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Property profile & analytics
OFF-MARKET
Estimated value
$2,325,000
Office buildings
1124 Cornucopia St Nw Ste 200, Salem, OR 97304-3365
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US71-0898070
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Total area
11,142 SF
Lot
0.84 ac (36,590 SF)
Zoning code
CR
APN
07322-C0-00604
UPID
US71-0898070
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.52M
Comparable Approach
Comparable
$1.90M
Blend (final)
Blend
$2.33M
Owner & transaction history
C And J Land LLC · 2 yrs held
C And J Land LLC
since 2023
7 recorded transactions
Zoning & alternative use
CR · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.8M
+21.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,730,000
6.5%
$2,520,000
7%
$2,340,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,095,000
Current use
MEDICAL BUILDING
$3,765,000
Change: +22% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,920,000
Change: -6% · Conversion: Easy
RETAIL STORES
$2,745,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$2.33M
Range $2.09M – $2.56M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$209 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$30,848
Tax year 2023
Assessed value
$1,636,760
Assessed 2023
Previous assessed
$1,589,090
+3.0% YoY
Effective rate
1.88%
On assessed value
Assessed land
$376,640
Assessed improvement
$1,260,120
Land market value
$842,300
Improvement market value
$2,208,790
Total market value
$3,051,090
Applied tax rate
3,225.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2007
Heating
NONE
Buildings
3
Total area
11,142 SF
Lot
0.84 ac (36,590 SF)
Zoning code
CR
APN
07322-C0-00604
UPID
US71-0898070
Jurisdiction
POLK
Zoning & alternative use
CR · Salem, OR
Zoning CR · permitted uses
CR · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$2.9M
RETAIL STORES
Est. value
$2.7M
OFFICE BUILDING Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Heating
NONE
Buildings
3
Lot
0.84 ac
Current owner
From public records · entity-resolved
C And J Land LLC
Entity
Mailing address
1007 SW BAYLEY ST, NEWPORT, OR 97365-5212
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 26, 2023
—
C And J Land LLC
Gordon A Gredvig
Warranty Deed
$1,050,000 · Oregon Coast Bank
May 22, 2018
$1,910,000
Gordon A Gredvig
Pdc Investments LLC
Warranty Deed
$1,000,000 · Washington Federal NA
May 28, 2008
—
Pdc Investments LLC
—
Deed Of Trust
related
$1,844,028 · Key Bank & Trust
May 3, 2007
—
Pdc Investments LLC
Northwest Prop Specialists INC
Grant Deed
$1,814,028 · Key Bank & Trust
May 2, 2006
$735,980
Northwest Prop Specialists INC
Cline Living Trust
Warranty Deed
$515,000 · Bank Of The Cascades
—
—
Pdc Investments LLC
—
Deed Of Trust
related
$120,000 · Key Bank & Trust
—
—
Pdc Investments LLC
—
Deed Of Trust
related
$1,844,028 · Key Bank & Trust
—
—
Pdc Investments LLC
—
Deed Of Trust
related
$145,000 · Key Bank & Trust
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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