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Property profile & analytics
OFF-MARKET
Strip malls
2225 Lancaster NE Dr Salem, OR 97305-1224
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0665965
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Total area
47,154 SF
Lot
2.15 ac (93,654 SF)
Zoning code
CR
APN
072W18CC05900
UPID
US71-0665965
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
-
Access Technologies Inc Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Lrt Village East Center LLC · 19 yrs held
Lrt Village East Center LLC
since 2006
6 recorded transactions
Zoning & alternative use
CR · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$73,109
Tax year 2023
Assessed value
$3,724,930
Assessed 2023
Previous assessed
$3,616,437
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$1,498,460
Improvement market value
$3,199,230
Total market value
$4,697,690
Applied tax rate
24,013.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1986
Heating
NONE
Stories
1
Total area
47,154 SF
Lot
2.15 ac (93,654 SF)
Zoning code
CR
APN
072W18CC05900
UPID
US71-0665965
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.
Building & site characteristics
From public records
Year built
1986
Heating
NONE
Stories
1
Lot
2.15 ac
Current owner
From public records · entity-resolved
Lrt Village East Center LLC
Entity
Mailing address
5743 CORSA AVE STE #215, WESTLAKE VILLAGE, CA 91362-6467
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
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
Oct 19, 2021
—
Village East Property Owner LLC
—
Deed
related
$13,000,000 · Benefit Street Partners Realty Trust INC
Dec 1, 2020
—
Village East LLC
—
Deed
related
$10,400,000 · Western Alliance Bk
Sep 15, 2006
—
Lrt Village East Center LLC
Village East Center LLC
Quit Claim Deed
related
$7,100,000 · Bear Stearns Commercial Mtg
Dec 31, 2002
—
Village East Center LLC
Pob Apollo Vefw LP
Grant Deed
related
—
Jan 16, 1986
$400,000
Springer Development Co Dba
Unknown
Grant Deed
—
—
—
Village East LLC
—
Deed Of Trust
related
$10,400,000 · Western Alliance Bk
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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