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    1900 Hines SE St Salem, OR 97302-1337
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    Property profile & analytics

    1900 Hines SE St Salem, OR 97302-1337

    View on Map
    • Office buildings
    • 29,874 SF
    • 2.08 lot acres
    Off-Market
    Property ID
    US71-1009936
    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.
    Value Estimations
    $6,965,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Jacqueline LaDue with eXp Realty, LLC / Real Estate Agency
    • Catherine Ulrey, Equestrian Real Estate Broker / Real Estate Agency
    • Rod Gwinn Broker / Real Estate Agency
    • Oregon Horse Property / Real Estate Agency
    • Holli J. Gower, ND / Alternative Medicine Practice

    Property Details for 1900 Hines SE St

    Year built
    1978
    Lot size
    2.08 lot acres
    Property size
    29,874 SF
    Zone code
    IC
    Property type
    Office buildings
    APN
    073W35BA05400
    APU
    073W35BA05400

    Description

    Located at 1900 Hines St SE, Salem, this exceptional office property offers 8,000 square feet of versatile space, perfect for businesses seeking a modern and efficient workspace. The building features a single suite divisible into spaces as small as 3,000 square feet, with a maximum contiguous space of 8,000 square feet. Amenities include a common area breakroom, multiple waiting/seating areas, elevator service, secure access, and fee onsite parking. The property boasts abundant natural light thanks to its design featuring glass walls and numerous windows. Multiple room combinations are available to accommodate various business needs and sizes. Lease rates vary depending on the size of the space, ranging from approximately $465 to $627 per month for smaller suites and from $908 to $2559 per month for larger combinations. A special incentive of two months free rent is available with an acceptable lease term. The property sits on 2.08 acres of land and is zoned IC in Marion County, with Mission Street as a cross street. This is an excellent opportunity for businesses seeking a premium office environment in a convenient Salem location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,963,000
      Market price range: $6.73M - $12.1M
      AI Estimate
      $6,963,000
      Market price range: $6.73M - $12.1M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $9,480,000
      Current use
      AUTO REPAIR, GARAGE
      $10,665,000
      Change: +12% Conversion: Difficult
      MEDICAL BUILDING
      $10,095,000
      Change: +6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.022
    Latitude
    44.9261
    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
    $55,073
    $0.00
    $0.00
    $2,805,980
    -
    $747,110
    $3,103,100
    $3,850,210

    Comparable in this City

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      OFFICE BUILDING • 2,035 SF
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    • Value Estimation
      $19,215,000
      63,263 SF

      3930 Fairview Industrial SE Dr

      OFFICE BUILDING • 63,263 SF
      3930 Fairview Industrial SE Dr, Salem, OR 97302-1166
      View Details
    • Value Estimation
      $4,520,000
      20,052 SF

      3295 Triangle Dr Se Ste, Unit 105

      OFFICE BUILDING • 20,052 SF
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      View Details
    • Value Estimation by Request
      1,008 SF

      2704 12th SE St

      OFFICE BUILDING • 1,008 SF
      2704 12th SE St, Salem, OR 97302-3159
      View Details
    • Value Estimation
      $745,000
      2,856 SF

      2613 12th SE St

      OFFICE BUILDING • 2,856 SF
      2613 12th SE St, Salem, OR 97302-2154
      View Details

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    Salem, OR 97302-1337
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    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
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