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Property profile & analytics
OFF-MARKET
Warehouses
1135 Cordon SE Rd Salem, OR 97317-0885
Individually Owned
4-yr Hold
Free & Clear
Property ID
US71-0447650
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2019
Total area
1,728 SF
Lot
0.29 ac (12,632 SF)
Zoning code
IP
APN
072W32D 02500
UPID
US71-0447650
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
James M Billings · 4 yrs held
James M Billings
since 2021
Last sale
$4,500
5 recorded transactions
Zoning & alternative use
IP · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$815
Tax year 2023
Assessed value
$41,520
Assessed 2023
Previous assessed
$40,320
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$44,380
Improvement market value
$194,130
Total market value
$238,510
Applied tax rate
24,010.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2019
Heating
NONE
Total area
1,728 SF
Lot
0.29 ac (12,632 SF)
Zoning code
IP
APN
072W32D 02500
UPID
US71-0447650
Jurisdiction
MARION
Zoning & alternative use
IP · Salem, OR
Zoning IP · permitted uses
IP · 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.
Building & site characteristics
From public records
Year built
2019
Heating
NONE
Lot
0.29 ac
Current owner
From public records · entity-resolved
James M Billings
Individual
Free & Clear · 4 yrs held
Mailing address
5422 PORTLAND RD NE UNIT #30, SALEM, OR 97305-3495
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2021
—
James M Billings
James M Billings
Intrafamily Transfer
related
—
Mar 14, 2019
$40,000
James M Billings
Stacy,donald G & Louise S
Quit Claim Deed
related
—
Jul 29, 1998
$4,500
Donald G Stacy
Marion County
Quit Claim Deed
related
—
Nov 7, 1996
$4,500
Donald G Stacy
Marion County
Grant Deed
$3,600 · Seller
Jul 30, 1987
$410
Candace M Blair
Unknown
Quit Claim Deed
related
—
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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