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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Retail properties & Spaces
2775 Cherry NE Ave, Salem, OR 97301-0032
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US71-0649682
Property summary
AI-generated overview
This exceptional owner-user opportunity presents a versatile 8,378-square-foot industrial warehouse ideally suited for automotive repair or restoration. Located at 2775 Cherry Ave NE in Salem, Oregon (97301), this property sits on a 0.47-acre lot zoned IG. The main building boasts 5,665 square feet of warehouse space featuring four 12x12 overhead doors, providing ample vehicle access. An additional 2,041 square feet of office space is included, along with a 672-square-foot adjacent storage building. The office area comfortably accommodates five private offices, two restrooms (one with a shower), a break room/kitchen, and a paint booth. A 576-square-foot mezzanine offers extra storage, not included in the total square footage. Built in 1967, this property is offered at $1,150,000 with a NNN lease type. This single-tenancy building presents a unique opportunity to own a well-equipped and strategically located industrial property. The property's combination of warehouse, office, and shop space makes it an attractive investment for a variety of businesses.
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1967
Total area
7,706 SF
Lot
0.47 ac (20,473 SF)
Zoning code
IG
APN
073W14BD00200
UPID
US71-0649682
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
-
Mini Motors-Classic Coachworks Auto Repair Shop Vehicle Inspection Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$836k
Blend (final)
Blend
$750k
Owner & transaction history
Abc Shelter Interprise LLC · 1 yrs held
Abc Shelter Interprise LLC
since 2025
Last sale
$750,000
3 recorded transactions
Zoning & alternative use
IG · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$755,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$1,235,000
Current use
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $750k (Mar 4 2025)
Last sale anchor
$750k
Mar 4 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
$97 / 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
$6,229
Tax year 2023
Assessed value
$317,360
Assessed 2023
Previous assessed
$308,120
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$76,750
Improvement market value
$460,170
Total market value
$536,920
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1967
Heating
NONE
Buildings
2
Stories
1
Total area
7,706 SF
Lot
0.47 ac (20,473 SF)
Zoning code
IG
APN
073W14BD00200
UPID
US71-0649682
Jurisdiction
MARION
Zoning & alternative use
IG · Salem, OR
Zoning IG · permitted uses
IG · 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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$1.2M
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
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
1967
Heating
NONE
Stories
1
Buildings
2
Lot
0.47 ac
Current owner
From public records · entity-resolved
Abc Shelter Interprise LLC
Entity
Mailing address
2775 CHERRY AVE NE, SALEM, OR 97301-0032
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2025
$750,000
Abc Shelter Interprise LLC
Rex L Urban
Warranty Deed
$400,000 · Rex L Urban Etal
Apr 14, 2009
$135,000
Rex L Urban
Eyre Ralph M Trust
Warranty Deed
—
Mar 10, 1987
$135,000
Eyre,ralph M Trustee
Unknown
Grant Deed
—
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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