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Property profile & analytics
OFF-MARKET
Estimated value
$1,435,000
Warehouses
1865 Bch NE Ave Salem, OR 97301-0103
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US71-0225636
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1979
Total area
9,387 SF
Lot
0.46 ac (20,038 SF)
Zoning code
CG
APN
073W13BC02700
UPID
US71-0225636
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
-
SNACKMEX Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.12M
Comparable Approach
Comparable
$1.96M
Blend (final)
Blend
$1.44M
Owner & transaction history
Snackmex Corp · 5 yrs held
Snackmex Corp
since 2020
Last sale
$975,000
7 recorded transactions
Zoning & alternative use
CG · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the General Commercial (CG) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
183.30 ac
Source
Realmo
Top alternative use upside
Retail stores
$2.3M
+26.7%
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
$1,720,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,210,000
6.5%
$1,115,000
7%
$1,035,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,825,000
Current use
RETAIL STORES
$2,310,000
Change: +27% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,685,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$1.44M
Range $1.29M – $1.58M · ±10% · vs last sale $975k (Dec 9 2020)
Last sale anchor
$975k
Dec 9 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
$153 / 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
$9,903
Tax year 2023
Assessed value
$504,560
Assessed 2023
Previous assessed
$489,870
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$123,980
Improvement market value
$825,860
Total market value
$949,840
Applied tax rate
24,950.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1979
Heating
NONE
Stories
1
Total area
9,387 SF
Lot
0.46 ac (20,038 SF)
Zoning code
CG
APN
073W13BC02700
UPID
US71-0225636
Jurisdiction
MARION
Zoning & alternative use
CG · Salem, ORZoning CG · permitted uses
CG · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the General Commercial (CG) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
183.30 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.8M
RETAIL STORES
Est. value
$2.3M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
WAREHOUSE, STORAGE Current
RETAIL STORES
INDUSTRIAL (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
1979
Heating
NONE
Stories
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Snackmex Corp
Entity
Mailing address
3873 IBIS ST NE, SALEM, OR 97305-1625
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2020
—
Snackmex Corp
—
Deed
related
$375,000 · Nathan J & Penelope Levin
Dec 9, 2020
$975,000
Snackmex Corp
Nathan J Levin
Warranty Deed
$375,000 · Nathan J & Penelope Levin
Nov 19, 2014
$443,000
Nathan J Levin
Interpretive Investments LLC
Grant Deed
$353,000 · Pioneer Tr Bk
Sep 14, 1995
$258,500
Interpretive Investments LLC
Puentes Brothers
Grant Deed
$225,000 · Key Bank Of Oregon
Nov 17, 1980
$229,000
Brothers Et Al Puentes
Unknown
Grant Deed
—
—
—
Interpretive Investments LLC
—
Deed Of Trust
related
$50,000 · Bank Of The Cascades
—
—
Interpretive Investments LLC
—
Loan Modification
related
—
—
—
Interpretive Investments LLC
—
Deed Of Trust
related
$70,000 · Bank Of The Cascades
—
—
Interpretive Investments LLC
—
Deed Of Trust
related
$142,233 · Bank Of The Cascades
—
—
Interpretive Investments LLC
—
Deed Of Trust
related
$407,000 · Umpqua Bank
—
—
Snackmex Corp
—
Deed Of Trust
related
$375,000 · Nathan J & Penelope Levin
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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