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    3155 River Rd Salem, OR 97302
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    3155 River Rd Salem, OR 97302

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    • Retail properties & Spaces
    • 576 SF
    • 1.11 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Terrence Kay P.C. / Law Firm
    • Westcare Management Inc / Business Management Consultant
    • Veterans Care Centers of Oregon / Association / Organization

    Property Details for 3155 River Rd

    Lot size
    1.11 lot acres
    Property size
    576 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.073
    Latitude
    44.9103

    Comparable in this City

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      2,535 SF

      4730 Liberty Rd

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    • Value Estimation by Request
      6,300 SF

      4336 Commercial St

      Restaurants • 6,300 SF
      4336 Commercial St, Salem, OR 97302
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    • Value Estimation by Request
      0.15 Acres

      Salem, OR 97302

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 0.15 Acres
      Salem, OR 97302
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    • Value Estimation by Request

      3989 Commercial St

      Land
      3989 Commercial St, Salem, OR 97302
      View Details
    • Value Estimation
      $1,595,000
      8,995 SF

      1795 12th SE St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 8,995 SF
      1795 12th SE St, Salem, OR 97302-2145
      View Details
    • Value Estimation
      $655,000
      5,712 SF

      1866 13th SE St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 5,712 SF
      1866 13th SE St, Salem, OR 97302-2544
      View Details

    Similar Nearby for Sale

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      4,416 SF

      Redevelopment Opportunity in South Salem

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      Salem Office Space Available

      Office property located in Salem, Oregon.
      2925 River Rd S, Salem, OR 97302
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    • $985,000
      3,228 SF

      Salem Office Building - Liberty Corridor

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    • Contact for pricing

      Class A Office Building Suites

      Two professional office suites with private offices and shared amenities.
      3155 River Rd S, Salem, OR 97302
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    • $719,900
      2,754 SF

      Salem Office Building with Apartment

      Two-story office building with studio apartment in South Salem.
      1705 Commercial St SE, Salem, OR 97302
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    • $1,370,000
      9,170 SF

      Salem Office Building for Sale

      Office building with 45 parking spaces in Salem, Oregon.
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    Similar Nearby for Lease

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      Retail/Restaurant Space for Lease

      Retail and restaurant spaces available for lease.
      2541 Boone Rd, Salem, OR 97302
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    • Contact for pricing
      3,510 SF

      Freestanding Drive-Through Restaurant Opportunity

      Freestanding drive-through restaurant for lease in excellent location.
      1253 23Rd St SE, Salem, OR 97302
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      Freestanding Retail Building with Drive-Thru

      3,612 SF former bank building with high visibility.
      2710 Commercial St SE, Salem, OR 97302
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      Retail/Office Space in High-Traffic Area

      New development with suites suitable for retail or office tenants.
      122 Hrubetz Rd SE, Salem, OR 97302
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    • $34 SF/Yr

      Prime Retail Space on Commercial

      Versatile spaces suitable for retail, restaurant, office, or fitness uses.
      4336-4340 Commercial St SE, Salem, OR 97302
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    3155 River Rd
    Salem, OR 97302
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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