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Property profile & analytics
OFF-MARKET
Estimated value
$6,855,000
Warehouses
1244 Frnt NE St Salem, OR 97301
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US71-0536773
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1960
Total area
67,830 SF
Lot
1.59 ac (69,260 SF)
Zoning code
CO
APN
073W22AB01100
UPID
US71-0536773
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.15M
Blend (final)
Blend
$6.86M
Owner & transaction history
Honey LLC · 3 yrs held
Honey LLC
since 2022
Last sale
$4.7M
4 recorded transactions
Zoning & alternative use
CO · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$7,955,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$6.86M
Range $6.17M – $7.54M · ±10% · vs last sale $4.75M (Oct 5 2022)
Last sale anchor
$4.75M
Oct 5 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
$101 / 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
$23,441
Tax year 2023
Assessed value
$1,194,310
Assessed 2023
Previous assessed
$1,159,530
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$686,280
Improvement market value
$4,197,360
Total market value
$4,883,640
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1960
Heating
NONE
Stories
1
Total area
67,830 SF
Lot
1.59 ac (69,260 SF)
Zoning code
CO
APN
073W22AB01100
UPID
US71-0536773
Jurisdiction
MARION
Zoning & alternative use
CO · Salem, OR
Zoning CO · permitted uses
CO · 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.
Building & site characteristics
From public records
Year built
1960
Heating
NONE
Stories
1
Lot
1.59 ac
Current owner
From public records · entity-resolved
Honey LLC
Entity
Mailing address
21400 SE TILLSTROM RD, DAMASCUS, OR 97089-6026
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2022
$4,745,000
Honey LLC
Truitt Properties LLC
Warranty Deed
$3,165,000 · First Republic Bank
Aug 3, 2016
—
Truitt Properties LLC
—
Deed
related
—
May 16, 2008
$2,550,000
Truitt Properties LLC
Balch,faun L & Dixie J
Warranty Deed
$2,167,500 · Sterling Svgs Bk
—
—
Truitt Properties LLC
—
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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