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Property profile & analytics
OFF-MARKET
Estimated value
$1,840,000
Manufacturing properties
2892 Howell Pr NE Rd Salem, OR 97305-9655
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US71-0489216
Property profile
Verified
Property type
Manufacturing properties
Use group
MILL (FEED, GRAIN, LUMBER, TEXTILE)
Year built
1962
Construction
METAL FRAME
Total area
4,620 SF
Lot
12.69 ac (552,776 SF)
Zoning code
EFU
APN
072W13 00600
UPID
US71-0489216
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
-
Pratum Cooperative Chemical Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.84M
Owner & transaction history
Pratum Co-op · 11 yrs held
Pratum Co-op
since 2014
7 recorded transactions
Zoning & alternative use
EFU · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ck (Table 525-5) Vehicle Use Areas All uses Zone-to-zone setback (Table 525-5) TABLE 525-5 ZONE-TO-ZONE SETBACKS Table 525-5: Zone-to-Zone Setbacks Abutting Zone Type of Improvement Setback (1) Landscaping and Screening EFU Buildings and accessory structures Min. 5 ft. Type A Vehicle use areas Residential Zone Buildings and accessory structures Min. 10 ft. T…
Zone name
Exclusive Farm Use
General category
AGRICULTURAL
Zone area
155.79 ac
Source
code of ordinances
Top alternative use upside
Auto repair, garage
$1.7M
+98.9%
Medical building
$1.6M
+88.3%
Office building
$1.3M
+54.6%
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
AUTO REPAIR, GARAGE
$1,650,000
Change: +99% · Conversion: Easy
MEDICAL BUILDING
$1,560,000
Change: +88% · Conversion: Difficult
OFFICE BUILDING
$1,280,000
Change: +55% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,210,000
Change: +46% · Conversion: Difficult
RETAIL STORES
$1,140,000
Change: +37% · Conversion: Moderate
Blend value · Realmo final
$1.84M
Range $1.66M – $2.02M · ±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
$398 / 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
$23,457
Tax year 2023
Assessed value
$1,805,227
Assessed 2023
Previous assessed
$1,813,330
-0.4% YoY
Effective rate
1.30%
On assessed value
Land market value
$374,150
Improvement market value
$1,649,840
Total market value
$2,023,990
Applied tax rate
40,410.0000
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
Manufacturing properties
Use group
MILL (FEED, GRAIN, LUMBER, TEXTILE)
Status
Off-Market
Year built
1962
Construction
METAL FRAME
Heating
NONE
Stories
1
Bathrooms
1
Total area
4,620 SF
Lot
12.69 ac (552,776 SF)
Zoning code
EFU
APN
072W13 00600
UPID
US71-0489216
Jurisdiction
MARION
Zoning & alternative use
EFU · Salem, ORZoning EFU · permitted uses
EFU · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ck (Table 525-5) Vehicle Use Areas All uses Zone-to-zone setback (Table 525-5) TABLE 525-5 ZONE-TO-ZONE SETBACKS Table 525-5: Zone-to-Zone Setbacks Abutting Zone Type of Improvement Setback (1) Landscaping and Screening EFU Buildings and accessory structures Min. 5 ft. Type A Vehicle use areas Residential Zone Buildings and accessory structures Min. 10 ft. Type B Vehicle use areas Mixed-Use Zone Buildings and accessory structures None NA V
Zone name
Exclusive Farm Use
General category
AGRICULTURAL
Zone area
155.79 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1962
Construction
METAL FRAME
Heating
NONE
Stories
1
Bathrooms
1
Lot
12.69 ac
Current owner
From public records · entity-resolved
Pratum Co-op
Entity
Mailing address
PO BOX 13009, SALEM, OR 97309-3009
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2014
—
Pratum Co-op
Pratum Co-op Warehouse
Quit Claim Deed
related
$1,500,000 · Columbia St Bk
Jan 4, 2013
—
Pratum Co-op Warehouse
—
Deed Of Trust
related
$12,563,541 · West Coast Bank
Oct 6, 2010
—
Pratum Co-op Warehouse
—
Deed Of Trust
related
$2,730,000 · West Coast Bank
Mar 26, 2009
—
Pratum Co-op Warehouse
—
Deed Of Trust
related
$6,000,000 · West Coast Bank
May 27, 2005
$400,000
Pratum Co-op Warehouse
Steffen,richard A & Aaltje E
Warranty Deed
—
Apr 1, 1997
—
Richard A Steffen
Hofstetter,dwayne K
Grant Deed
related
—
—
—
Pratum Co-op Warehouse
—
Deed Of Trust
related
—
—
—
Pratum Co-op Warehouse
—
Deed Of Trust
related
$248,000 · West Coast Bank
—
—
Pratum Co-op Warehouse
—
Deed Of Trust
related
$3,360,000 · West Coast Bank
—
—
Pratum Co-op
—
Deed Of Trust
related
$2,200,000 · Columbia St 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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