Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1320 Lewis SE St Salem, OR 97302-2526

    • Office buildings
    • 2,066 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    Jul 20, 2023
    Value Estimations
    $675,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0218221
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Personal Home Care Inc / Medical Clinic
    • The Killers Pest Control Salem / Pest Control Service

    Property Details for 1320 Lewis SE St

    Year built
    1980
    Lot size
    0.32 lot acres
    Property size
    2,066 SF
    Zone code
    IC
    Property type
    Office buildings
    APN
    073W35BC07600
    APU
    073W35BC07600

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $675,000
      Market price range: $466k - $838k
      AI Estimate
      $675,000
      Market price range: $466k - $838k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $655,000
      Current use
      AUTO REPAIR, GARAGE
      $740,000
      Change: +12% Conversion: Difficult
      MEDICAL BUILDING
      $700,000
      Change: +6% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.029
    Latitude
    44.9227
    CBSA code
    41420
    CBSA name
    SALEM, OR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,344
    $0.00
    $0.00
    $272,300
    -
    $132,390
    $284,440
    $416,830

    Comparable in this City

    • Value Estimation by Request
      0.45 Acres

      Salem, OR 97302

      OFFICE BUILDING • 0.45 Acres
      Salem, OR 97302
      View Details
    • Value Estimation
      $3,560,000
      13,812 SF

      1153 Royvonne SE Ave

      OFFICE BUILDING • 13,812 SF
      1153 Royvonne SE Ave, Salem, OR 97302
      View Details
    • Value Estimation
      $830,000
      2,046 SF

      1190 Fairview SE Ave

      OFFICE BUILDING • 2,046 SF
      1190 Fairview SE Ave, Salem, OR 97302-3133
      View Details
    • Value Estimation
      $7,060,000
      17,411 SF

      3831 Fairview Industrial SE Dr

      OFFICE BUILDING • 17,411 SF
      3831 Fairview Industrial SE Dr, Salem, OR 97302-1170
      View Details
    • Value Estimation
      $4,605,000
      17,411 SF

      3871 Fairview Industrial SE Dr

      OFFICE BUILDING • 17,411 SF
      3871 Fairview Industrial SE Dr, Salem, OR 97302-1180
      View Details
    • Value Estimation by Request
      948 SF

      360 Myers SE St

      OFFICE BUILDING • 948 SF
      360 Myers SE St, Salem, OR 97302-4353
      View Details

    Similar Nearby for Sale

    • $2,250,000
      6,540 SF

      Class A Office Building

      Class A office building with professional office suites available for sale.
      3155 River Rd S, Salem, OR 97302
      View Details
    • $1,525,000
      9,170 SF

      Salem Office Building for Sale

      Office building with 45 parking spaces in Salem, Oregon.
      810-850 Commercial St SE, Salem, OR 97302
      View Details
    • $625,000
      1,985 SF

      Two-Story Office Building For Sale

      Two-story office building with high visibility and commuter traffic.
      1415 Liberty St SE, Salem, OR 97302
      View Details
    • $719,900
      2,754 SF

      Salem Office Building with Apartment

      Two-story office building with studio apartment in South Salem.
      1705 Commercial St SE, Salem, OR 97302
      View Details
    • $985,000
      3,228 SF

      Charming Converted Office in Salem

      Well-maintained 1908 house converted into office space.
      991 Liberty St SE, Salem, OR 97302
      View Details
    • $985,000
      3,228 SF

      Salem Office Building - Liberty Corridor

      Historic Charm, Modern Office Space, Prime Location
      Liberty St, Salem, OR 97302
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      3,612 SF

      Salem Retail Building with Drive-Thru

      High-Visibility Retail Space, Excellent Location
      2710 Commercial St, Salem, OR 97302
      View Details
    • $1.45 SF/Yr
      2,135 SF

      Remodeled Two-Story Office Building

      Newly remodeled office building with dedicated parking in Salem, Oregon.
      345 Lincoln St S, Salem, OR 97302
      View Details
    • $1.55 SF/Yr
      4,404 SF

      Charming Stand-Alone Office Building

      High-visibility office space with ample parking and prominent signage.
      4741 Liberty Rd S, Salem, OR 97302
      View Details
    • $27 SF/Yr
      22,024 SF

      Prime Commercial Office Building

      Modern office building in Salem with ample parking.
      2925 River Rd S, Salem, OR 97302
      View Details
    • $1.91 SF/Yr
      1,639 SF

      Office Space with Private Rooms

      Office space featuring private rooms, convenient access, and private parking.
      2001 Madrona Ave SE, Salem, OR 97302
      View Details
    • $2 SF/Yr
      6,000 SF

      Salem Office Space For Rent

      Office suites available for lease in Salem, Oregon.
      835 Commercial St SE, Salem, OR 97302
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1320 Lewis SE St
    Salem, OR 97302-2526
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.