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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    245 Queen SE Ave Albany, OR 97322-3365

    • Warehouses
    • 6,432 SF
    • 0.72 lot acres
    OFF-MARKET
    Last Sale
    Jun 01, 2023
    $815,000
    Value Estimations
    $995,000
    Show details
    Cap Rate Potential
    7.8%
    Warehouses
    Location Intelligence
    Property ID
    US71-0343913
    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.

    Current Use by Public Records

    • Cascade Auto Glass / Auto Repair Shop
    • U.S. Finishing / Contractor
    • zombieland farms / Food Manufacturer
    • Gray's Furniture Repair LLC / Furniture Repair Shop / Antique Furniture Restoration Service

    Property Details for 245 Queen SE Ave

    Year built
    1976
    Lot size
    0.72 lot acres
    Property size
    6,432 SF
    Property type
    Warehouses
    APN
    11S 03W 07CA 08303
    APU
    11S03W07CA08303

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,010,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,315,000
      6.5%
      $1,215,000
      7%
      $1,125,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $682,000
      Market price range: $683k - $1.02M
      AI Estimate
      $682,000
      Market price range: $683k - $1.02M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $825,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,555,000
      Change: +88% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $850,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Linn
    State
    Oregon
    Longitude
    -123.101
    Latitude
    44.6255
    CBSA code
    10540
    CBSA name
    ALBANY-LEBANON, OR MICROPOLITAN 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
    $5,934
    $0.00
    $0.00
    $297,920
    -
    $194,570
    $444,330
    $638,900

    Comparable in this City

    • Value Estimation by Request
      53,579 SF

      263 Queen Ave Swf

      MINI-WAREHOUSE, STORAGE • 53,579 SF
      263 Queen Ave Swf, Albany, OR 97322-3380
      View Details
    • Value Estimation by Request
      10,072 SF

      260 Queen SE Ave

      STORAGE YARD (JUNK, SALVAGE) • 10,072 SF
      260 Queen SE Ave, Albany, OR 97322-3304
      View Details
    • Value Estimation by Request
      1,760 SF

      1600 Fry SW St

      WAREHOUSE, STORAGE • 1,760 SF
      1600 Fry SW St, Albany, OR 97322-3301
      View Details
    • Value Estimation by Request
      7,987 SF

      2490 Fry SW St

      WAREHOUSE, STORAGE • 7,987 SF
      2490 Fry SW St, Albany, OR 97322-7801
      View Details
    • Value Estimation by Request
      5,280 SF

      34150 Hwy 20th SE

      STORAGE YARD (JUNK, SALVAGE) • 5,280 SF
      34150 Hwy 20th SE, Albany, OR 97322-9730
      View Details
    • Value Estimation by Request
      17,138 SF

      1214 Montgomery SE St

      WAREHOUSE, STORAGE • 17,138 SF
      1214 Montgomery SE St, Albany, OR 97322-3266
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,170,775 SF

      Albany Industrial Mega-Site

      Massive warehouse, build-to-suit options.
      2910 Three Lakes Rd, Albany, OR 97322
      View Details
    • $3,525,000
      24,260 SF

      Albany Industrial Property For Sale

      Industrial property with long-term NNN lease and established tenant.
      1957 Fescue St SE, Albany, OR 97322
      View Details
    • $3,525,000
      24,260 SF

      Light Industrial Building Investment

      Class A building with long-term tenant and highway visibility.
      1913-1957 Fescue St SE, Albany, OR 97322
      View Details
    • Contact for pricing

      20-Acre Land Near Developments

      20.03 acres of land adjacent to city limits.
      312 Ellingson Rd SW, Albany, OR 97322
      View Details
    • New
      $370,000
      1,860 SF

      Albany Duplex Investment Opportunity

      Well-maintained duplex in Albany's Opportunity Zone with long-term tenants.
      3711 Earl Ave NE, Albany, OR 97322
      View Details
    • $1,350,000
      3.00 Acres

      Three Acre Development Opportunity

      Three one-acre lots suitable for residential development.
      4055 SE Spicer Dr, Albany, OR 97322
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,170,775 SF

      Albany Warehouse: I-5 Frontage

      Massive warehouse, ideal distribution.
      2910 Three Lakes Rd, Albany, OR 97322
      View Details
    • $9,779 /Mo
      10,137 SF

      Remodeled Industrial Warehouse with Yard

      10,137 SF industrial suite with office and warehouse space.
      1210 Jackson St SE, Albany, OR 97322
      View Details
    • $0.90 SF/Yr
      11,000 SF

      Albany Warehouse/Office Building For Rent

      11,000 SF warehouse/office building on 2.16 acres.
      3650 Marion St SE, Albany, OR 97322
      View Details
    • $10 SF/Yr
      54,304 SF

      Three Lakes Industrial Park

      Albany, OR Industrial Space
      2200 Three Lakes Rd, Albany, OR 97322
      View Details
    • $3,500 /Mo
      4,000 SF

      Industrial Warehouse/Office Space Available

      4,000 SF industrial warehouse/office space for lease.
      1170 Anderson Pl SE, Albany, OR 97322
      View Details
    • Contact for pricing
      4,013 SF

      Retail Space Near Heritage Mall

      Retail space adjacent to Heritage Mall, Albany, Oregon.
      1290 SE Geary St, Albany, OR 97322
      View Details
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    245 Queen SE Ave
    Albany, OR 97322-3365
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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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