Developable Land Near Oregon
For Sale
$1,600,000
210 Capitol St. NE, Salem, OR 97301
Rare opportunity: developable land across from Oregon State Capitol grounds.
Property SizeContact for details
Days on Market206
Property Features for 210 Capitol St. NE
General Information
Standard status
Active
Property subtype
Land
Listing Agency:
Capacity Commercial Group
(503) 569-4449
Listed By:
Nick Williams, CCIM · License #201230204
(503) 569-4449
Source:
Corfac
Added: Jan 26
Changed: Aug 15
Last Checked: Aug 20 at 5:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Capacity Commercial Group
Investment Insights
Based on property information with market context.
This property presents a rare opportunity to acquire developable land situated directly across the street from the Oregon State Capitol grounds. The most promising use for the site appears to be office development; however, multi-family housing, hospitality ventures, and even a parking facility could be viable options and have conditional approval within the current zoning regulations. The office space vacancy rate in the Salem/Keizer area is under 5%, and less than 1% within six blocks of the State Capitol. Given rising market rents and stabilizing construction costs, market conditions seem favorable for office development. Strong demand also exists for housing and hospitality options near state government offices. The property is located one block from Willamette University and four blocks from the Salem Central Business District. It is within walking distance of the Salem Amtrak station and the local hospital. Full environmental studies and work have been conducted on the property, and a conditional "No Further Action" notice from the Department of Environmental Quality is available.
Key Highlights
- Rare developable land opportunity directly across from the Oregon State Capitol.
- High potential for office development due to low vacancy rates (under 1% near Capitol).
- Conditional approval within current zoning for multi‑family, hospitality, or parking facility.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 97301, OR
56,393
Population
21,419
Households
2.6
Avg Household Size
34
Median Age
18%
College-Educated
81%
High-School Grad
11.3 sq mi
ZIP Area
4,991
Density / Sq Mi
$57,497
Median Household Income
$33,220
Median Earnings
$1,197
Median Rent
$310,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Commercial land - Rare opportunity: developable land across from Oregon State Capitol grounds.
Where is this commercial land located?
The property is located at 210 Capitol St. NE Salem, OR.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Rare developable land opportunity directly across from the Oregon State Capitol.; High potential for office development due to low vacancy rates (under 1% near Capitol).; Conditional approval within current zoning for multi‑family, hospitality, or parking facility.
