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    109 Ellendale Ave Dallas, OR 97338-1509

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    109 Ellendale Ave Dallas, OR 97338-1509

    View on Map
    • Super regional malls
    • 24,120 SF
    • 2.91 lot acres
    Off-Market
    Property ID
    US71-0931286
    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
    $2,875,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cricket Wireless Authorized Retailer / Mobile Phone Store / Electronics & Wireless Store
    • TNT Fireworks / Discount Store / Party Supply Store

    Property Details for 109 Ellendale Ave

    Year built
    1999
    Lot size
    2.91 lot acres
    Property size
    24,120 SF
    Zone code
    CG
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    07528-CD-02904
    APU
    07528CD02904

    Description

    This exceptional retail property, located at 109 E Ellendale in Dallas, Oregon (zip code 97338), presents a unique investment opportunity. The property encompasses a substantial 24,121 square feet of retail space situated on a 2.91-acre lot in Polk County. The building features a single suite, ideal for a large retailer or a business seeking significant space. Its prime location at the hard signalized intersection of Hwy 99 and Kings Valley Hwy (Hwy 223) ensures high visibility and accessibility, attracting significant foot traffic. The property boasts two convenient points of ingress and egress, enhancing customer convenience. This thriving retail center is already home to a diverse range of established businesses, including O'Reilly Auto Parts, Subway, Pizza Hut, Mira Mar Mexican Restaurant, T-Mobile, and Emurgent Care, creating a synergistic environment and attracting a substantial customer base. The property's strategic location and strong tenant mix offer an unparalleled opportunity for growth and success. This is a rare chance to secure a prominent retail space in a bustling Oregon community. The property is classified as Commercial Retail and Land, with multiple tenancy potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,085,000
      MEDICAL BUILDING
      $2,980,000
      RESTAURANT
      $2,415,000
      AUTO REPAIR, GARAGE
      $2,230,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Polk
    State
    Oregon
    Longitude
    -123.312
    Latitude
    44.9285
    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
    $47,918
    $635,710
    $2,793,800
    $3,429,510
    -
    $663,940
    $3,852,510
    $4,516,450

    Comparable in this City

    • Value Estimation
      $2,735,000
      22,500 SF

      178 Ellendale Ave

      REGIONAL SHOPPING CENTER, MALL • 22,500 SF
      178 Ellendale Ave, Dallas, OR 97338-1408
      View Details
    • Value Estimation
      $3,155,000
      27,626 SF

      160 Ellendale Ave

      REGIONAL SHOPPING CENTER, MALL • 27,626 SF
      160 Ellendale Ave, Dallas, OR 97338-1408
      View Details
    • Value Estimation by Request
      10 SF

      321 Kings Vly Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 10 SF
      321 Kings Vly Hwy, Dallas, OR 97338-9702
      View Details
    • Value Estimation
      $14,945,000
      83,766 SF

      321 Kings Vly Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 83,766 SF
      321 Kings Vly Hwy, Dallas, OR 97338-9702
      View Details
    • Value Estimation by Request
      2,880 SF

      1851 Uglow Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,880 SF
      1851 Uglow Ave, Dallas, OR 97338-9531
      View Details
    • Value Estimation by Request
      10 SF

      Dallas, OR 97338

      RESTAURANT • 10 SF
      Dallas, OR 97338
      View Details

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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Busy Center

      In-line retail space anchored by Safeway, Rite Aid, Dollar Tree.
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      View Details
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    Dallas, OR 97338-1509
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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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