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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Investment properties
165 Owens S St Salem, OR 97302-4222
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US71-0593350
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1930
Total area
2,512 SF
Lot
0.11 ac (4,792 SF)
Zoning code
RM2
APN
073W27CA09700
UPID
US71-0593350
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
-
Montage Salon Hair Salon
-
Bella Verita Hair Salon Nail Salon
-
Jane Stratemeyer Hair Design Hair Salon
-
Studio montage Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$420k
Comparable Approach
Comparable
$733k
Blend (final)
Blend
$565k
Owner & transaction history
Owens St LLC · 5 yrs held
Owens St LLC
since 2020
Last sale
$400,000
5 recorded transactions
Zoning & alternative use
RM2 · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$895,000
+48.4%
Medical building
$850,000
+40.5%
Office building
$795,000
+31.9%
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
$705,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$455,000
6.5%
$420,000
7%
$390,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$605,000
Current use
AUTO REPAIR, GARAGE
$895,000
Change: +48% · Conversion: Difficult
MEDICAL BUILDING
$850,000
Change: +40% · Conversion: Easy
OFFICE BUILDING
$795,000
Change: +32% · Conversion: Easy
RETAIL STORES
$620,000
Change: +2% · Conversion: Easy
WAREHOUSE, STORAGE
$610,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$565k
Range $509k – $622k · ±10% · vs last sale $400k (Aug 14 2020)
Last sale anchor
$400k
Aug 14 2020
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
$225 / 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
$3,715
Tax year 2023
Assessed value
$189,260
Assessed 2023
Previous assessed
$183,750
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$38,610
Improvement market value
$194,750
Total market value
$233,360
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1930
Heating
NONE
Stories
1
Total area
2,512 SF
Lot
0.11 ac (4,792 SF)
Zoning code
RM2
APN
073W27CA09700
UPID
US71-0593350
Jurisdiction
MARION
Zoning & alternative use
RM2 · Salem, OR
Zoning RM2 · permitted uses
RM2 · 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
COMMERCIAL (GENERAL) Current
Est. value
$605,000
AUTO REPAIR, GARAGE
Est. value
$895,000
MEDICAL BUILDING
Est. value
$850,000
OFFICE BUILDING
Est. value
$795,000
RETAIL STORES
Est. value
$620,000
WAREHOUSE, STORAGE
Est. value
$610,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1930
Heating
NONE
Stories
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Owens St LLC
Entity
Mailing address
1220 HANSEN AVE S, SALEM, OR 97302-4065
Ownership since
2020
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
Nov 18, 2025
—
Owens St LLC
—
Deed
related
$292,700 · Willamette Valley Bank
Aug 14, 2020
$400,000
Owens St LLC
Terrence A Kay
Warranty Deed
$320,000 · Pioneer Tr Bk
Jan 28, 2020
—
Terrence A Kay
Douglas A Koster
Warranty Deed
related
$288,586 · Pioneer Tr Bk
Aug 24, 1987
$38,950
William G Johnson
Unknown
Grant Deed
—
—
—
Douglas A Koster
—
Deed Of Trust
related
$3,116 · Urban Renewal Agy Salem (or)
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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