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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Turn key restaurants
2325 Fairgrounds NE Rd, Salem, OR 97301-0609
Individually Owned
27-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0828907
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1975
Total area
2,132 SF
Lot
0.37 ac (16,117 SF)
Zoning code
CG; RM2
APN
073W14DB02000
UPID
US71-0828907
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$658k
Blend (final)
Blend
$575k
Owner & transaction history
Eugene R Urban · 27 yrs held
Eugene R Urban
since 1998
5 recorded transactions
Zoning & alternative use
CG; RM2 · 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
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
RESTAURANT
$940,000
Current use
AUTO REPAIR, GARAGE
$760,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$270 / 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
$6,708
Tax year 2023
Assessed value
$349,600
Assessed 2023
Previous assessed
$339,420
+3.0% YoY
Effective rate
1.92%
On assessed value
Land market value
$132,950
Improvement market value
$217,460
Total market value
$350,410
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1975
Heating
NONE
Stories
1
Total area
2,132 SF
Lot
0.37 ac (16,117 SF)
Zoning code
CG; RM2
APN
073W14DB02000
UPID
US71-0828907
Jurisdiction
MARION
Zoning & alternative use
CG; RM2 · Salem, OR
Zoning CG; RM2 · permitted uses
CG; RM2 · 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
RESTAURANT Current
Est. value
$940,000
AUTO REPAIR, GARAGE
Est. value
$760,000
RESTAURANT Current
AUTO REPAIR, GARAGE
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
0.37 ac
Current owner
From public records · entity-resolved
Eugene R Urban
Individual
Mailing address
1285 BAIR RD NE, KEIZER, OR 97303-3299
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1998
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
Mar 15, 2006
—
Ech-keu Guov
—
Trustees Deed
related
$150,000 · Umpqua Bank
Aug 26, 1998
$200,000
Eugene R Urban
Glodt,john T & Helen M
Grant Deed
—
Dec 31, 1987
$5,000
John T Glodt
Unknown
Grant Deed
—
—
—
Ech-keu Guov
—
Deed Of Trust
related
$150,000 · Umpqua Bank
—
—
Ech-keu Guov
—
Deed Of Trust
related
$226,341 · Umpqua 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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