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    120 Liberty St NE Salem, OR 97301
    Property profile & analytics

    120 Liberty St NE, Salem, OR 97301

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    • Investment properties
    • 15,893 SF
    • 0.32 lot acres
    For Lease
    $2 SF/Yr
    View Listing →
    Downtown Salem Office Space For Lease
    $2 SF/Yr
    8,050 SF

    Downtown Salem Office Space

    Trendy, multi-level office space in downtown Salem available December 2024.

    120 Liberty St NE, Salem, OR
    View Listing
    Property ID
    US71-0462635
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ricky's Bubbles &Sweets Shoppe / Specialty Food Shop / Candy Store
    • St. Urban Cellars Wine & Bottle Shop / Specialty Food Shop / Wine and Liquor Store
    • Diversified Financial Benefits / Financial Advisor
    • aocmhp / Medical Clinic
    • Archive Coffee & Bar / Restaurant

    Property Details for 120 Liberty St NE

    Year built
    1916
    Lot size
    0.32 lot acres
    Zone code
    CB
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    073W27AB05200
    APU
    073W27AB05200

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 5, 2021 — Mcgilchrist Roth Buildings LLC David E Steffen Warranty Deed · related —
    Mar 29, 2021 $325,000 David E Steffen Gayle Caldarazzo-doty Grant Deed —
    Aug 5, 2020 — Douglas W Doty Caldarazzo Doty Living Trust Quit Claim Deed · related —
    Oct 22, 2019 — Mcgilchrist Roth Buildings LLC — Deed · related —
    Mar 9, 2018 — Mcgilchrist Roth Buildings LLC — Deed · related —
    Aug 1, 2014 — Mcgilchrist Roth Buildings LLC — Trustees Deed · related $1.4M · Pioneer Tr Bk
    Jun 24, 2013 — Mcgilchrist Roth Buildings LLC — Trustees Deed · related $260k · Pioneer Trust Bank NA
    Jan 31, 2013 $870,000 Mcgilchrist Roth Buildings LLC Bednarz Miriam L Trust Grant Deed $4.2M · Pioneer Trust Bank NA
    Jun 29, 2012 — Bednarz Bernard F Trust 1 Bednarz Bernard F Trust Quit Claim Deed · related —
    Jul 1, 2005 — Bednarz Bernard F Trust Derfler Eugene Trust Grant Deed · related —
    — — Mcgilchrist Roth Buildings LLC — Loan Modification · related —
    — — Bednarz Miriam L Family Trust — Deed Of Trust · related $2.9M · Pioneer Trust Bank NA
    — — Mcgilchrist Roth Buildings LLC — Loan Modification · related —
    — — Mcgilchrist Roth Buildings LLC — Loan Modification · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,583,000
      Market price range: $1.67M - $6.99M
      AI Estimate
      $3,583,000
      Market price range: $1.67M - $6.99M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,500,000
      Current use
      AUTO REPAIR, GARAGE
      $5,675,000
      Change: +26% Conversion: Difficult
      MEDICAL BUILDING
      $5,370,000
      Change: +19% Conversion: Easy
      OFFICE BUILDING
      $4,090,000
      Change: -9% Conversion: Easy
      RETAIL STORES
      $3,915,000
      Change: -13% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.038
    Latitude
    44.9401
    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
    $18,933
    $0.00
    $0.00
    $964,630
    -
    $412,380
    $2,670,660
    $3,083,040

    Comparable in this City

    • Value Estimation by Request

      187 High NE St

      STORE/OFFICE (MIXED USE)
      187 High NE St, Salem, OR 97301-3641
      View Details
    • Value Estimation
      $2,195,000
      20,916 SF

      120 Liberty NE St

      STORE/OFFICE (MIXED USE)
      120 Liberty NE St, Salem, OR 97301-3527
      View Details
    • Value Estimation
      $5,830,000
      18,431 SF

      255 Liberty NE St

      STORE/OFFICE (MIXED USE)
      255 Liberty NE St, Salem, OR 97301-3531
      View Details
    • Value Estimation
      $1,390,000
      11,625 SF

      3085 Portland NE Rd

      STORE/OFFICE (MIXED USE)
      3085 Portland NE Rd, Salem, OR 97301-0127
      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
      View Details
    • Value Estimation
      $1,230,000
      6,912 SF

      370 State St

      STORE/OFFICE (MIXED USE)
      370 State St, Salem, OR 97301-3532
      View Details

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      Two-parcel commercial/industrial portfolio with showroom, office, and warehouse space.
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      Salem's Historic Grand Investment

      Mixed-use building, prime location.
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      4,080 SF

      Turn-Key Multifamily Investment Opportunity

      Eight-unit multifamily property in Southeast Salem, extensively rehabilitated in 2018-2019.
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    Similar Nearby for Lease

    • Contact for pricing

      Versatile Business Park for Lease

      Seven-building business park suitable for various commercial uses.
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      Historic Mixed-Use Property in Salem

      Historic mixed-use property with office, retail, and restaurant spaces.
      181 High St NE, Salem, OR 97301
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    • $21 SF/Yr

      Salem Office Space For Rent

      Office suites available in Salem, Oregon with I-5 visibility.
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      View Details
    • Contact for pricing

      Professional Office Building Near Capitol

      Conveniently located office building near Oregon State Capitol.
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      View Details
    • Contact for pricing

      Downtown Salem Commercial Space Available

      Located in the heart of downtown Salem near amenities.
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      Capitol Tower Office Space Available

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    Salem, OR 97301
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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.

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