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    2853 Salem SE Ave Albany, OR 97321-4562
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    Property profile & analytics

    2853 Salem SE Ave Albany, OR 97321-4562

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    • Assisted living facilities
    • 3,591 SF
    • 2.15 lot acres
    Off-Market
    Last Sale Feb 5, 2024
    Property ID
    US71-0566380
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Waverly Place / Nursing Home / Retirement Community
    • Wellness at Home / Nursing Home / Retirement Community

    Property Details for 2853 Salem SE Ave

    Year built
    2016
    Lot size
    2.15 lot acres
    Property size
    3,591 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    11S 03W 05DA 00900
    APU
    11S03W05DA00900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Linn
    State
    Oregon
    Longitude
    -123.073
    Latitude
    44.641
    CBSA code
    10540
    CBSA name
    ALBANY-LEBANON, OR MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $217,034
    $0.00
    $0.00
    $10,896,590
    -
    $581,670
    $17,126,420
    $17,708,090

    Comparable in this City

    • Value Estimation by Request
      151,290 SF

      420 Geri NW St

      HOMES (RETIRED, NURSING) • 151,290 SF
      420 Geri NW St, Albany, OR 97321-1783
      View Details
    • Value Estimation by Request
      22,707 SF

      1023 6th SW Ave

      HOMES (RETIRED, NURSING) • 22,707 SF
      1023 6th SW Ave, Albany, OR 97321-1917
      View Details
    • Value Estimation by Request
      91,798 SF

      601-641 Hickory St

      Restaurants • 91,798 SF
      601-641 Hickory St, Albany, OR 97321
      View Details
    • Value Estimation by Request
      18,136 SF

      633 Albany NW Rd

      MEDICAL BUILDING • 18,136 SF
      633 Albany NW Rd, Albany, OR 97321-1433
      View Details
    • Value Estimation by Request
      5,600 SF

      1040 24th SW Ave

      MEDICAL BUILDING • 5,600 SF
      1040 24th SW Ave, Albany, OR 97321-7539
      View Details
    • Value Estimation by Request
      2,412 SF

      740 Queen SW Ave

      MEDICAL BUILDING • 2,412 SF
      740 Queen SW Ave, Albany, OR 97321
      View Details

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    • $970,000
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      High Visibility Retail/Office Space

      8,000+ SF retail/office on corner lot in Albany.
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    • $699,000
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      Downtown Albany Retail Gem

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    • $950,000
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      Historic Church with Flexible Space

      8,900 sqft historic church suitable for ministry or community programs.
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    • $280,000
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      Residential Land in Albany, Oregon

      Rare 1.35-acre lot ready for your dream home.
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    Similar Nearby for Lease

    • $0.99 SF/Yr
      6,000 SF

      Albany Warehouse with Fenced Yard

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      5,668 SF

      Retail Space in Albany, Oregon

      Retail space available for lease in Albany, Oregon.
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      Two warehouse spaces available between Corvallis and I-5.
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    • Contact for pricing
      3,855 SF

      Class B Office Space Available

      3,855 RSF office space for rent, ample parking.
      804-808 Old Salem Rd NE, Albany, OR 97321
      View Details
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    2853 Salem SE Ave
    Albany, OR 97321-4562
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    2853 Salem SE Ave, Albany, OR, 97321
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