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Property profile & analytics
OFF-MARKET
Estimated value
$1,105,000
Investment properties
1850 45th NE Ave Salem, OR 97305-1809
Individually Owned
33-yr Hold
Property ID
US71-0685798
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1999
Total area
4,286 SF
Lot
13.23 ac (576,299 SF)
Zoning code
RM2; RA
APN
072W19AA04200
UPID
US71-0685798
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
-
Mid-Valley Literacy Center High School
-
East Salem Community Center Community Center
-
Salem Philharmonia Orchestra Theater & Performing Art Venue Music Venue
-
Energy Assistance Charitable Organization Social Service Agency
-
Wyant Co Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.12M
Blend (final)
Blend
$1.11M
Owner & transaction history
Kent-et Al Aldrich · 33 yrs held
Kent-et Al Aldrich
since 1993
2 recorded transactions
Zoning & alternative use
RM2; RA · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+36.2%
Medical building
$1.5M
+28.9%
Office building
$1.2M
+5.9%
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
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
COMMERCIAL (GENERAL)
$1,125,000
Current use
AUTO REPAIR, GARAGE
$1,530,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$1,450,000
Change: +29% · Conversion: Easy
OFFICE BUILDING
$1,190,000
Change: +6% · Conversion: Easy
RETAIL STORES
$1,055,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$1.11M
Range $995k – $1.22M · ±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
$258 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$48,810
Tax year 2021
Land market value
$722,960
Improvement market value
$8,026,760
Total market value
$8,749,720
Applied tax rate
24,013.0000
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
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
2
Bathrooms
9
Total area
4,286 SF
Lot
13.23 ac (576,299 SF)
Zoning code
RM2; RA
APN
072W19AA04200
UPID
US71-0685798
Jurisdiction
MARION
Zoning & alternative use
RM2; RA · Salem, OR
Zoning RM2; RA · permitted uses
RM2; RA · 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
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
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
1999
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Bathrooms
9
Lot
13.23 ac
Current owner
From public records · entity-resolved
Kent-et Al Aldrich
Individual
Mailing address
5125 WITTENBERG LN NE, KEIZER, OR 97303-4442
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1993
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 4, 1993
$40,500
Kent-et Al Aldrich
Unknown
Grant Deed
—
—
—
Christian Center Of Salem
—
Deed Of Trust
related
$3,066,300 · Assemblies Of God Fin'l Svcs
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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