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Property profile & analytics
OFF-MARKET
Office buildings
235 Salem Hts S Ave, Salem, OR 97302
Entity Owned
Free & Clear
Property ID
US71-0993149
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1949
Total area
1,196 SF
Lot
0.15 ac (6,534 SF)
Zoning code
CR
APN
083W03BB08000
UPID
US71-0993149
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
-
Delta Garage Door Repair & Installation Salem Building Supply General Contractor
-
Homes & Land Magazine Construction Company General Contractor
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
Lulays Properties LLC
Lulays Properties LLC
since 2026
Last sale
$30,000
5 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
$2,087
Tax year 2023
Assessed value
$106,320
Assessed 2023
Previous assessed
$103,230
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$42,830
Improvement market value
$210,540
Total market value
$253,370
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1949
Heating
NONE
Stories
1
Total area
1,196 SF
Lot
0.15 ac (6,534 SF)
Zoning code
CR
APN
083W03BB08000
UPID
US71-0993149
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
1949
Heating
NONE
Stories
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Lulays Properties LLC
Entity
Free & Clear · 0 yrs held
Mailing address
235 SALEM HTS AVE S, SALEM, OR 97302
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
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
Jan 15, 2026
$30,000
Lulays Properties LLC
Donald G Lulay
Deed
related
—
Jul 30, 2021
$345,000
Clmp INC
Aba Investments LLC
Warranty Deed
$300,000 · Aba Investments LLC
Jul 6, 2020
$245,000
Aba Investments LLC
Geoffrey R Reece
Warranty Deed
—
Aug 28, 2002
$93,000
Geoffrey R Reece
Auerbach,tr
Grant Deed
$83,700 · Eagle Home Mortgage Co
Dec 12, 1990
$52,000
James A Auerbach
Unknown
Grant Deed
—
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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