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Property profile & analytics
OFF-MARKET
Estimated value
$5,370,000
Medical Office Space
2973 12th SE St, Salem, OR 97302-3162
Individually Owned
1-yr Hold
Free & Clear
Property ID
US71-0881787
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2012
Total area
11,341 SF
Lot
1.35 ac (58,806 SF)
Zoning code
CG
APN
073W34DD07100
UPID
US71-0881787
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
-
Erika Mccarthy Physician Medical Clinic
-
Philip Rosen Physician Medical Clinic
-
Willamette urology Medical Clinic Physician
-
JOHN MARK MHOON Physician Medical Clinic
-
Vitaly Layvant Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.37M
Blend (final)
Blend
$5.37M
Owner & transaction history
Salem Health Hospitals & Clinics · 1 yrs held
Salem Health Hospitals & Clinics
since 2024
Last sale
$5.4M
6 recorded transactions
Zoning & alternative use
CG · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.0M
+30.4%
Auto repair, garage
$4.1M
+5.6%
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
$5,370,000
ML approach
$5,370,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,835,000
Current use
RESTAURANT
$5,000,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,050,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$3,600,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$5.37M
Range $4.83M – $5.91M · ±10% · vs last sale $5.37M (Dec 13 2024)
Last sale anchor
$5.37M
Dec 13 2024
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
$474 / 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
$38,323
Tax year 2023
Assessed value
$1,952,570
Assessed 2023
Previous assessed
$1,895,700
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$808,590
Improvement market value
$2,247,670
Total market value
$3,056,260
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
2012
Heating
NONE
Stories
1
Total area
11,341 SF
Lot
1.35 ac (58,806 SF)
Zoning code
CG
APN
073W34DD07100
UPID
US71-0881787
Jurisdiction
MARION
Zoning & alternative use
CG · Salem, OR
Zoning CG · permitted uses
CG · 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
MEDICAL BUILDING Current
Est. value
$3.8M
RESTAURANT
Est. value
$5.0M
AUTO REPAIR, GARAGE
Est. value
$4.1M
OFFICE BUILDING
Est. value
$3.6M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2012
Heating
NONE
Stories
1
Lot
1.35 ac
Current owner
From public records · entity-resolved
Salem Health Hospitals & Clinics
Individual
Free & Clear · 1 yrs held
Mailing address
2973 12TH ST SE, SALEM, OR 97302-3162
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 13, 2024
$5,370,000
Salem Health Hospitals & Clinics
Willamette Urology Properties LLC
Warranty Deed
—
Jul 30, 2018
—
Willamette Urology Prop LLC
—
Deed
related
$2,750,000 · Columbia St Bk
Dec 23, 2011
—
Willamette Urology Props LLC
—
Deed Of Trust
related
$2,750,000 · West Coast Bank
Feb 23, 2011
—
Willamette Urology Props LLC
—
Grant Deed
related
$2,750,000 · Us Bank NA
May 20, 2004
$675,000
Richard H Warnisk
Handyman Stores INC
Grant Deed
$578,000 · Umpqua Bank
—
—
Willamette Urology Prop LLC
—
Loan Modification
related
$2,750,000 · 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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