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    1140 Boone SE Rd Salem, OR 97306-1525
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    Property profile & analytics

    1140 Boone SE Rd Salem, OR 97306-1525

    View on Map
    • Retail properties & Spaces
    • 7,860 SF
    • 0.60 lot acres
    Off-Market
    Property ID
    US71-1002582
    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
    $1,395,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • B2 Taphouse parking / Parking Lot & Garage
    • D&O Garbage & Recycling / Waste Management Facility

    Property Details for 1140 Boone SE Rd

    Year built
    1974
    Lot size
    0.60 lot acres
    Property size
    7,860 SF
    Zone code
    IC
    Property type
    Retail properties & Spaces
    APN
    083W15AA00400
    APU
    083W15AA00400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,433,000
      Market price range: $772k - $1.87M
      AI Estimate
      $1,356,000
      Market price range: $722k - $1.87M

    • Alternative Use

      Use
      Estimation
      SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
      $1,260,000
      Current use
      OFFICE BUILDING
      $2,180,000
      Change: +73% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,060,000
      Change: +64% Conversion: Difficult
      RETAIL STORES
      $1,935,000
      Change: +54% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,530,000
      Change: +21% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.032
    Latitude
    44.8826
    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
    $10,685
    $0.00
    $0.00
    $544,430
    -
    $172,500
    $629,170
    $801,670

    Comparable in this City

    • Value Estimation
      $620,000
      2,600 SF

      1080 Boone SE Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,600 SF
      1080 Boone SE Rd, Salem, OR 97306-1526
      View Details
    • Value Estimation by Request
      3,900 SF

      5755-5795 Commercial St

      Individual retail properties • 3,900 SF
      5755-5795 Commercial St, Salem, OR 97306
      View Details
    • Value Estimation by Request
      24.64 Acres

      Kuebler Blvd

      Multifamily properties • 24.64 Acres
      0 Kuebler Blvd, Salem, OR 97306
      View Details
    • Value Estimation by Request
      1,104 SF

      1465 Barnes SE Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,104 SF
      1465 Barnes SE Ave, Salem, OR 97306-1057
      View Details
    • Value Estimation by Request
      960 SF

      5780 Commercial SE St

      NURSERY, GREENHOUSE, FLORIST • 960 SF
      5780 Commercial SE St, Salem, OR 97306-1213
      View Details
    • Value Estimation by Request
      9,290 SF

      5765 Commercial St

      Neighborhood centers • 9,290 SF
      5765 Commercial St, Salem, OR 97306
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,333 SF

      Popeyes Restaurant in Salem, Oregon

      NNN leased Popeyes restaurant on a 1-acre lot.
      5503 Commercial St SE, Salem, OR 97306
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      Salem Warehouse with Parking Lot

      Warehouse with parking lot in prime industrial location.
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      1,329 SF

      Move-in Ready Office Space

      Office space with furniture, parking, and shared amenities.
      5121 Skyline Village Loop S, Salem, OR 97306
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    • Contact for pricing
      6,312 SF

      Salem Flex Space with Bay Doors

      Flex/industrial space featuring bay doors and mezzanine storage.
      5490 Commercial St SE, Salem, OR 97306
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    • $190,000
      0.33 Acres

      Residential Lot in Creekside Estates

      Residential lot with golf course views and community amenities.
      535 Sahalee Dr SE, Salem, OR 97306
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    • Contact for pricing

      Townhome Duplex in Prime Location

      Duplex with garages, yards, and convenient access to I-5.
      5287 Baxter Ct SE, Salem, OR 97306
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    Similar Nearby for Lease

    • $38 SF/Yr

      Commercial Street Pad Site Available

      Freestanding pad site suitable for restaurant, bank, or retail.
      5785 Commercial St, Salem, OR 97306
      View Details
    • Contact for pricing
      1,600 SF

      High-Traffic Retail Property For Sale

      Well-maintained retail property with pylon sign and ample parking.
      5245-5251 Commercial St SE, Salem, OR 97306
      View Details
    • Contact for pricing

      Retail and Restaurant Space Available

      Retail and restaurant spaces available in South Salem development.
      5775 Commercial St SE, Salem, OR 97306
      View Details
    • $26 SF/Yr

      Prime Retail Space on Commercial

      Versatile retail space in high-traffic Salem location.
      5765 Commercial St SE, Salem, OR 97306
      View Details
    • $28 SF/Yr
      1,352 SF

      Retail Space on Commercial Street

      Retail spaces available in 2025 on Commercial Street.
      5757 Commercial St SE, Salem, OR 97306
      View Details
    • $26 SF/Yr
      1,320 SF

      Salem Retail Space For Lease

      Retail space in prime location with high traffic counts.
      5765-5785 Commercial St SE, Salem, OR 97306
      View Details
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    1140 Boone SE Rd
    Salem, OR 97306-1525
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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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