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Property profile & analytics
FOR LEASE
Community centers
285 Liberty St NE Salem, OR 97301
Entity Owned
2-yr Hold
Free & Clear
Property ID
US71-0660608
For Lease
1 / 2
Contact for pricing
285 Liberty St NE, Salem, OR 97301
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Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1954
Total area
80,724 SF
Lot
0.47 ac (20,473 SF)
Zoning code
CB
APN
073W22DC07200
UPID
US71-0660608
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
-
T. Y. Lin International Civil Engineer
-
Liberty Plaza Shopping Center & Mall
-
Testosterone HGH RadiantVita Medical group Medical Clinic
-
Corporation Service Company Law Firm
-
Serenity Palliative Care Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
The Forge In Salem LLC · 2 yrs held
The Forge In Salem LLC
since 2024
7 recorded transactions
Zoning & alternative use
CB · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
CHAPTER 524. - CB-CENTRAL BUSINESS DISTRICT Sec. 524.001. - Purpose. The purpose of the Central Business District (CB) Zone is to implement the central business district designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards. The CB zone serves Salem and the region as a princ…
Zone name
Central Business District
General category
COMMERCIAL
Zone area
134.02 ac
Source
code of ordinances
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$108,465
Tax year 2023
Assessed value
$5,662,860
Assessed 2023
Previous assessed
$5,662,860
+0.0% YoY
Effective rate
1.92%
On assessed value
Land market value
$619,200
Improvement market value
$5,043,660
Total market value
$5,662,860
Applied tax rate
24,970.0000
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1954
Heating
NONE
Stories
1
Total area
80,724 SF
Lot
0.47 ac (20,473 SF)
Zoning code
CB
APN
073W22DC07200
UPID
US71-0660608
Jurisdiction
MARION
Zoning & alternative use
CB · Salem, ORZoning CB · permitted uses
CB · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
CHAPTER 524. - CB-CENTRAL BUSINESS DISTRICT Sec. 524.001. - Purpose. The purpose of the Central Business District (CB) Zone is to implement the central business district designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards. The CB zone serves Salem and the region as a principal center of business and commerce. It allows a compact arrangement of retail and commercial enterprises together with office, financial, cultural, entertainment, governmental, and residential use designed and situated to afford convenient access by pedestrians. (Prior Code, § 524.001; Ord. No. 31-13)
Zone name
Central Business District
General category
COMMERCIAL
Zone area
134.02 ac
Source
code of ordinances
Building & site characteristics
From public records
Year built
1954
Heating
NONE
Stories
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
The Forge In Salem LLC
Entity
Free & Clear · 2 yrs held
Mailing address
360 BELMONT ST NE, SALEM, OR 97301-1006
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 19, 2026
—
Forge In Salem LLC
—
Deed
related
$12,300,000 · Zb NA
Oct 24, 2024
—
The Forge In Salem LLC
—
Deed
related
$10,199,392 · Peoples Bank Of Commerce
Apr 22, 2024
—
The Forge In Salem LLC
Chemawa Garden Apartments LLC
Deed
—
Aug 31, 2023
$5,000,000
Chemawa Garden Apartments LLC
Chemawa Garden Apartments LLC
Special Warranty Deed
$2,940,000 · Columbia State Bank
Dec 29, 2016
—
Saba Investments INC
—
Deed
related
$2,035,000 · Regents Bk
Jan 5, 2005
—
Fox Harvey H & Dorothy E Trust
Fox Harvey H Trust
Quit Claim Deed
related
—
Oct 15, 1996
—
Saba Investments INC
—
Grant Deed
related
$3,900,000 · Us National Bank Oregon
Jun 15, 1995
$810,000
Saba Investments INC
Heidgerken,george F & Jacalyn R
Grant Deed
—
Apr 3, 1991
$600,000
George F Heidgerken
Unknown
Grant Deed
—
—
—
Saba Investments INC
—
Loan Modification
related
$2,100,000 · Us Bk
—
—
Newberry LLC
—
Deed Of Trust
related
$400,000 · Urban Renewal Agy Salem (or)
—
—
Saba Investments INC
—
Deed Of Trust
related
$3,900,000 · Us Bank NA
—
—
Saba Investments INC
—
Deed Of Trust
related
$2,100,000 · Us Bank NA
—
—
Saba Investments INC
—
Loan Modification
related
$3,900,000 · Us Bk
—
—
Saba Investments INC
—
Deed Of Trust
related
$2,035,000 · Regents Bk
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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