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Property profile & analytics
OFF-MARKET
Estimated value
$15,590,000
Medical Office Space
2020 Capitol NE St, Salem, OR 97301-0644
Entity Owned
29-yr Hold
~
Est. High Equity
Property ID
US71-0736833
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1975
Total area
50,372 SF
Lot
4.42 ac (192,535 SF)
Zoning code
CR
APN
073W14DC06500
UPID
US71-0736833
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
-
Salem Clinic Medical Clinic
-
Salem Clinic: Huun Paul E MD Medical Clinic
-
Urgent Care Medical Clinic
-
Dr. Heather J. Burgin, MD Physician
-
Nair Rajan MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.19M
Blend (final)
Blend
$15.59M
Owner & transaction history
Sono LLC · 29 yrs held
Sono LLC
since 1997
5 recorded transactions
Zoning & alternative use
CR · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$22.2M
+30.4%
Auto repair, garage
$18.0M
+5.6%
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
MEDICAL BUILDING
$17,025,000
Current use
RESTAURANT
$22,205,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,985,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$14,255,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$15.59M
Range $14.03M – $17.15M · ±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
$309 / 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
$150,934
Tax year 2023
Assessed value
$7,690,170
Assessed 2023
Previous assessed
$7,466,190
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$1,588,420
Improvement market value
$7,395,740
Total market value
$8,984,160
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
1975
Heating
NONE
Stories
1
Total area
50,372 SF
Lot
4.42 ac (192,535 SF)
Zoning code
CR
APN
073W14DC06500
UPID
US71-0736833
Jurisdiction
MARION
Zoning & alternative use
CR · Salem, OR
Zoning CR · permitted uses
CR · 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
MEDICAL BUILDING Current
Est. value
$17.0M
RESTAURANT
Est. value
$22.2M
AUTO REPAIR, GARAGE
Est. value
$18.0M
COMMERCIAL (GENERAL)
Est. value
$14.3M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1975
Heating
NONE
Stories
1
Lot
4.42 ac
Current owner
From public records · entity-resolved
Sono LLC
Entity
Mailing address
2020 CAPITOL ST NE, SALEM, OR 97301-0644
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1997
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
Dec 2, 2009
—
Sono LLC
—
Deed Of Trust
related
$2,450,000 · Umpqua Bank
May 11, 2000
—
Sono LLC
—
Deed Of Trust
related
$1,017,000 · Us Bank NA
May 30, 1997
—
Sono LLC
Salem Clinic
Grant Deed
$3,224,000 · Us Bank Of Oregon
Jun 16, 1982
—
Salem Clinic Building
Unknown
Grant Deed
related
—
—
—
Sono LLC
—
Deed Of Trust
related
$1,200,000 · Us Bank NA
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.
Try Rey
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