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$8,825,000 Just Listed

  • For Sale
  • Active
  • Office
  • Updated 13 hours ago
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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.

Full Property Details for 198 Commercial St

General

  • Price: $8,825,000
  • Taxes: $87,744 (2025)
  • Status: Active
  • Type: Office
  • Source: RWMLS
  • MLS ID: 234489425
  • Updated: 6/15/2026
  • Added to Site: 1 day(s) ago

Parking

  • Parking Features: None

Location

  • County: Marion
  • Driving Directions: Corner of Commercial St SE and Ferry across the street form Convention Center.

Community

  • Community Name: 174 - Marion Co: Central Salem

Heating & Cooling

  • Central air: Yes
  • Air Conditioning: Yes
  • Cooling Type: Central Air
  • Heating Type: Forced Air
  • Heating Fuel: Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public Water

Structural Information

  • Property Detached: Yes
  • Stories/Levels: 2
  • Square Feet: 41,472
  • Current Bldg. Use: Office
  • Year Built: 1956
  • Property Condition: Updated/Remodeled

Lot Features

  • Lot Size (Acres): 0.46
  • Lot Size (Sq. Ft.): 20,037
  • Lot Size: 15, 000 to 19, 999 SqFt

Financial Considerations

  • Operating Expenses: $263,832
  • Tax Amount: $87,744.6
  • Tax Year: 2025
  • Terms: Cash, Conventional

Disclosures and Reports

  • Legal Description: SALEM, BLOCK 34, LOT 5 FR 6, ACRES 0.46
  • Property ID: 589249

Listed by Evans, Elder, Brown & Seubert (541) 345-4860, David Holland (541) 521-5203

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Listing agent

— 198 Commercial St —

  • David Holland

    Evans, Elder, Brown & Seubert

    541-345-4860

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NMLS#: 1598647

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NMLS#: 1598647

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Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 198 Commercial St

School District:Salem-Keizer School District 24j
NameGradesDistance
Bush Elementary School
410 14th Street Southeast, Salem, OR 97301
K-50.9 mi
Leslie Middle School
3850 Pringle Road Southeast, Salem, OR 97302
6-82.8 mi
South Salem High School
1910 Church Street Southeast, Salem, OR 97302
9-121.2 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 198 Commercial St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
6/15/2026
Listed
$8,825,000
35.77%
MLS
4/26/2021
Sold
$6,500,000
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 198 Commercial St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$87,745
-11%
$4,474,147
-11%
2024
$99,070
3%
$5,045,750
3%
2023
$96,148
-9%
$4,898,793
-11%
2021
$105,087
-5%
$5,486,770
-3%
2022
$111,049
6%
$5,651,370
6%
2020
$104,334
7%
$5,340,060
3%
2019
$97,441
-3%
$5,184,530
3%
2018
$99,992
11%
$5,033,530
3%
2017
$90,246
5%
$4,886,930
3%
2016
$85,959
-1%
$4,744,600
3%
2015
$86,605
-3%
$4,606,410
-3%
2014
$88,922
2%
$4,744,950
3%
2013
$87,100
—
$4,606,750
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Evans, Elder, Brown & Seubert (541) 345-4860, David Holland (541) 521-5203

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198 Commercial St, Salem, OR 97301 (MLS# 234489425) is a Office property. 198 Commercial St is currently listed for $8,825,000 and was received on June 15, 2026. Want to learn more about 198 Commercial St? Do you have questions about finding other Office real estate for sale in Central Area? You can browse all Central Area real estate or contact a Coldwell Banker agent to request more information.

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