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    388 State St Salem, OR 97301

    For Lease
    $17 SF/Yr ($10,211 /Mo)

    Prime Salem Office Space: 6 Suites Available

    Lot size:
    7,141 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    Capitol Tower, located at 388 State Street, Salem, Oregon 97301, offers exceptional office space in the heart of the city's Central Business District (CBD). This Class A building, constructed in 1926 and boasting 7,141 total square feet, provides multiple tenancy options ranging from a minimum of 167 square feet to a maximum contiguous space of 6,968 square feet. Currently, 7,131 square feet are vacant, presenting a unique opportunity for businesses of various sizes. The building features one elevator (passenger type) and sits on a 0.11-acre lot, conveniently located at the corner of State and Liberty Streets with direct skybridge access from the Liberty Parkade. Significant capital improvements and upgrades have been recently completed. Tenants benefit from a shared conference room (available for two hours per month at no charge, with hourly rates thereafter), a shared break room with vending machines, and a mail station. The building is zoned for CBD use. This iconic Salem landmark provides a prestigious address and modern amenities. The property is ideal for businesses seeking a blend of historic charm and contemporary functionality. Multiple suite sizes are available to accommodate diverse business needs. Inquire today to explore the available options and secure your space in this desirable location.

    Property Features for 388 State St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    7,141 SF
    Class
    A
    Total Rate
    10211.63

    Building Details

    Year Built
    1926
    Buildings
    1

    Unit(s) available at that property

    Space
    7th Floor | Suite 701
    Size
    248 SF
    Rate per SF
    $26
    Space
    9th Floor | Suite 920-940
    Size
    939 SF
    Rate per SF
    $26
    Space
    10th Floor
    Size
    3,776 SF
    Space
    7th Floor | Suite 700
    Size
    667 SF
    Rate per SF
    $25
    Space
    1ST Floor and Mezzaine
    Size
    6,968 SF
    Rate per SF
    $17
    Space
    5th Floor | Suite 520
    Size
    265 SF
    Rate per SF
    $26

    HighLights

    • Salem's tallest building.
    • Move‑in ready suites available now.
    • Janitorial services included in rent.
    • Shared conference room and break room with vending.
    • On‑site parking available for an additional fee.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kim Chichester | Sensible ... Mortgage Broker fresh elements farms Wholesaler Renew Vitality Testosterone ... Men'S Health Physician Joel M Suckow, ... Psychiatrist Kerry Moyer, MA ... Counselor

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Hair Salon Building Supply Nail Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.0391998
    Latitude
    44.9398304

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Salem Office Space: 6 Suites Available
    Where is this office property / space located?
    The property is located at 388 State St Salem, OR.
    What is the lease rate?
    The lease rate is $0.00-$26 SF/Yr.
    What are key features of this property?
    This property features: Salem's tallest building.; Move-in ready suites available now.; Janitorial services included in rent.
    Request Owner's contact information
    388 State St Salem, OR 97301
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    Salem, OR 97301
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    388 State St Salem, OR 97301
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