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Property profile & analytics
OFF-MARKET
Estimated value
$5,695,000
Medical Office Space
2485 12th SE St Salem, OR 97302-2151
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US71-0890635
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2014
Total area
14,332 SF
Lot
1.24 ac (54,014 SF)
Zoning code
CR
APN
073W34DA00800
UPID
US71-0890635
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
-
Stacie Chance Medical Clinic
-
Dr. Grace Kao Physician
-
Dr. Jerrod Mitzel Pediatrician Physician
-
Maziar Azadpour Physician
-
Dr. Christine Wung Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.84M
Blend (final)
Blend
$5.70M
Owner & transaction history
Cap Neurosurgery Specialists Prop L · 1 yrs held
Cap Neurosurgery Specialists Prop L
since 2025
Last sale
$7.0M
6 recorded transactions
Zoning & alternative use
CR · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.3M
+30.4%
Auto repair, garage
$5.1M
+5.6%
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
MEDICAL BUILDING
$4,845,000
Current use
RESTAURANT
$6,320,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,115,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$4,550,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$5.70M
Range $5.13M – $6.26M · ±10% · vs last sale $7.00M (Mar 2 2025)
Last sale anchor
$7.00M
Mar 2 2025
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
$397 / 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
Land market value
$629,360
Improvement market value
$2,669,370
Total market value
$3,298,730
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
2014
Heating
NONE
Total area
14,332 SF
Lot
1.24 ac (54,014 SF)
Zoning code
CR
APN
073W34DA00800
UPID
US71-0890635
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.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$4.8M
RESTAURANT
Est. value
$6.3M
AUTO REPAIR, GARAGE
Est. value
$5.1M
OFFICE BUILDING
Est. value
$4.6M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2014
Heating
NONE
Lot
1.24 ac
Current owner
From public records · entity-resolved
Cap Neurosurgery Specialists Prop L
Individual
Mailing address
3959 CROISAN MTN DR S, SALEM, OR 97302-3645
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2025
$7,000,000
Cap Neurosurgery Specialists Prop L
Cory D Redding
Warranty Deed
$3,500,000 · Bank Of The Pacific
Dec 4, 2024
—
Hensley Living Trust
Timothy L Hensley
Deed
related
—
Nov 27, 2024
—
Cory D Redding
Boulder Creek LLC
Bargain & Sale Deed
—
May 11, 2011
—
Boulder Creek LLC
—
Deed Of Trust
related
$1,122,500 · Wells Fargo Bank
Dec 22, 2005
$825,000
Boulder Creek LLC
He Rabe Investment
Warranty Deed
$536,250 · Umpqua Bank
—
—
Boulder Creek LLC
—
Deed Of Trust
related
$120,000 · Umpqua Bk
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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