Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1695 Fairgrounds Rd Salem, OR 97301

    • Commercial real estate
    • 5,000 SF
    • 0.13 lot acres
    For Lease
    View listing
    $13 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0714280
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1695 Fairgrounds Rd

    Year built
    1948
    Lot size
    0.13 lot acres
    Property size
    5,000 SF
    Zone code
    CR
    Property type
    Commercial real estate
    APN
    073W23BA03000
    APU
    073W23BA03000

    Description

    This exceptional 5,000 square foot retail storefront, located at 1695 Fairgrounds Rd NE in Salem, Oregon, presents a unique investment opportunity. Built in 1948, this Class C property boasts three separate units, offering flexibility for various retail uses. The building features prominent frontage on Fairgrounds Road in a popular north Salem neighborhood, ensuring high visibility and accessibility. The net rentable area totals 3,500 square feet, providing ample space for tenants. The property is zoned CG and is offered at an asking price of $990,000. A triple net (NNN) lease structure is in place, making this a low-maintenance investment. The property's history as the Old Tucker Automotive Dealership adds to its character and potential appeal. Flexible contract sale terms are available, making this an attractive option for discerning investors. This is a rare chance to acquire a well-located, established retail property in a thriving Oregon market. The property's size and multiple unit configuration provide a strong foundation for long-term rental income and potential appreciation. Don't miss this chance to own a piece of Salem's history and secure a profitable retail investment. The zip code is 97301, and the property is situated in Marion County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $589,000
      Market price range: $525k - $2.20M
      AI Estimate
      $589,000
      Market price range: $525k - $2.20M

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.025
    Latitude
    44.9541
    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
    $3,116
    $0.00
    $0.00
    $158,750
    -
    $53,260
    $225,740
    $279,000

    Comparable in this City

    • Value Estimation by Request
      23,202 SF

      475 Cottage St

      Office Properties & Spaces • 23,202 SF
      475 Cottage St, Salem, OR 97301
      View Details
    • Value Estimation by Request
      0.19 Acres

      162 Commercial NE St

      COMMERCIAL (GENERAL) • 0.19 Acres
      162 Commercial NE St, Salem, OR 97301
      View Details
    • Value Estimation by Request
      0.57 Acres

      1501 Lancaster NE Dr

      COMMERCIAL (GENERAL) • 0.57 Acres
      1501 Lancaster NE Dr, Salem, OR 97301-1963
      View Details
    • Value Estimation by Request
      0.11 Acres

      1360 Smith NE St

      COMMERCIAL (GENERAL) • 0.11 Acres
      1360 Smith NE St, Salem, OR 97301-0613
      View Details
    • Value Estimation by Request
      0.03 Acres

      2220 Wayside NE Ter

      COMMERCIAL (GENERAL) • 0.03 Acres
      2220 Wayside NE Ter, Salem, OR 97301-0325
      View Details
    • Value Estimation by Request
      0.07 Acres

      1725 Ctr NE St

      COMMERCIAL (GENERAL) • 0.07 Acres
      1725 Ctr NE St, Salem, OR 97301
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3.00 Acres

      Salem Industrial Land Opportunity

      Prime Salem acreage, I-5 access
      1940-2045 Hyacinth St, Salem, OR 97301
      View Details
    • $1,100,000

      Salem Commercial Land - High Visibility

      Prime Salem location, 36,590 sq ft commercial pad.
      1302 Lancaster Dr, Salem, OR 97301
      View Details
    • $7,300,000
      65,597 SF

      Salem Industrial Manufacturing Facility

      High-yield Oregon manufacturing investment
      560 21St St, Salem, OR 97301
      View Details
    • $2,950,000
      39,935 SF

      Salem Shopping Center Investment Opportunity

      Mixed-use retail & warehouse, 39,935 SF
      3545-3599 Portland Rd, Salem, OR 97301
      View Details
    • $1,200,000

      Retail Property For Sale

      Retail property available for purchase in Salem, Oregon.
      3060 Portland Rd NE, Salem, OR 97301
      View Details
    • Contact for pricing
      51,384 SF

      Salem Office Building For Sale

      Multi-tenant office building in Salem's Central Business District.
      302 State St, Salem, OR 97301
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      10,307 SF

      Downtown Office Space Available

      Classic office building with modern updates.
      695 Commercial St, Salem, OR 97301
      View Details
    • $15 SF/Yr
      1,602 SF

      Downtown Salem Office Suites

      Hip industrial spaces, flexible lease terms.
      249 Liberty St, Salem, OR 97301
      View Details
    • $17 SF/Yr
      7,141 SF

      Capitol Tower Office Suites in Salem, OR

      Prime Salem Office Space: 6 Suites Available
      388 State St, Salem, OR 97301
      View Details
    • $22 SF/Yr
      30,488 SF

      Salem Office Building: Prime Location

      Class A Office Space, 2,915 sq ft Available
      698 12Th St, Salem, OR 97301
      View Details
    • $13 SF/Yr
      5,000 SF

      Prime Retail Space, Fairgrounds Rd NE

      5,000 SF Standalone Retail Building
      1695 Fairgrounds Rd, Salem, OR 97301
      View Details
    • $1.85 SF/Yr
      2,915 SF

      Office Space in Creekside Setting

      Office space for rent in an amazing creekside location.
      620 12Th St SE, 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.
    1695 Fairgrounds Rd
    Salem, OR 97301
    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

    Google sign-in failed. Please try again or use another login method.