Developable Land Near Oregon
210 Capitol St. NE, Salem, OR 97301
Rare opportunity: developable land across from Oregon State Capitol grounds.
Type:Land
- Added:
- Jan 26, 2026
- Days on Market:
- 116
- Last Refresh:
- Apr 5 at 8:31 pm
Property Features for 210 Capitol St. NE
General Information
- Standard status
- Active
- Property subtype
- Land
Listing agent Nick Williams, CCIM License #201230204 (503) 400-7851
Listing office SVN Commercial Advisors | Salem (503) 400-7851
Listing date Jan 26, 2026
Source Corfac
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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.
- Environmental studies complete; "No Further Action" notice available from DEQ.
- Located one block from Willamette University and four blocks from Salem's Central Business District.
- Walking distance to Salem Amtrak station and local hospital.
Overview
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.
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Marion
- State
- Oregon
- Longitude
- -123.028
- Latitude
- 44.9388
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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.
