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Property profile & analytics
OFF-MARKET
Estimated value
$3,740,000
Medical Office Space
1330 Commercial SE St Salem, OR 97302-4206
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US71-0483783
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1969
Total area
14,216 SF
Lot
0.56 ac (24,394 SF)
Zoning code
CO
APN
073W27CD04000
UPID
US71-0483783
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
-
Salem Laser and Surgery Center Medical Clinic Hospital
-
BRANDON REED ERICKSON Counselor Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.12M
Blend (final)
Blend
$3.74M
Owner & transaction history
Eye Care Properties LLC · 17 yrs held
Eye Care Properties LLC
since 2008
7 recorded transactions
Zoning & alternative use
CO · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the Commercial Office (CO) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards.
Zone name
Commercial Office
General category
COMMERCIAL
Zone area
128.17 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$5.1M
+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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,805,000
Current use
AUTO REPAIR, GARAGE
$5,075,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$4,510,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$3.74M
Range $3.37M – $4.11M · ±10%
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
$263 / 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
$36,211
Tax year 2023
Assessed value
$1,844,980
Assessed 2023
Previous assessed
$1,791,250
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$334,130
Improvement market value
$1,723,700
Total market value
$2,057,830
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
1969
Heating
NONE
Stories
1
Total area
14,216 SF
Lot
0.56 ac (24,394 SF)
Zoning code
CO
APN
073W27CD04000
UPID
US71-0483783
Jurisdiction
MARION
Zoning & alternative use
CO · Salem, ORZoning CO · permitted uses
CO · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the Commercial Office (CO) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards.
Zone name
Commercial Office
General category
COMMERCIAL
Zone area
128.17 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$4.8M
AUTO REPAIR, GARAGE
Est. value
$5.1M
OFFICE BUILDING
Est. value
$4.5M
MEDICAL BUILDING Current
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
1969
Heating
NONE
Stories
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Eye Care Properties LLC
Entity
Mailing address
1309 LIBERTY ST SE, SALEM, OR 97302-4245
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 2019
—
Eye Care Properties LLC
—
Deed
related
—
Sep 17, 2009
—
Eye Care Properties LLC
—
Grant Deed
related
$2,400,000 · Pioneer Tr Bk
Apr 22, 2009
—
Eye Care Properties LLC
—
Trustees Deed
related
$400,000 · Pioneer Trust Bank NA
Dec 2, 2008
$2,275,000
Eye Care Properties LLC
Rowell Investments
Warranty Deed
$1,875,000 · Rowell Investments LP
Jan 11, 2002
—
Rowell Investments LP
Rowell Trust
Quit Claim Deed
related
—
—
—
Eye Care Properties LLC
—
Loan Modification
related
—
—
—
Eye Care 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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