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Property profile & analytics
OFF-MARKET Estimated value $1,215,000
Manufacturing properties

1215 Wilbur SE St Salem, OR 97302-2832

8,280 SF 0.28 ac lot Built 1959
Individually Owned 8-yr Hold ~ Est. High Equity
Property ID
US71-0571736
Property profile
Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1959
Total area 8,280 SF
Lot 0.28 ac (12,197 SF)
Zoning code IC
APN 073W35BB10000
UPID US71-0571736
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
$1.16M
Blend (final) Blend
$1.22M
Owner & transaction history
Tae Lee · 8 yrs held
Tae Lee
since 2017
4 recorded transactions
2017
$381,494
2017
Price N/A
2009
Price N/A
2001
$460,090
Zoning & alternative use
IC · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Industrial and Employment Zone: EC, IC, IBC, and IP Buildings and accessory structures Min. 5 ft. Type A Vehicle use areas Industrial and Employment Zone: IG Buildings and accessory structures Min 10 ft. Type C Vehicle use areas Limitations and Qualifications (1) Zone-to-zone setbacks are not required abutting an alley. (2) Notwithstanding qualification (1)…

Zone name Industrial Commercial
General category INDUSTRIAL
Zone area 1,285.18 ac
Source code of ordinances
Top alternative use upside
Warehouse, storage $2.0M +35.2%
Commercial (general) $2.0M +34.0%
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