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Property profile & analytics
OFF-MARKET
Estimated value
$3,065,000
Retail properties & Spaces
1596 22nd SE St, Salem, OR 97302-1233
Entity Owned
31-yr Hold
~
Est. High Equity
Property ID
US71-1008125
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1970
Total area
14,061 SF
Lot
1.17 ac (50,965 SF)
Zoning code
IG
APN
073W35AC00400
UPID
US71-1008125
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
-
Cherry City Electric Electrical Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.15M
Blend (final)
Blend
$3.07M
Owner & transaction history
Capital Equities LLC · 31 yrs held
Capital Equities LLC
since 1995
2 recorded transactions
Zoning & alternative use
IG · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.0M
+123.0%
Medical building
$4.8M
+111.1%
Office building
$4.5M
+98.2%
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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$2,250,000
Current use
AUTO REPAIR, GARAGE
$5,020,000
Change: +123% · Conversion: Difficult
MEDICAL BUILDING
$4,750,000
Change: +111% · Conversion: Difficult
OFFICE BUILDING
$4,465,000
Change: +98% · Conversion: Difficult
RETAIL STORES
$3,465,000
Change: +54% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,410,000
Change: +52% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,385,000
Change: +50% · Conversion: Difficult
Blend value · Realmo final
$3.07M
Range $2.76M – $3.37M · ±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
$218 / 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
$23,480
Tax year 2023
Assessed value
$1,196,300
Assessed 2023
Previous assessed
$1,161,460
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$190,530
Improvement market value
$1,545,600
Total market value
$1,736,130
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1970
Heating
NONE
Stories
2
Total area
14,061 SF
Lot
1.17 ac (50,965 SF)
Zoning code
IG
APN
073W35AC00400
UPID
US71-1008125
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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$5.0M
MEDICAL BUILDING
Est. value
$4.8M
OFFICE BUILDING
Est. value
$4.5M
RETAIL STORES
Est. value
$3.5M
WAREHOUSE, STORAGE
Est. value
$3.4M
COMMERCIAL (GENERAL)
Est. value
$3.4M
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (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
1970
Heating
NONE
Stories
2
Lot
1.17 ac
Current owner
From public records · entity-resolved
Capital Equities LLC
Entity
Mailing address
1596 22ND ST SE, SALEM, OR 97302-1233
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1995
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 1995
$650,000
Capital Equities LLC
Davis,james L & Gretchen M
Grant Deed
related
$487,500 · Key Bank Of Oregon
Aug 26, 1991
—
James L Davis JR.
Unknown
Grant Deed
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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