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Property profile & analytics
OFF-MARKET
Estimated value
$1,255,000
Warehouses
1955 Bch NE Ave Salem, OR 97301-0184
Individually Owned
11-yr Hold
~
Est. High Equity
Property ID
US71-0323550
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2002
Total area
5,920 SF
Lot
0.51 ac (22,216 SF)
Zoning code
CR
APN
073W13BC02200
UPID
US71-0323550
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
-
Number One Repair Auto Repair Shop Motorcycle Shop
-
Best Cabinets Inc. General Contractor Renovation Specialist
-
SLH Services Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$1.26M
Owner & transaction history
Thomas,jeffrey M · 11 yrs held
Thomas,jeffrey M
since 2015
5 recorded transactions
Zoning & alternative use
CR · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the Commercial Retail (CR) 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. The CR zone generally allows a wide array of retail sales and office uses.
Zone name
Retail Commercial
General category
COMMERCIAL
Zone area
453.73 ac
Source
Realmo
Top alternative use upside
Medical building
$2.0M
+73.8%
Commercial (general)
$1.7M
+45.5%
Office building
$1.5M
+32.3%
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
WAREHOUSE, STORAGE
$1,150,000
Current use
MEDICAL BUILDING
$2,000,000
Change: +74% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,675,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$1,525,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$1,460,000
Change: +27% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,065,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±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
$212 / 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
$6,496
Tax year 2023
Assessed value
$330,980
Assessed 2023
Previous assessed
$321,340
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$117,770
Improvement market value
$407,920
Total market value
$525,690
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
2002
Heating
NONE
Stories
1
Total area
5,920 SF
Lot
0.51 ac (22,216 SF)
Zoning code
CR
APN
073W13BC02200
UPID
US71-0323550
Jurisdiction
MARION
Zoning & alternative use
CR · Salem, ORZoning CR · permitted uses
CR · 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 Commercial Retail (CR) 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. The CR zone generally allows a wide array of retail sales and office uses.
Zone name
Retail Commercial
General category
COMMERCIAL
Zone area
453.73 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2002
Heating
NONE
Stories
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
Thomas,jeffrey M
Individual
Mailing address
4160 EAGLE CRST RD NW, SALEM, OR 97304-9760
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2015
$300,000
Thomas,jeffrey M
Holmes Myke L Living Trust
Warranty Deed
$202,500 · Bank Of The Pacific
Apr 15, 2003
—
Myke L Holmes
—
Trustees Deed
related
$40,000 · Silver Falls Bank
Mar 30, 1990
$6,000
Myke Holmes
Unknown
Grant Deed
—
—
—
Myke L Holmes
—
Deed Of Trust
related
$200,000 · Silver Falls Bank
—
—
Myke L Holmes
—
Deed Of Trust
related
$165,000 · Silver Falls Bank
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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