The first building on this site was the two story wooden Bates Hotel, which burned in the 1878 fire. Later, in 1880, W. R. Love built a three story brick hotel during Salem's mining boom and named it the Salem Hotel. The building's southeast corner housed the W. R. Love Store. This building was destroyed by fire in 1910. After the fire, James H. Butler and George W. Peck built the Butler-Peck Building on the site. First floor occupants included L.D. Vandivort Drug Store, George Addison law office, Sidney Brown clothing store, and a Ben Franklin store. Second floor occupants included George Slawson, DDS, Lloyd Hunt, M.D., M.M. Hart, M.D., Walter Jenkins, Superintendent of Schools, Dent County Farmer Mutual Insurance Company, G.E. Joseph, M.D., Charles W. Felt, DDS, and Dessa May Hester, Chiropractor. The Bank of Salem moved to this location in 1982 and had been there for 28 years in 2010.