A 13,270-square-foot retail property located on State Street at a signalized intersection, providing visibility at the street frontage. The property is zoned CB and is situated across from Riverfront Park. The lot is 25,126 square feet. The building includes a private upper-level parking garage. The property is designated within a Qualified Opportunity Zone (QOZ) and is associated with historic and urban renewal program eligibility, including a 20% Historic Tax Credit and potential Urban Renewal Grant Funds up to $699,000.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?

$7k

Tax billed · 2023

Assessed value$349k

Effective rate1.96%

Value estimate

· Nov 2026

$1.27M

$1.14M – $1.40M

Submarket $/SF estimate$1.39M

Realmo valuation models over county records.

Recently sold

What actually traded nearby?

$283/SF

ZIP average, outlier-cleaned · 49 recorded sales of this use type

Observed band · Q1–Q3$105 – $440

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?

CHAPTER 524. - CB-CENTRAL BUSINESS DISTRICT Sec. 524.001. - Purpose. The purpose of the Central Business District (CB) Zone is to impleme...

General categoryCOMMERCIAL

JurisdictionMARION

Location intelligence

Which uses thrive at this corner?

Best fit: Electrical Service

Demand heat for this use is drawn on the map · LocInt grid

Demand index

Electrical Service10.4

HVAC Service10.4

Auto Parts Store8.9

217 State St Salem, OR 97301-3445

County assessor Recorded deeds · 2 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 14 properties nearby

Address Sale price Sold Size

241 Liberty NE, Salem, OR 97301-3531 $9,650,000 Jan 2023 24,242 SF

455 Ct NE, Salem, OR 97301-3639 $2,100,000 Sep 2022 14,600 SF

160 Liberty NE, Salem, OR 97301-3847 $5,650,000 Aug 2021 11,176 SF

223 Commercial NE, Salem, OR 97301-3411 $2,450,000 Jan 2021 14,850 SF

225 Liberty NE, Salem, OR 97301-3531 $639,634 Jun 2019 11,222 SF

174 Commercial NE, Salem, OR 97301-3401 $37,500 Jan 2019 26,178 SF

Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.

Comparable nearby

Value Estimation
$1,350,000

12,840 SF

226 State St

STORE/OFFICE (MIXED USE)

226 State St, Salem, OR 97301

View Details
Value Estimation
$1,865,000

12,508 SF

237 High NE St

STORE/OFFICE (MIXED USE)

237 High NE St, Salem, OR 97301-3643

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Value Estimation
$1,350,000

11,868 SF

315 State St

STORE/OFFICE (MIXED USE)

315 State St, Salem, OR 97301-3533

View Details
Value Estimation
$1,420,000

10,099 SF

263 Commercial SE St

STORE/OFFICE (MIXED USE)

263 Commercial SE St, Salem, OR 97301-3427

View Details
Value Estimation
$1,850,000

8,845 SF

231 Commercial NE St

STORE/OFFICE (MIXED USE)

231 Commercial NE St, Salem, OR 97301-3411

View Details
Value Estimation
$9,105,000

24,242 SF

241 Liberty NE St

STORE/OFFICE (MIXED USE)

241 Liberty NE St, Salem, OR 97301-3531

View Details

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MU-III zoning and prior bar use are relevant considerations when evaluating the property's next commercial use.

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Similar in This City for Lease

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217 State St Salem, OR 97301

Property summary