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Property profile & analytics
OFF-MARKET
Estimated value
$1,140,000
Showrooms
1160 Vis SE Ave Salem, OR 97302-3257
Individually Owned
31-yr Hold
~
Est. High Equity
Property ID
US71-0494685
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1960
Total area
5,544 SF
Lot
0.4 ac (17,424 SF)
Zoning code
CG
APN
083W03AA00800
UPID
US71-0494685
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
Current use
Occupant on record · Public records
-
C&R Remodeling Hardware & Home Improvement Interior Design
-
SkyLift Roof Riser Hardware Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.14M
Blend (final)
Blend
$1.14M
Owner & transaction history
Lethin,douglas T & Rachel M · 31 yrs held
Lethin,douglas T & Rachel M
since 1995
7 recorded transactions
Zoning & alternative use
CG · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the General Commercial (CG) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
183.30 ac
Source
Realmo
Top alternative use upside
Medical building
$1.9M
+40.5%
Office building
$1.8M
+31.9%
Retail stores
$1.4M
+2.4%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,335,000
Current use
MEDICAL BUILDING
$1,875,000
Change: +40% · Conversion: Easy
OFFICE BUILDING
$1,760,000
Change: +32% · Conversion: Easy
RETAIL STORES
$1,365,000
Change: +2% · Conversion: Easy
WAREHOUSE, STORAGE
$1,345,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$1.14M
Range $1.03M – $1.25M · ±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
$206 / 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
$5,771
Tax year 2023
Assessed value
$294,050
Assessed 2023
Previous assessed
$285,490
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$110,820
Improvement market value
$593,120
Total market value
$703,940
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1960
Heating
NONE
Buildings
3
Stories
1
Total area
5,544 SF
Lot
0.4 ac (17,424 SF)
Zoning code
CG
APN
083W03AA00800
UPID
US71-0494685
Jurisdiction
MARION
Zoning & alternative use
CG · Salem, ORZoning CG · permitted uses
CG · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the General Commercial (CG) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
183.30 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1960
Heating
NONE
Stories
1
Buildings
3
Lot
0.4 ac
Current owner
From public records · entity-resolved
Lethin,douglas T & Rachel M
Individual
Mailing address
1160 VIS AVE SE, SALEM, OR 97302-3257
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1995
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 9, 2020
—
Douglas T Lethin
—
Deed
related
—
May 1, 2017
—
Douglas T Lethin
—
Deed
related
$40,000 · Pioneer Tr Bk
Nov 4, 2016
—
Douglas T Lethin
—
Deed
related
—
Jun 13, 2005
—
Douglas T Lethin
—
Trustees Deed
related
$50,000 · West Coast Bank
Jan 13, 1995
$143,250
Lethin,douglas T & Rachel M
Levin,nathan J
Trustees Deed
—
Jan 13, 1995
$80,000
Levin,nathan J
C A Lantz Construction Co
Trustees Deed
—
Oct 2, 1984
$80,000
C A Lantz Construction Co
Unknown
Grant Deed
—
—
—
Douglas T Lethin
—
Deed Of Trust
related
$75,000 · Pioneer Tr Bk
—
—
Douglas T Lethin
—
Deed Of Trust
related
$100,000 · West Coast Bank
—
—
Douglas T Lethin
—
Loan Modification
related
—
—
—
Douglas T Lethin
—
Deed Of Trust
related
$25,000 · West Coast Bank
—
—
Douglas T Lethin
—
Deed Of Trust
related
$40,000 · Pioneer Tr Bk
—
—
Douglas T Lethin
—
Loan Modification
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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