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    241 Liberty St NE Salem, OR 97301
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    Property profile & analytics

    241 Liberty St NE, Salem, OR 97301

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    • Investment properties
    • 24,242 SF
    • 0.23 lot acres
    For Lease
    $1.80 SF/Yr
    View Listing →
    Downtown Salem Retail Space Available For Lease
    $1.80 SF/Yr
    638 SF

    Downtown Salem Retail Space Available

    Retail spaces for lease in downtown Salem buildings.

    241 Liberty St NE, Salem, OR
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    Property ID
    US71-0865822
    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.
    Value Estimations
    $9,105,000
    Cap Rate Potential
    2.4%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Kraftworks Taphouse / Bar & Pub

    Property Details for 241 Liberty St NE

    Year built
    1920
    Lot size
    0.23 lot acres
    Zone code
    CB
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    073W22DC07301
    APU
    073W22DC07301

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 12, 2023 $9,650,000 Kerley Commercial LLC Newberry LLC Warranty Deed $8.7M · Newberry LLC
    Nov 14, 2005 $800,000 Owner Name Unavailable Fox,harvey H & Dorothy E Warranty Deed · related —
    Dec 30, 1986 $450,000 Harvey H Fox Unknown Grant Deed —
    — — Newberry LLC — Deed Of Trust · related $1.5M · Pacific Cont'l Bk
    — — Newberry LLC — Deed Of Trust · related $650k · Willamette Valley Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,895,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,670,000
      Market price range: $2.55M - $10.7M
      AI Estimate
      $7,670,000
      Market price range: $2.55M - $10.7M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,860,000
      Current use
      RESTAURANT
      $10,685,000
      Change: +56% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $8,655,000
      Change: +26% Conversion: Difficult
      MEDICAL BUILDING
      $8,195,000
      Change: +19% Conversion: Easy
      OFFICE BUILDING
      $6,240,000
      Change: -9% Conversion: Easy
      RETAIL STORES
      $5,970,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.039
    Latitude
    44.9417
    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
    $40,528
    $0.00
    $0.00
    $2,064,900
    -
    $304,500
    $2,551,210
    $2,855,710

    Comparable in this City

    • Value Estimation by Request

      187 High NE St

      STORE/OFFICE (MIXED USE)
      187 High NE St, Salem, OR 97301-3641
      View Details
    • Value Estimation
      $2,195,000
      20,916 SF

      120 Liberty NE St

      STORE/OFFICE (MIXED USE)
      120 Liberty NE St, Salem, OR 97301-3527
      View Details
    • Value Estimation
      $5,830,000
      18,431 SF

      255 Liberty NE St

      STORE/OFFICE (MIXED USE)
      255 Liberty NE St, Salem, OR 97301-3531
      View Details
    • Value Estimation
      $3,585,000
      15,893 SF

      102 Liberty NE St

      STORE/OFFICE (MIXED USE)
      102 Liberty NE St, Salem, OR 97301-3953
      View Details
    • Value Estimation
      $1,390,000
      11,625 SF

      3085 Portland NE Rd

      STORE/OFFICE (MIXED USE)
      3085 Portland NE Rd, Salem, OR 97301-0127
      View Details
    • Value Estimation
      $1,865,000
      12,508 SF

      237 High NE St

      STORE/OFFICE (MIXED USE)
      237 High NE St, Salem, OR 97301-3643
      View Details

    Similar Nearby for Sale

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      7,570 SF

      Salem Restaurant - Turnkey Opportunity

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    • $675,000

      Renovated Retail Building Investment Opportunity

      Leased retail building near I-5 and downtown Salem.
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      625 SF

      Mixed-Use Property in Salem

      Versatile mixed-use property with retail, office, and warehouse space.
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      9,299 SF

      Commercial Portfolio with Highway Frontage

      Two-parcel commercial/industrial portfolio with showroom, office, and warehouse space.
      1994 Commercial St NE, Salem, OR 97301
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    • $4,575,000
      38,450 SF

      Salem's Historic Grand Investment

      Mixed-use building, prime location.
      181 High St, Salem, OR 97301
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      4,080 SF

      Turn-Key Multifamily Investment Opportunity

      Eight-unit multifamily property in Southeast Salem, extensively rehabilitated in 2018-2019.
      2585 Lee St SE, Salem, OR 97301
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    Similar Nearby for Lease

    • Contact for pricing

      Historic Mixed-Use Property in Salem

      Historic mixed-use property with office, retail, and restaurant spaces.
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      View Details
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      Versatile Business Park for Lease

      Seven-building business park suitable for various commercial uses.
      200 Hawthorne Ave SE, Salem, OR 97301
      View Details
    • $25 SF/Yr

      Class A Office Space Available

      Prime Salem location with high-end office space for rent.
      777 Commercial St SE, Salem, OR 97301
      View Details
    • Contact for pricing
      700 SF

      Salem Office Space For Rent

      Office space available for lease in Salem, Oregon.
      695-659 Cottage St Ne, Salem, OR 97301
      View Details
    • Contact for pricing

      Multi-Tenant Office Complex For Rent

      Office complex with river views and on-site parking.
      2111 Front St NE, Salem, OR 97301
      View Details
    • Contact for pricing

      Downtown Office Space Available

      First and second floor office space with high walk score.
      565 Union St NE, Salem, OR 97301
      View Details
    View Listing
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    241 Liberty St NE
    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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    241 Liberty St NE, Salem, OR, 97301
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