within good access to roads, railways, freight airports or regional water ports. Industrial space listings can include warehouses, manufacturing plants, distribution centers, flexible industrial space, or even data center facilities. Across the Salem market, there is a total of 13,885,220 square feet of industrial property.

The listing inventory in Salem incorporates commercial real estate for lease and for sale of almost all property types and subtypes. However, you’ll find some categories offer more rental or investment opportunities than others.

The largest share of commercial real estate space for lease in Salem is represented by Industrial space, which accounts for 2,544,755 square feet of available listings. Retail space available in Salem adds up to 804,447 square feet.

Meanwhile, most of the listings of commercial property for sale in Salem are in the Office category.

The price of renting or buying commercial real estate is influenced by a variety of factors, including: the property type (for example, office space is priced higher than other property types in most locations); the condition and asset class rating (property rated class A or above will typically command a higher price than lower grade classifications); the quality or the development potential of the property location; whether or not there is high demand for the type of commercial asset in question; and what the state of supply is relative to demand.

The average rent for commercial real estate space listed for lease in Salem is $21.64 per square foot. However, this value does not offer enough perspective on its own, as you will find significant variation in prices across property types, property classes, and location, as well as other impacting factors. For instance, rent per square foot of office space in Salem can vary greatly depending on the rating of the property from Class A to Class C, as well as across the city depending on the location of the asset. What’s more, each commercial property type makes its own rent market: while the average rent for office space rested at $21.75 per square foot, industrial space in Salem saw average rents of $12.82 per square foot.

Whether you are looking for commercial real estate for lease or commercial property for sale, the best choice of location depends on the factors that are most relevant to your business strategy. A good thing to look for at the start, however, is the areas of the city that have the highest concentration of your preferred type of property, as these areas are generally well connected to the amenities and points of interest that are most relevant to each property type.

As such, there are several areas that you could consider to be the best location for commercial real estate in Salem, depending on the property type you are interested in. The highest concentration of commercial space listings of any kind in Salem is in the Central Salem neighborhood. But if we look at each commercial property type, we find that for office space, the best location is the Central Salem area.

Meanwhile, retail space opportunities are most abundant in the Central Salem submarket. Alternatively, if you are looking for warehouse or other industrial space, consider looking at listings in Northgate.

Select your preferred property type from the search filters menu at the top of the search page and then navigate the interactive map for a better view of commercial real estate availability in the locations most suited to your needs.

Regardless of whether buying or leasing commercial space is a new experience for you, there are significant benefits to working with a commercial real estate broker. In addition to saving you time and money, an experienced broker will contribute specialist knowledge of the local market, the property type you need representation for, and will handle negotiations on your behalf in your best interest.

To start, it is important for you to have a good understanding of what kind of broker you need. For instance, there are differences between a tenant broker and a listing broker. Also important at the start is to have a clear idea of what kind of space (or tenant) you are looking for and what (if any) particular needs and requirements you might have. And, while it is good to get a referral, you should interview several brokers to better gauge who you feel would best represent your interests.

CommercialCafe hosts listings from some of the most trusted commercial real estate brokerages in the country. Use the contact form available on each listing page or the contact details for the property representatives to reach out and start your search!

The profitability of a commercial real estate investment depends on a multitude of factors working together. These factors include the quality of the asset itself — which itself includes aspects such as location, property class, amenities, and the quality of the property management — to the local market conditions, the state of the local economy, the demand for that particular type of commercial property, and of course the costs of owning and maintaining it relative to what leasing rate or sale price you get from the property. Asking rents in the city went as high as $45 per square foot. In particular, the property type commanding the highest lease rates in Salem was Retail space.

Conversely, the highest sale price last year was $7,540,000 that is located at 3414 Cherry Avenue NE.

The average size of a commercial property in Salem depends greatly on the property type and the location — geographical possibilities and zoning allowances have significant influence on how big developers can build. While there are outliers that break height or volume records in the city, we can look at some average sizes by property use:

In Salem, the average size of an office property is 28,662 square feet.
Retail properties here incorporate an average of 38,998 square feet.
Industrial space in Salem is in buildings that are, on average 301,853 square feet in size.

Salem, OR Currently Available Listings

Commercial Space for Lease Breakdown

Commercial real estate listings for rent in Salem currently add up to 6,451,903 square feet. The market offers 58 active office listing(s), which amount to 464,744 square feet and account for 33% of commercial spaces on the market. Local retail availability includes 805,534 square feet across 63 retail space(s). Industrial space for rent opportunities in Salem amount to 2,327,508 square feet across a total of 39 warehouse and other industrial listing(s).

Property Type	Count of Listings	Total SF
Office	58	464,744
Retail	63	805,534
Industrial	39	2,327,508
Other	15	2,854,117

Commercial Space for Sale Breakdown

What’s more, if you are interested in making an investment in the local market, you can also find commercial real estate for sale in Salem, OR. Currently, there is 2,140,287 square feet of commercial property for sale here , which includes 13 office building(s) for sale , 10 retail investment opportunity listing(s) , and 11 listing(s) of industrial real estate property for sale .

Property Type	Count of Listings	Total SF
Office	13	175,132
Retail	10	146,850
Industrial	11	1,444,945
Other	37	373,360

Salem, OR Commercial Real Estate for Lease and Sale

4720 & 4740 Ridge Drive NE

5.5 Acre Industrial Development Site close to Keizer Station

Service Industrial with Yard

475 Cottage Street Northeast

2431 Strong Heights Lane SE Lots 9-16

3515 Del Webb Avenue NE

DEVELOPMENT LAND

216 Commercial Street Northeast

2210-2320 & 2498 Madrona Avenue SE & 2525 Ewald Avenue SE & 3305 25th Street SE

McGilchrist & 25th Office

Sunnyslope Retail Center

1715 Capitol St NE

1800 State St

Vacant Land

2431 Strong Heights Lane SE Lot 8

Cypress Center

Lancaster Center East

Academy Square

Salem Center

1010 Hawthorne Ave SE

SALEM'S HISTORIC GRAND

2363 Hyacinth Street

1415 Commercial St SE

1415 Commercial St SE

Fenced Yard for Lease

Frequently Asked Questions

Salem, OR Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

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Salem, OR Commercial Real Estate for Lease and Sale

Frequently Asked Questions

What are the different types of commercial real estate?

What types of commercial real estate are available in Salem, OR?

What factors affect the price of commercial real estate in Salem, OR?

What is the average rent for commercial space in Salem, OR?

What are the best areas for commercial real estate in Salem, OR?

How do I find a good commercial real estate broker?

What is the most profitable commercial real estate?

What is the average size of a commercial property in Salem, OR?

Salem, OR Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

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Popular Retail Searches

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About us