302 State St, Salem, OR

Listing office Cushman & Wakefield | Portland a***@cushwake.com Show Phone

Listing date Nov 24, 2025

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Overview

This office building, located in Salem's Central Business District, offers a total area of 51,384 square feet. Constructed in 1869 and fully remodeled in 1966 with subsequent periodic upgrades, the property includes three floors, with a fully improved basement. The building is situated on a 29,621 square foot (0.68 acre) lot and features a surface parking lot with 28 spaces. Zoned CB (Central Business District), the property benefits from a solid office market with a 6.8% vacancy rate as of mid-year 2024. A national credit, Fortune 500 company is set to lease back 9,857 square feet for 7 years, with four 5-year options, leaving 41,527 square feet available for an owner/user or lease up. The location provides convenient walkability to the State Capital Mall, County Courthouse, Riverfront Park, hotels, restaurants, entertainment venues, and major retail areas. The average daily traffic count at State Street and Commercial Street is 46,703. The tax valuation for 2024 is $6,544,620.

Suggested Use

Auto Parts Store HVAC Service Car Rental Facility Electrical Service (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Carpet & Flooring Store Fish Market Plumbing Service Wine and Liquor Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Salem

County

Marion

State

Oregon

Longitude

-123.04

Latitude

44.9401

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FAQs

What type of property is this?

Office building - Multi-tenant office building in Salem's Central Business District.

Where is this office building located?

The property is located at 302 State St Salem, OR.

What are key features of this property?

This property features: National Credit, Fortune 500 company leaseback of 9,857 SF for 7 years with four 5‑year options.; 41,527 SF available for Owner/User or Lease Up.; Prime location walkable to State Capital Mall, County Courthouse, Riverfront Park, hotels, restaurants, entertainment, and major retail.