210 Capitol St. NE

Property feature image
Property gallery image
Property gallery image
Address: 210 Capitol St NE, Salem, OR 97301, USA
Seattle & Northwest + Land/Development
Created date: January 15, 2026
Date last updated: October 2, 2026
Price: $1,600,000Investment Analyzer NEW!
  • Rare opportunity to purchase developable land directly across from the grounds of the Oregon State Capitol
  • The highest and best use appears to be office development but multi-family, hospitality, and even a parking facility could be viable and have conditional approval within the current zoning
  • "No Further Action" notice from the Department of Environmental Quality can be provided

Property Description

The subject property is a rare opportunity to purchase developable land directly across the street from the Oregon State Capitol. The highest and best use appears to be office development but multi-family, hospitality, and even a parking facility could be viable and have conditional approval within the current zoning. The market vacancy for office space in the Salem/Keizer are is under 5% and less than 1% within six blocks of the State Capitol. With market rents on the rise and construction pricing stabilizing the market factors appear good for an office development. There also appears to be strong demand for both housing and hospitality close in this location surrounded by state government offices. Full environmental studies and work have been conducted on the subject property and a conditional No Further Action notice from the Department of Environmental Quality can be provided.
Availabletick-green

Request Information

Broker Details

Nick Williams, CCIM
Nick Williams, CCIM

Capacity Commercial Group 503-400-7851

New call-to-action

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Land/Development
Price: $1,600,000
Lot Size: 0.54 Acres
Opportunity Zone: No
Property Website Click Here
Address: 210 Capitol St. NE, Salem, OR 97301, USA
Provided by:

Investment Analyzer

Step 1Financing Calculation

$
$
%
$
%
$
$

Step 2Gross Rent Analysis

Please enter annual amounts.

$
$
%
$
%
$
%
$
%
$
%
$
%
$
%
$
$

Step 3Cap Rate Calculation

%
$
%

Step 4Final Deal Analysis

$
$
%
%
$
$

Similar Properties in the Area

985 W Valley Hwy E

985 W Valley Hwy E

Pacific, Washington
Seattle & Northwest + Land/Development
Price: $3,000,000
1310 N 16th Ave

1310 N 16th Ave

Yakima, Washington
Seattle & Northwest + Land/Development
Price: $438,431
104 W Washington Ave

104 W Washington Ave

Union Gap, Washington
Seattle & Northwest + Land/Development
Units: 1
Price: $495,000

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up