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Property profile & analytics
OFF-MARKET
Estimated value
$3,210,000
Warehouses
1340 Tandem NE Ave, Salem, OR 97301-8080
Individually Owned
37-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-1007417
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1999
Total area
27,792 SF
Lot
0.84 ac (36,590 SF)
Zoning code
IG
APN
073W11DC00100
UPID
US71-1007417
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
-
Oregon Occupational Safety & Health (Oregon OSHA) State Government Office
-
Daltile, American Olean, Marazzi Sales Service Center Construction Company General Contractor
-
Wild Animal Catcher Salem Animal Shelter Pet Adoption Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.34M
Blend (final)
Blend
$3.21M
Owner & transaction history
Joseph R Fox · 37 yrs held
Joseph R Fox
since 1988
5 recorded transactions
Zoning & alternative use
IG · 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
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
INDUSTRIAL (GENERAL)
$4,990,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$3.21M
Range $2.89M – $3.53M · ±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
$116 / 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
$16,401
Tax year 2023
Assessed value
$835,640
Assessed 2023
Previous assessed
$811,310
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$137,210
Improvement market value
$1,212,880
Total market value
$1,350,090
Applied tax rate
24,950.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Heating
NONE
Stories
1
Total area
27,792 SF
Lot
0.84 ac (36,590 SF)
Zoning code
IG
APN
073W11DC00100
UPID
US71-1007417
Jurisdiction
MARION
Zoning & alternative use
IG · Salem, OR
Zoning IG · permitted uses
IG · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$5.0M
INDUSTRIAL (GENERAL)
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
1999
Heating
NONE
Stories
1
Lot
0.84 ac
Current owner
From public records · entity-resolved
Joseph R Fox
Individual
Free & Clear · 37 yrs held
Mailing address
2262 MCGILCHRIST ST SE STE #200, SALEM, OR 97302-1186
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1988
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 8, 1988
$485,000
Joseph R Fox
Unknown
Quit Claim Deed
related
—
—
—
1340 Tandem Ave LLC
—
Deed Of Trust
related
$1,550,000 · Miscellaneous Ins Co
—
—
Joseph R Rox
—
Deed Of Trust
related
$250,000 · Commercial Bank
—
—
St Innocent Ltd
—
Deed Of Trust
related
$200,000 · Us National Bank Oregon
—
—
Joseph R Fox
—
Deed Of Trust
related
$1,700,000 · Standard Insurance Co
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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