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Property profile & analytics
OFF-MARKET
Estimated value
$19,485,000
Distribution centers
2600 Pringle SE Rd, Salem, OR 97302-1534
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US71-0485714
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Total area
104,049 SF
Lot
6.33 ac (275,735 SF)
Zoning code
IP
APN
073W35CC00100
UPID
US71-0485714
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
-
Willamette ESD Early Childhood Center Training Center Tutoring Service
-
Meri’s School High School Daycare Center
-
Paradigm Consulting Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.48M
Blend (final)
Blend
$19.49M
Owner & transaction history
Legacy III Family Limited Partnersh · 3 yrs held
Legacy III Family Limited Partnersh
since 2022
7 recorded transactions
Zoning & alternative use
IP · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$25.6M
+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
$25,245,000
Current use
RETAIL STORES
$25,630,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$25,030,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$19.49M
Range $17.54M – $21.43M · ±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
$187 / 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
$91,960
Tax year 2023
Assessed value
$4,685,400
Assessed 2023
Previous assessed
$4,548,940
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$647,980
Improvement market value
$5,992,890
Total market value
$6,640,870
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Heating
NONE
Stories
1
Total area
104,049 SF
Lot
6.33 ac (275,735 SF)
Zoning code
IP
APN
073W35CC00100
UPID
US71-0485714
Jurisdiction
MARION
Zoning & alternative use
IP · Salem, OR
Zoning IP · permitted uses
IP · 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
$25.2M
RETAIL STORES
Est. value
$25.6M
COMMERCIAL (GENERAL)
Est. value
$25.0M
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
Heating
NONE
Stories
1
Lot
6.33 ac
Current owner
From public records · entity-resolved
Legacy III Family Limited Partnersh
Individual
Mailing address
PO BOX 4174, SALEM, OR 97302-8174
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
20 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2022
—
Legacy III Family Limited Partnersh
Nathan J Levin
Re-recorded Document
related
—
Apr 13, 2022
—
Legacy II Family Limited Partnershi
—
Deed
related
$3,320,000 · Columbia State Bank
Jul 26, 2018
—
Co Acquisition Prop Xvi LLC
Mcgraths Publick Fish Hse LLC
Deed In Lieu Of Foreclosure
related
—
Jul 25, 2016
—
Nathan J Levin
—
Deed
related
$1,100,000 · Bank Of The Pacific
Mar 10, 2016
—
Nathan J Levin
Elm Holdings LLC
Warranty Deed
related
$3,220,000 · Bank Of The Pacific
Jan 15, 2014
—
Elm Holdings LLC
Meurer,eric
Quit Claim Deed
related
—
Dec 31, 2013
$2,800,000
Eric Meurer
Pringle LLC
Warranty Deed
—
Jan 21, 2004
—
Pringle LLC
—
Trustees Deed
related
$372,000 · Aspen Chemawa LLC
May 8, 1998
—
Morrow Snowboards INC
—
Deed Of Trust
related
$10,000,000 · Foothill Capital
Mar 12, 1996
$1,248,990
Morrow Snowboards INC
Eagle Exchange Corp
Trustees Deed
—
Mar 12, 1996
$1,200,010
Morrow Snowboards INC
Hasso,may S
Trustees Deed
—
Mar 5, 1996
—
Eagle Exchange Corp
Colson & Colson Const Co
Trustees Deed
related
—
Feb 14, 1996
—
May S Hasso
Pr Investors Limited Liability
Grant Deed
related
—
Jul 29, 1994
$1,750,000
P R Investors LLC
Moore Business F
Grant Deed
—
—
—
Morrow Snowboards INC
—
Deed Of Trust
related
$675,000 · Individual
—
—
Nathan J Levin
—
Deed Of Trust
related
$1,100,000 · Bank Of The Pacific
—
—
Morrow Snowboards INC
—
Deed Of Trust
related
$2,100,000 · Pacific Crest Inv & Loan
—
—
Morrow Snowboards
—
Deed Of Trust
related
$2,500,000 · Robert K Morrow INC Trustee
—
—
Morrow Snowboards INC
—
Deed Of Trust
related
$18,000 · Lasalle Business Credit INC
—
—
Morrow Snowboards INC
—
Deed Of Trust
related
$10,000 · Foothill Capital
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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