Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1370 Smith NE St Salem, OR 97301-0613
    Back to Search
    Property profile & analytics

    1370 Smith NE St Salem, OR 97301-0613

    View on Map
    • Showrooms
    • 1,712 SF
    • 0.22 lot acres
    Off-Market
    Last Sale Jan 5, 2026
    $160,000
    Property ID
    US71-0800793
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • MASTERS AUTOBODY COLLISION / Auto Repair Shop

    Property Details for 1370 Smith NE St

    Year built
    1967
    Lot size
    0.22 lot acres
    Property size
    1,712 SF
    Zone code
    IC
    Property type
    Showrooms
    APN
    073W14DC00200
    APU
    073W14DC00200

    Description

    This North Salem property offers 2,950 square feet of versatile commercial space, ideal for various uses. The main building, totaling 2,150 square feet, features a blend of office and industrial areas, perfect for businesses needing both administrative and storage space. An additional 800-square-foot shop building provides extra storage capacity. The property also includes a sizable yard area. The space is currently entirely vacant and available for lease. Minimum leasable space is 400 square feet, with a maximum contiguous space of 1,150 square feet. The property is zoned MU-I, offering flexibility for a range of businesses. Conveniently located with easy access to Interstate 5 and downtown via Portland Road. The lease rate is $0.68 per square foot per month, NNN, resulting in a total monthly expense of $2,336. This presents a unique opportunity for businesses seeking a combination of office, industrial, and cold storage space in a prime location. The property's size and zoning make it suitable for a variety of commercial enterprises.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.015
    Latitude
    44.959
    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
    $1,577
    $0.00
    $0.00
    $80,370
    -
    $75,960
    $158,230
    $234,190

    Comparable in this City

    • Value Estimation by Request
      0.35 Acres

      Salem, OR 97301

      SHOW ROOM, WAREHOUSE • 0.35 Acres
      Salem, OR 97301
      View Details
    • Value Estimation
      $2,160,000
      17,880 SF

      210 State St

      SHOW ROOM, WAREHOUSE • 17,880 SF
      210 State St, Salem, OR 97301-3444
      View Details
    • Value Estimation
      $1,580,000
      14,760 SF

      1665 Silverton NE Rd

      SHOW ROOM, WAREHOUSE • 14,760 SF
      1665 Silverton NE Rd, Salem, OR 97301-0133
      View Details
    • Value Estimation
      $1,310,000
      6,200 SF

      2943 Silverton NE Rd

      SHOW ROOM, WAREHOUSE • 6,200 SF
      2943 Silverton NE Rd, Salem, OR 97301-0851
      View Details
    • Value Estimation
      $1,015,000
      5,488 SF

      1810 Commercial NE St

      SHOW ROOM, WAREHOUSE • 5,488 SF
      1810 Commercial NE St, Salem, OR 97301-0709
      View Details
    • Value Estimation by Request
      2,945 SF

      2690 Portland NE Rd

      SHOW ROOM, WAREHOUSE • 2,945 SF
      2690 Portland NE Rd, Salem, OR 97301-0125
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      23,218 SF

      Spacious Retail Space in Salem

      23,218 SF retail space available in March 2026.
      299 D St NE, Salem, OR 97301
      View Details
    • $675,000

      Renovated Retail Building Investment Opportunity

      Leased retail building near I-5 and downtown Salem.
      2390 Fairgrounds Rd, Salem, OR 97301
      View Details
    • $4,575,000
      38,450 SF

      Salem's Historic Grand Investment

      Mixed-use building, prime location.
      181 High St, Salem, OR 97301
      View Details
    • Contact for pricing
      6,000 SF

      Salem Retail Investment Opportunity

      6,000 SF retail building in Salem's bustling retail corridor.
      2809 Market St NE, Salem, OR 97301
      View Details
    • $950,000

      Historic Firehouse with Rental Upside

      Remodeled historic building with retail space and vacation rental units.
      246 State St, Salem, OR 97301
      View Details
    • Contact for pricing
      25,126 SF

      High Visibility Location on State

      13,270 SF retail property in Salem for sale.
      217 State St, Salem, OR 97301
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

      Retail/Flex Building with Showroom

      Retail/flex building with showroom and high visibility available for lease.
      3515 Del Webb Ave NE, Salem, OR 97301
      View Details
    • Contact for pricing

      Salem Warehouse and Showroom Space

      Versatile warehouse and showroom space in northeast Salem, Oregon.
      2680 Cherry Ave NE, Salem, OR 97301
      View Details
    • Contact for pricing

      Retail Space on Fairgrounds Road

      Flatiron building suitable for retail, showroom, or daycare.
      1695 Fairgrounds Rd NE, Salem, OR 97301
      View Details
    • $1.25 SF/Yr
      821 SF

      Retail Space Available For Lease

      Retail space for lease featuring shared restroom and client access.
      752-758 Hawthorne Ave NE, Salem, OR 97301
      View Details
    • $20 SF/Yr
      1,325 SF

      Retail Space Available For Lease

      Retail space available for lease in Salem, Oregon.
      1637-1677 Hawthorne Ave NE, Salem, OR 97301
      View Details
    • Contact for pricing
      3,060 SF

      Downtown Retail Space For Rent

      Two-story retail building with storefronts in vibrant downtown Salem.
      370 State St, Salem, OR 97301
      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.
    1370 Smith NE St
    Salem, OR 97301-0613
    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

    Thank You for Inquiry
    1370 Smith NE St, Salem, OR, 97301
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!