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Property profile & analytics
OFF-MARKET
Estimated value
$30,515,000
Assisted living facilities
2950 Boone SE Rd, Salem, OR 97306-9399
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US71-1362482
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2018
Total area
114,647 SF
Lot
5.72 ac (249,163 SF)
Zoning code
RM2; RM1
APN
083W13BA00100
UPID
US71-1362482
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
-
Boone Ridge Senior Living Community Retirement Community
-
HelloCare Salem Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$30.52M
Owner & transaction history
Boone Road Senior Living LLC · 5 yrs held
Boone Road Senior Living LLC
since 2020
Last sale
$30.5M
7 recorded transactions
Zoning & alternative use
RM2; RM1 · 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
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
RESTAURANT
$37,460,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$35,465,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$31,520,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$29,590,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$28,955,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$26,045,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$22,485,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$30.52M
Range $27.46M – $33.57M · ±10% · vs last sale $30.51M (Dec 8 2020)
Last sale anchor
$30.51M
Dec 8 2020
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
$266 / 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
$390,617
Tax year 2023
Assessed value
$19,902,100
Assessed 2023
Previous assessed
$19,322,430
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$1,850,030
Improvement market value
$21,867,910
Total market value
$23,717,940
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2018
Heating
NONE
Total area
114,647 SF
Lot
5.72 ac (249,163 SF)
Zoning code
RM2; RM1
APN
083W13BA00100
UPID
US71-1362482
Jurisdiction
MARION
Zoning & alternative use
RM2; RM1 · Salem, OR
Zoning RM2; RM1 · permitted uses
RM2; RM1 · 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
RESTAURANT
Est. value
$37.5M
AUTO REPAIR, GARAGE
Est. value
$35.5M
MEDICAL BUILDING
Est. value
$31.5M
OFFICE BUILDING
Est. value
$29.6M
COMMERCIAL (GENERAL)
Est. value
$29.0M
INDUSTRIAL (GENERAL)
Est. value
$26.0M
RETAIL STORES
Est. value
$22.5M
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (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
2018
Heating
NONE
Lot
5.72 ac
Current owner
From public records · entity-resolved
Boone Road Senior Living LLC
Entity
Mailing address
1900 HINES ST SE STE #150, SALEM, OR 97302-1338
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
19 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 25, 2021
—
Boone Road Indpnt Living LLC
—
Deed
related
$8,130,000 · Locust Pt Seniors Hsng Debt Fu
Dec 17, 2020
—
Boone Road Senior Living LLC
—
Deed
related
$30,000,000 · Midland States Bk
Dec 8, 2020
$30,513,872
Boone Road Senior Living LLC
Propero III Salem LLC
Grant Deed
$30,000,000 · Midland States Bk
Feb 12, 2018
—
Boone Road Land Sl LLC
—
Deed
related
$1,975,000 · Oregon St Cu
Sep 20, 2017
$2,400,000
Boone Road Land Sl LLC
Kuebler Cascade View LLC
Grant Deed
—
Sep 20, 2017
—
Boone Road Land Sl LLC
—
Deed
related
$1,150,000 · Wafford Family Trust (pt)
Jan 6, 2017
$2,400,000
Boone Road Land Sl LLC
Kuebler Cascade View LLC
Grant Deed
$1,150,000 · Wafford Family Trust (pt)
Oct 4, 2012
—
Kuebler Cascade View LLC
Hales Kuebler Land LLC
Quit Claim Deed
related
—
Oct 4, 2012
$150,000
Kuebler Cascade View LLC
Lees Kuebler Land LLC
Grant Deed
related
—
Aug 27, 2009
$25,000
Fairhavens Kuebler Land LLC
Clark 40 LLC
Grant Deed
—
Aug 2, 2006
$100,000
Altmans Kuebler Land LLC
Clark 40 LLC
Grant Deed
—
Jun 8, 2006
$500,000
Muela Trusts Kuebler Land LLC
Clark 40 LLC
Grant Deed
—
Jun 8, 2006
$123,000
Hilsabecks Kuebler Land LLC
Clark 40 LLC
Grant Deed
—
Mar 24, 2006
$5,700,000
Clark 40 LLC
Clark,ernest G JR & Ruth M
Warranty Deed
related
$2,850,000 · Shorebank Pacific
—
—
Boone Road Senior Living LLC
—
Deed Of Trust
related
$30,000,000 · Midland States Bk
—
—
Boone Road Senior Living LLC
—
Deed Of Trust
related
$4,000,000 · Fjm Senior Living LLC
—
—
Boone Road Indpnt Living LLC
—
Deed Of Trust
related
$8,130,000 · Locust Pt Seniors Hsng Debt Fu
—
—
Boone Road Land Sl LLC
—
Deed Of Trust
related
$1,150,000 · Wafford Family Trust (pt)
—
—
Boone Road Land Sl LLC
—
Deed Of Trust
related
$1,975,000 · Oregon St Cu
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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