388 State St Salem, OR 97301
Property profile & analytics
388 State St Salem, OR 97301
- Office buildings
- 46,206 SF
- 0.11 lot acres
Property ID
US71-0377168
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Kim Chichester | Sensible Mortgage, LLC / Loan Service / Bank
- fresh elements farms / Big Box & Wholesale Store
- Renew Vitality Testosterone Clinic of Salem / Physician
- Joel M Suckow, MD-LLC / Physician
- Kerry Moyer, MA LPC / Counselor
Property Details for 388 State St
- Year built
- 1926
- Lot size
- 0.11 lot acres
- Property size
- 46,206 SF
- Zone code
- CB
- Property type
- Office buildings
- APN
- 073W27AB07200
- APU
- 073W27AB07200
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $7,499,000
- AI Estimate
- $7,499,000
Market price range: $6.90M - $17.3MMarket price range: $6.90M - $17.3M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $11,895,000 Current use
- RETAIL STORES
- $11,380,000 Change: -4% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Marion
- State
- Oregon
- Longitude
- -123.039
- Latitude
- 44.9398
- CBSA code
- 41420
- CBSA name
- SALEM, OR METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$68,042
$0.00
$0.00
$3,466,764
-
$138,180
$6,080,480
$6,218,660
