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Property profile & analytics
OFF-MARKET Estimated value $4,240,000
Warehouses

2680 Cherry NE Ave Salem, OR 97301-7236

8,000 SF 2.34 ac lot Built 1975
Trust Owned 5-yr Hold Free & Clear
Property ID
US71-0435346
Property profile
Verified
Property type Warehouses
Use group MINI-WAREHOUSE, STORAGE
Year built 1975
Total area 8,000 SF
Lot 2.34 ac (101,930 SF)
Zoning code IP
APN 073W14AC04700
UPID US71-0435346
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
  • Storage Facility Storage Facility
  • U-Haul Neighborhood Dealer Car Rental Facility
  • Cherry Avenue Storage Storage Facility
  • AM-PM Movers Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$4.24M
Owner & transaction history
Douglas Family Trust · 5 yrs held
Douglas Family Trust
since 2020
Last sale
$5.2M
4 recorded transactions
2020
$5.2M
2017
Price N/A
2007
$1.4M
1982
$323,912
Zoning & alternative use
IP · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Industrial and Employment Zone: EC, IC, IBC, and IP Buildings and accessory structures Min. 5 ft. Type A Vehicle use areas Industrial and Employment Zone: IG Buildings and accessory structures Min 10 ft. Type C Vehicle use areas Limitations and Qualifications (1) Zone-to-zone setbacks are not required abutting an alley. (2) Notwithstanding qualification (1)…

Zone name Industrial Park
General category INDUSTRIAL
Zone area 250.49 ac
Source code of ordinances
Top alternative use upside
Restaurant $3.5M +126.7%
Auto repair, garage $2.9M +83.6%
Medical building $2.7M +73.8%
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