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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Warehouses
1930 Howard SE St Salem, OR 97302-1235
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US71-0987984
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1980
Total area
3,200 SF
Lot
0.34 ac (14,810 SF)
Zoning code
IG
APN
073W35BA01600
UPID
US71-0987984
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$525k
Comparable Approach
Comparable
$521k
Blend (final)
Blend
$515k
Owner & transaction history
Howard Street Properties LLC · 3 yrs held
Howard Street Properties LLC
since 2022
Last sale
$500,000
6 recorded transactions
Zoning & alternative use
IG · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$790,000
+1.5%
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%
$570,000
6.5%
$525,000
7%
$485,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$775,000
Current use
RETAIL STORES
$790,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$770,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±10% · vs last sale $500k (Aug 15 2022)
Last sale anchor
$500k
Aug 15 2022
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
$161 / 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
$2,460
Tax year 2023
Assessed value
$125,330
Assessed 2023
Previous assessed
$121,680
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$56,250
Improvement market value
$170,060
Total market value
$226,310
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1980
Heating
NONE
Stories
1
Total area
3,200 SF
Lot
0.34 ac (14,810 SF)
Zoning code
IG
APN
073W35BA01600
UPID
US71-0987984
Jurisdiction
MARION
Zoning & alternative use
IG · Salem, OR
Zoning IG · permitted uses
IG · 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
WAREHOUSE, STORAGE Current
Est. value
$775,000
RETAIL STORES
Est. value
$790,000
COMMERCIAL (GENERAL)
Est. value
$770,000
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (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
1980
Heating
NONE
Stories
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
Howard Street Properties LLC
Entity
Mailing address
PO BOX 12091, SALEM, OR 97309-0091
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2022
$500,000
Howard Street Properties LLC
Leland J Forcier
Warranty Deed
$400,000 · Leland J Forecier Family Irrevocabl
Aug 7, 2020
—
Forcier,leland J Family Trust
Leland J Forcier
Quit Claim Deed
related
—
Dec 29, 2010
$18,750
Leland Forcier
Ferguson,julie
Grant Deed
—
Dec 29, 2010
$28,000
Leland Forcier
Forcier,curtis
Warranty Deed
related
—
Oct 25, 2007
—
Jenifer Brumbach
Forcier,donald D
Grant Deed
related
—
Mar 15, 1984
$45,500
Donald D Et Al Forcier
Unknown
Grant Deed
—
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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