1715 Capitol StSalem, OR 97301

Property Details for 1715 Capitol St

Year built

1925

Lot size

0.11 AC

Property size (Sq ft)

2,337 SF

Zone code

CO

Property type

Office properties

Property subtype

Office buildings

APN

073W23BA06900

APU

073W23BA06900

Description

This exceptional 2,330 square foot office building, located at 1715 Capitol St NE in Salem, Oregon, presents a unique investment opportunity. Built in 1925 and renovated in 2008, this two-story Class B building offers a flexible floor plan ideal for a variety of uses. The open layout on both levels allows for easy customization to create private offices as needed. The property boasts high visibility from its corner location at the intersection of Capitol St NE and Jefferson St NE, providing excellent signage opportunities. Parking is readily available with four off-street spaces, supplemented by ample on-street parking. The building is fully accessible, featuring a handicap-accessible elevator and ADA-compliant restrooms. Previous uses include a small church and a call center, demonstrating its adaptability. The building's electrical service is 200 amp single phase. The zoning is Commercial Office. The property is available for sale on contract, with terms negotiable for qualified buyers with a reasonable down payment. This is a rare chance to acquire a well-maintained, versatile commercial space in a prime Salem location. The property is zoned for commercial office use.

• CAP approach

  CAP return

  Valuation

  6%

  $429,337

  6.5%

  $396,311

  7%

  $368,003

• Comparable approach

  Method

  Valuation

  Relative Method

  $368,087

  Geo Method

  $450,059

• Alternative Use

  Use

  Valuation

  Residential

  $491,425

  Hospitality

  $450,143

  Educational

  $374,514

  Medical

  $387,394

  Retail

  $582,577

Location Insight

City

Salem

County

Marion

State

Oregon

Latitude

44.9535

Longitude

-123.021

CBSA code

41420

CBSA name

SALEM, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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