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Property profile & analytics
OFF-MARKET Estimated value $6,965,000
Warehouses

1337 Madison NE St Salem, OR 97301-0491

39,335 SF 1.65 ac lot Built 1920
Individually Owned 4-yr Hold Free & Clear
Property ID
US71-1016044
Property profile
Verified
Property type Warehouses
Use group MINI-WAREHOUSE, STORAGE
Year built 1920
Total area 39,335 SF
Lot 1.65 ac (71,874 SF)
Zoning code IC
APN 073W23AB00301
UPID US71-1016044
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
  • Zephyr Engineering Metal Fabrication Plant Factory
  • Hope Station Community Services Inc Food Bank Charitable Organization
  • Home Pest Control Services of Salem Garden Center
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$7.15M
Blend (final) Blend
$6.97M
Owner & transaction history
Legacy III Family Limited Partnersh · 4 yrs held
Legacy III Family Limited Partnersh
since 2021
7 recorded transactions
2021
Price N/A
2018
Price N/A
2010
Price N/A
2009
Price N/A
2009
Price N/A
2009
Price N/A
2007
$700,000
Zoning & alternative use
IC · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Industrial and Employment Zone: EC, IC, IBC, and IP Buildings and accessory structures Min. 5 ft. Type A Vehicle use areas Industrial and Employment Zone: IG Buildings and accessory structures Min 10 ft. Type C Vehicle use areas Limitations and Qualifications (1) Zone-to-zone setbacks are not required abutting an alley. (2) Notwithstanding qualification (1)…

Zone name Industrial Commercial
General category INDUSTRIAL
Zone area 1,285.18 ac
Source code of ordinances
Top alternative use upside
Commercial (general) $11.1M +45.5%
Office building $10.1M +32.3%
Retail stores $9.7M +26.7%
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