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Property profile & analytics
OFF-MARKET
Estimated value
$3,875,000
Warehouses
2551 Pringle SE Rd, Salem, OR 97302-1531
Entity Owned
~
Est. High Equity
Property ID
US71-0715810
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1980
Total area
10,000 SF
Lot
1.11 ac (48,352 SF)
Zoning code
IC
APN
073W35CB02600
UPID
US71-0715810
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
-
Community Action Weatherization Services Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.43M
Blend (final)
Blend
$3.88M
Owner & transaction history
Laing Leasing LLC
Laing Leasing LLC
since 2026
Last sale
$5.3M
2 recorded transactions
Zoning & alternative use
IC · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.4M
+81.7%
Auto repair, garage
$3.6M
+47.1%
Medical building
$3.4M
+39.3%
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
$2,425,000
Current use
RESTAURANT
$4,410,000
Change: +82% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,570,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$3,380,000
Change: +39% · Conversion: Difficult
OFFICE BUILDING
$3,175,000
Change: +31% · Conversion: Difficult
RETAIL STORES
$2,465,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,405,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$3.88M
Range $3.49M – $4.26M · ±10% · vs last sale $5.33M (Feb 2 2026)
Last sale anchor
$5.33M
Feb 2 2026
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
$388 / 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
$290,110
Improvement market value
$322,790
Total market value
$612,900
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1980
Heating
NONE
Stories
1
Total area
10,000 SF
Lot
1.11 ac (48,352 SF)
Zoning code
IC
APN
073W35CB02600
UPID
US71-0715810
Jurisdiction
MARION
Zoning & alternative use
IC · Salem, OR
Zoning IC · permitted uses
IC · 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
$2.4M
RESTAURANT
Est. value
$4.4M
AUTO REPAIR, GARAGE
Est. value
$3.6M
MEDICAL BUILDING
Est. value
$3.4M
OFFICE BUILDING
Est. value
$3.2M
RETAIL STORES
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.4M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
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
1980
Heating
NONE
Stories
1
Lot
1.11 ac
Current owner
From public records · entity-resolved
Laing Leasing LLC
Entity
Mailing address
707 SW WASHINGTON ST STE #934, PORTLAND, OR 97205-3526
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2026
$5,325,000
Laing Leasing LLC
Mcgraw Holdings LLC
Special Warranty Deed
$808,000 · Summit Bank
Dec 20, 2006
$3,100,000
Mcgraw Holdings LLC
H E Rabe Investment
Warranty 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.
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