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Property profile & analytics
FOR LEASE
Office buildings
2493 State St, Salem, OR 97301
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US71-0216424
For Lease
$28 SF/Yr
2493 State St, Salem, OR 97301
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1877
Total area
2,932 SF
Lot
0.38 ac (16,553 SF)
Zoning code
MUII
APN
073W26DA00700
UPID
US71-0216424
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
-
Guyette Jody PhD Physician Medical Clinic
-
Dr. Ross Quackenbush Physician Medical Clinic
-
Crawford Justine PHD Physician Medical Clinic
-
Salem Neurofeedback Center Medical Group
-
Maribeth Kallemeyn, PhD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$665k
Comparable Approach
Comparable
$651k
Blend (final)
Blend
$575k
Owner & transaction history
Salem Property Investments LLC · 2 yrs held
Salem Property Investments LLC
since 2023
Last sale
$475,000
7 recorded transactions
Zoning & alternative use
MUII · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$830,000
+10.0%
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
$535,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$720,000
6.5%
$665,000
7%
$615,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$755,000
Current use
COMMERCIAL (GENERAL)
$830,000
Change: +10% · Conversion: Easy
RETAIL STORES
$720,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$575k
Range $518k – $633k · ±10% · vs last sale $475k (Jul 27 2023)
Last sale anchor
$475k
Jul 27 2023
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
$196 / 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
$5,910
Tax year 2023
Assessed value
$301,140
Assessed 2023
Previous assessed
$292,370
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$150,650
Improvement market value
$318,500
Total market value
$469,150
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
For Lease
Year built
1877
Heating
NONE
Stories
1
Total area
2,932 SF
Lot
0.38 ac (16,553 SF)
Zoning code
MUII
APN
073W26DA00700
UPID
US71-0216424
Jurisdiction
MARION
Zoning & alternative use
MUII · Salem, OR
Zoning MUII · permitted uses
MUII · 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
OFFICE BUILDING Current
Est. value
$755,000
COMMERCIAL (GENERAL)
Est. value
$830,000
RETAIL STORES
Est. value
$720,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1877
Heating
NONE
Stories
1
Lot
0.38 ac
Current owner
From public records · entity-resolved
Salem Property Investments LLC
Entity
Mailing address
3416 ALDOUS AVE S, SALEM, OR 97302-3602
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 27, 2023
$475,000
Salem Property Investments LLC
Ross A Quackenbush
Warranty Deed
—
Dec 30, 2019
—
Quackenbush,ross & Beth Trust
Ross A Quackenbush
Quit Claim Deed
related
—
May 15, 2009
$131,000
Michael C Sweet
Depenbrock Irene D Trust
Grant Deed
—
May 15, 2009
—
Irene D Living Depenbrock
Depenbrock,irene D
Quit Claim Deed
related
—
Mar 6, 2001
$155,000
Ross A Quackenbush
Beneficial Mortgage Co
Grant Deed
$121,800 · Us Bank NA
—
—
Ross A Quackenbush
—
Deed Of Trust
related
$216,000 · Professional Mortgage INC
—
—
Ross A Quckenbush
—
Deed Of Trust
related
$213,150 · Professional Mortgage INC
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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