302 State St Salem, OR 97301

OFF-MARKET

Banks

Property ID

US71-0894461

34,256 SF 0.68 ac lot Built 1869

Entity Owned Free & Clear

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The property is a multi-story office building in Salem’s Central Business District, totaling 51,384 square feet. Built in 1869, it was fully remodeled in 1966 with subsequent periodic upgrades and includes three floors plus a fully improved basement. The building sits on a 29,621 square foot (0.68 acre) lot and is served by a surface parking lot with 28 spaces. It is zoned CB (Central Business District) and has a layout configured for office use, with potential for an owner/user or additional leased space depending on occupancy. The building is within walking distance of the State Capital Mall, County Courthouse, Riverfront Park, hotels, restaurants, entertainment venues, and major retail areas, and it is located near State Street and Commercial Street (average daily traffic reported at 46,703).

Property type Banks

Use group FINANCIAL BUILDING

Year built 1869

Total area 34,256 SF

Lot 0.68 ac (29,621 SF)

Zoning code CB

APN 073W27AB07700

UPID US71-0894461

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

Financial Advisor
Loan Service Bank
Bank Loan Service
Loan Service Bank
Financial Advisor

302 State St Salem, OR 97301-3532

Salem metro Census 200 SALEM, OR METROPOLITAN STATISTICAL AREA

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Zoning description

CHAPTER 524. - CB-CENTRAL BUSINESS DISTRICT Sec. 524.001. - Purpose. The purpose of the Central Business District (CB) Zone is to implement the central business district designation of the Salem Area Comprehensive Plan t…

General category COMMERCIAL

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