210 Capitol St NE Salem, OR 97301
Rare opportunity: developable land across from Oregon State Capitol grounds.
Lot size:
0.54 AcresProperty Features for 210 Capitol St NE
General Information
- Lot size
- 0.54 Acres
Source:
Corfac
Listing Agent: Nick Williams, CCIM
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Developable Land Near Oregon Capitol
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.
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Marion
- State
- Oregon
- Longitude
- -123.0279294
- Latitude
- 44.9388183
Nearby Similar for Sale
FAQs
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.