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Property profile & analytics
FOR SALE
Office buildings
1415 Liberty St SE Salem, OR 97302
Individually Owned
32-yr Hold
~
Est. High Equity
Property ID
US71-0762598
For Sale
1 / 3
$625,000
1415 Liberty St SE, Salem, OR 97302
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1916
Total area
1,985 SF
Lot
0.2 ac (8,712 SF)
Zoning code
CO
APN
073W27CD04500
UPID
US71-0762598
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
-
John E Storkel PC Atty At Law Law Firm
-
Noel Grefenson PC Law Firm
-
Christopher C Bocci & Assoc Law Firm
-
King Fisher Mattress & Furniture Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$733k
Blend (final)
Blend
$735k
Owner & transaction history
Christopher C Bocci · 32 yrs held
Christopher C Bocci
since 1994
5 recorded transactions
Zoning & alternative use
CO · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$710,000
+12.5%
Medical building
$670,000
+6.5%
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
OFFICE BUILDING
$630,000
Current use
AUTO REPAIR, GARAGE
$710,000
Change: +12% · Conversion: Difficult
MEDICAL BUILDING
$670,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$735k
Range $662k – $809k · ±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
$370 / 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
$5,800
Tax year 2023
Assessed value
$295,490
Assessed 2023
Previous assessed
$286,890
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$120,810
Improvement market value
$434,000
Total market value
$554,810
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1916
Heating
NONE
Stories
1
Total area
1,985 SF
Lot
0.2 ac (8,712 SF)
Zoning code
CO
APN
073W27CD04500
UPID
US71-0762598
Jurisdiction
MARION
Zoning & alternative use
CO · Salem, OR
Zoning CO · permitted uses
CO · 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
OFFICE BUILDING Current
Est. value
$630,000
AUTO REPAIR, GARAGE
Est. value
$710,000
MEDICAL BUILDING
Est. value
$670,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL 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
1916
Heating
NONE
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Christopher C Bocci
Individual
Mailing address
1415 LIBERTY ST SE, SALEM, OR 97302-4343
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1994
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
May 27, 1994
$140,000
Christopher C Bocci
Michael J Denny
Grant Deed
$143,000 · Individual
Dec 5, 1991
$110,000
Michael Denny
Unknown
Grant Deed
—
—
—
Bocci,christopher C
—
Loan Modification
related
—
—
—
Christopher C Bocci
—
Deed Of Trust
related
—
—
—
Christopher C Bocci
—
Deed Of Trust
related
$255,000 · Pioneer Trust Bank NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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