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Property profile & analytics
FOR LEASE
Warehouses
2443 Mcgilchrist St SE Salem, OR 97302
Entity Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-0493730
For Lease
1 / 3
$7,485,000
2443 Mcgilchrist St SE, Salem, OR 97302
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1977
Total area
47,098 SF
Lot
2.09 ac (91,040 SF)
Zoning code
IG
APN
073W35DA00300
UPID
US71-0493730
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
$7.49M
Blend (final)
Blend
$7.49M
Owner & transaction history
Salem Ind LLC · 20 yrs held
Salem Ind LLC
since 2006
3 recorded transactions
Zoning & alternative use
IG · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$11.6M
+1.5%
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
WAREHOUSE, STORAGE
$11,430,000
Current use
RETAIL STORES
$11,600,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$11,330,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$7.49M
Range $6.74M – $8.23M · ±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
$159 / 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
$35,336
Tax year 2023
Assessed value
$1,800,390
Assessed 2023
Previous assessed
$1,747,960
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$286,780
Improvement market value
$2,775,800
Total market value
$3,062,580
Applied tax rate
24,990.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
For Lease
Year built
1977
Heating
NONE
Stories
1
Total area
47,098 SF
Lot
2.09 ac (91,040 SF)
Zoning code
IG
APN
073W35DA00300
UPID
US71-0493730
Jurisdiction
MARION
Zoning & alternative use
IG · Salem, OR
Zoning IG · permitted uses
IG · 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
WAREHOUSE, STORAGE Current
Est. value
$11.4M
RETAIL STORES
Est. value
$11.6M
COMMERCIAL (GENERAL)
Est. value
$11.3M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
1977
Heating
NONE
Stories
1
Lot
2.09 ac
Current owner
From public records · entity-resolved
Salem Ind LLC
Entity
Free & Clear · 20 yrs held
Mailing address
8320 NE HWY 99, VANCOUVER, WA 98665-8819
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2024
—
Salem Ind LLC
—
Deed
related
$2,900,000 · Standard Insurance Co
Nov 8, 2019
—
Divine Holdings LLC
—
Trustees Deed
related
$60,000 · Solstice Solutions LLC
Mar 13, 2006
—
Salem Ind LLC
Brown,milton O
Grant Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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