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Property profile & analytics
OFF-MARKET
Estimated value
$2,470,000
Medical Office Space
1234 Commercial SE St, Salem, OR 97302-4204
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US71-0334453
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1957
Total area
9,215 SF
Lot
0.56 ac (24,394 SF)
Zoning code
CR
APN
073W27CD06000
UPID
US71-0334453
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
-
Dr. Elana Fedor, MD Physician
-
Dr. Cliffton Bong Physician
-
Shejuti Guha Medical Clinic
-
Thomas Kuzma Pharmacy
-
Dr. Latha Radhakrishnan Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.90M
Comparable Approach
Comparable
$3.11M
Blend (final)
Blend
$2.47M
Owner & transaction history
Marion County · 3 yrs held
Marion County
since 2022
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
CR · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.1M
+30.4%
Auto repair, garage
$3.3M
+5.6%
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%
$2,055,000
6.5%
$1,900,000
7%
$1,765,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,115,000
Current use
RESTAURANT
$4,065,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,290,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$2,925,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$2.47M
Range $2.22M – $2.72M · ±10% · vs last sale $2.40M (Sep 7 2022)
Last sale anchor
$2.40M
Sep 7 2022
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
$268 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$26,748
Tax year 2021
Previous assessed
$1,401,270
Land market value
$303,750
Improvement market value
$1,162,380
Total market value
$1,466,130
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
1957
Heating
NONE
Stories
1
Total area
9,215 SF
Lot
0.56 ac (24,394 SF)
Zoning code
CR
APN
073W27CD06000
UPID
US71-0334453
Jurisdiction
MARION
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
MEDICAL BUILDING Current
Est. value
$3.1M
RESTAURANT
Est. value
$4.1M
AUTO REPAIR, GARAGE
Est. value
$3.3M
OFFICE BUILDING
Est. value
$2.9M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1957
Heating
NONE
Stories
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Marion County
Entity
Mailing address
PO BOX 14500, SALEM, OR 97309-5036
Ownership since
2022
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
Sep 7, 2022
$2,400,000
Marion County
Timothy L Hensley
Warranty Deed
—
Jun 25, 2009
—
Hensley Living Trust
Capital City Investors
Grant Deed
related
—
Jun 24, 2009
—
Timothy L Hensley
Hensley Living Trust
Deed Of Trust
related
$1,383,185 · Willamette Valley Bank
Aug 26, 2008
—
Hensley Living Trust
Hensley,timothy L & Karen L
Quit Claim Deed
related
—
May 4, 2004
$1,200,000
Capital City Investors
Heritage Fir LLC
Grant Deed
related
$1,180,000 · Willamette Valley Bank
Apr 2, 1999
$345,000
Heritage Fir LLC
Rasmussen,peter A
Grant Deed
$755,000 · Pioneer Trust Bank NA
—
—
Hensley Living Trust
—
Deed Of Trust
related
$1,315,000 · Umpqua Bank
—
—
Heritage Fir LLC
—
Deed Of Trust
related
$700,000 · Valley Business Bank
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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