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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2195 Hyacinth St NE Salem, OR 97301

    • Warehouses
    • 68,220 SF
    • 6.67 lot acres
    For Lease
    View listing
    $1.41 SF/Yr
    Last Sale
    Jan 26, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0250584
    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.

    Current Use by Public Records

    • Torah to the Tribes / Church
    • Green Gecko IT / Computer Consultant / Computer Networking Service
    • Rapid Print Solutions / Toner Cartridge Supplier / Office Supply Store
    • Ashley Furniture Distribution / Furniture Store
    • Freed Creativity / Manufacturer

    Property Details for 2195 Hyacinth St NE

    Year built
    1964
    Lot size
    6.67 lot acres
    Property size
    68,220 SF
    Zone code
    IC
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    073W12B 00200
    APU
    073W12B00200

    Description

    The 45th Parallel Building, located at 2195 Hyacinth St NE in Salem, Oregon, offers a diverse range of commercial spaces ideal for businesses of all sizes. This 72,489 square foot building sits on a 7-acre lot and is zoned IC. The property boasts a variety of uses, including retail, office, and industrial space, currently configured as executive office and warehouse/distribution space. Multiple tenancies are available, with a minimum divisible space of 185 square feet and a maximum contiguous space of 2,480 square feet. Currently, 21,100 square feet of space is vacant, presenting a significant opportunity for immediate occupancy. The building underwent renovations in 2015, ensuring modern amenities and functionality. The property's location in Marion County, Oregon, provides easy access to major transportation routes and a thriving business community. With 24 spaces currently available, ranging from small executive offices to larger warehouse/distribution areas, this property offers unparalleled flexibility to accommodate a variety of business needs. The building's versatile design and prime location make it an exceptional investment opportunity in the Salem market. The zip code is 97301.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $21,083,000
      Market price range: $8.20M - $21.1M
      AI Estimate
      $20,642,000
      Market price range: $4.06M - $20.6M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $13,270,000
      Current use
      RESTAURANT
      $30,075,000
      Change: +127% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $24,355,000
      Change: +84% Conversion: Easy
      MEDICAL BUILDING
      $23,055,000
      Change: +74% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $19,305,000
      Change: +46% Conversion: Difficult
      OFFICE BUILDING
      $17,560,000
      Change: +32% Conversion: Difficult
      RETAIL STORES
      $16,805,000
      Change: +27% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.001
    Latitude
    44.9819
    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
    $112,617
    $0.00
    $0.00
    $5,737,910
    -
    $2,398,540
    $10,085,280
    $12,483,820

    Comparable in this City

    • Value Estimation
      $3,165,000
      14,500 SF

      2682 Cherry NE Ave

      MINI-WAREHOUSE, STORAGE • 14,500 SF
      2682 Cherry NE Ave, Salem, OR 97301-7236
      View Details
    • Value Estimation
      $4,380,000
      14,324 SF

      2180 16th NE St

      MINI-WAREHOUSE, STORAGE • 14,324 SF
      2180 16th NE St, Salem, OR 97301-0496
      View Details
    • Value Estimation
      $2,375,000
      7,760 SF

      1575 Hickory NE St

      MINI-WAREHOUSE, STORAGE • 7,760 SF
      1575 Hickory NE St, Salem, OR 97301-0013
      View Details
    • Value Estimation
      $1,910,000
      6,250 SF

      2540 Frnt NE St

      MINI-WAREHOUSE, STORAGE • 6,250 SF
      2540 Frnt NE St, Salem, OR 97301
      View Details
    • Value Estimation by Request
      989 SF

      245 Grv NE St

      MINI-WAREHOUSE, STORAGE • 989 SF
      245 Grv NE St, Salem, OR 97301
      View Details
    • Value Estimation
      $1,255,000
      4,100 SF

      1241 Hawthorne NE Ave

      MINI-WAREHOUSE, STORAGE • 4,100 SF
      1241 Hawthorne NE Ave, Salem, OR 97301-2884
      View Details

    Similar Nearby for Sale

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      Versatile Salem Property with Development Potential

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      Salem Commercial Land For Sale

      3.09 acres of commercial land ready for development.
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    • $1,500,000
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      Versatile Commercial Property in Salem

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    • $2,300,000
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      Cold Storage Warehouse For Sale

      Well-maintained 13,125 SF cold storage warehouse space available for sale.
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      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      1,970 SF

      Industrial Buildings - Marion County

      Three buildings, ample parking, I-5 access.
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      View Details
    • $2,750,000
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      Mixed-Use Property in Salem

      Versatile mixed-use property with retail, office, and warehouse space.
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      View Details
    • $9 SF/Yr
      105,206 SF

      Keystone Industrial Park: Salem, OR

      Multi-tenant industrial space; excellent location.
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    • $2 SF/Yr
      36,462 SF

      Salem Industrial Warehouse

      Prime Salem warehouse, ample yard space.
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      View Details
    • $5,164 /Mo
      7,830 SF

      Updated Warehouse Near I-5

      Updated warehouse with mezzanine storage, fenced yard, near I-5.
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      View Details
    • $1.10 SF/Yr
      2,000 SF

      Warehouse Spaces Near I-5 Access

      Warehouse spaces available for lease near Silverton Road and I-5.
      3365 Hawthorne Ave NE, Salem, OR 97301
      View Details
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    Salem, OR 97301
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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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