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Financial
Distress signals
Property profile

1241 State St Salem, OR 97301

FOR LEASE
Office buildings
Property ID
US71-1005573
31,398 SF 0.16 ac lot Built 1997
Last sale May 2007 · $2,253,091
Individually Owned Owner of record is an individual. 19-yr Hold Held for 19 years. Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$105k
Tax billed · 2023
Assessed value$5.33M
Effective rate1.96%

Value estimate

· Oct 2026
$11.54M
$10.38M – $12.69M
Submarket $/SF estimate$11.54M
NOI build-up
Gross scheduled income$132k
Vacancy & credit loss−$20k
Operating expenses−$28k
NOI · 351,020.83% cap applied$84k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$257/SF
ZIP average, outlier-cleaned · 56 recorded sales of this use type
Observed band · Q1–Q3$149 – $374

Cap rate analysis

How does the asset earn?
351,020.83%
$84k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
MUI
JurisdictionMARION

Location intelligence

Which uses thrive at this corner?
Best fit: Wholesale Shop
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Wholesale Shop17.9
HVAC Service17.4
Auto Parts Store17.2

Location

1241 State St Salem, OR 97301
County assessor Recorded deeds · 9 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
198 Commercial SE, Salem, OR 97301-3489 $6,500,000 Dec 2025 41,472 SF
454 17th NE, Salem, OR 97301-4223 $875,000 Dec 2025 5,481 SF
676 Church NE, Salem, OR 97301-2401 $925,000 Nov 2024 10,665 SF
494 State, Salem, OR 97301-3681 $2,000,000 Jun 2023 49,830 SF
960 Broadway NE, Salem, OR 97301-1275 $850,000 Sep 2022 9,613 SF
1311 Lancaster NE, Salem, OR 97301-1907 $1,300,000 Sep 2022 5,807 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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