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Property profile & analytics
OFF-MARKET
Estimated value
$2,020,000
Medical Office Space
2025 Madrona SE Ave Salem, OR 97302-1149
Entity Owned
5-yr Hold
Free & Clear
Property ID
US71-1549659
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2021
Total area
6,978 SF
Lot
0.66 ac (28,750 SF)
Zoning code
IC
APN
083W02AC01000
UPID
US71-1549659
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
-
JARED HIEBERT Physician
-
Jared Craig Hiebert Physician
-
Ear, Nose, and Throat Northwest Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.23M
Blend (final)
Blend
$2.02M
Owner & transaction history
Madrona Medical Invs LLC · 5 yrs held
Madrona Medical Invs LLC
since 2020
1 recorded transaction
Zoning & alternative use
IC · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.1M
+30.4%
Auto repair, garage
$2.5M
+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
$2,360,000
Current use
RESTAURANT
$3,075,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,490,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$2,215,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$2.02M
Range $1.82M – $2.22M · ±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
$289 / 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
$19,560
Tax year 2023
Assessed value
$996,600
Assessed 2023
Previous assessed
$386,890
+157.6% YoY
Effective rate
1.96%
On assessed value
Land market value
$285,700
Improvement market value
$1,084,650
Total market value
$1,370,350
Applied tax rate
24,960.0000
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
2021
Heating
NONE
Total area
6,978 SF
Lot
0.66 ac (28,750 SF)
Zoning code
IC
APN
083W02AC01000
UPID
US71-1549659
Jurisdiction
MARION
Zoning & alternative use
IC · Salem, OR
Zoning IC · permitted uses
IC · 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
$2.4M
RESTAURANT
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.2M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2021
Heating
NONE
Lot
0.66 ac
Current owner
From public records · entity-resolved
Madrona Medical Invs LLC
Entity
Free & Clear · 5 yrs held
Mailing address
3871 CONCOMLY RD S, SALEM, OR 97306-9722
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2020
$305,000
Madrona Medical Invs LLC
Madgrona Office Park LLC
Warranty Deed
related
—
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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