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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    301 Westfield St Silverton, OR 97381

    • Grocery and convenience stores
    • 35,357 SF
    • 3.81 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0845568
    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.

    Current Use by Public Records

    • TNT Fireworks / Fireworks Store / Store
    • Redbox / Movie Rental Store / Movie Rental Kiosk
    • Starbucks / Coffee Shop / Cafe
    • Wells Fargo ATM / Atm
    • Western Union / Money Transfer Service

    Property Details for 301 Westfield St

    Year built
    1995
    Lot size
    3.81 lot acres
    Property size
    35,357 SF
    Zone code
    GC
    Property type
    Grocery and convenience stores
    APN
    061W34DB06300
    APU
    061W34DB06300

    Description

    Silverton Plaza, a thriving retail center in Marion County, offers exceptional leasing opportunities. This mixed-use commercial property boasts a total of 30,562 square feet, with three suites currently available. The minimum leasable space is 962 square feet, while the maximum contiguous space available is 10,000 square feet. A significant portion of the building, totaling 17,962 square feet, is currently vacant and ready for immediate occupancy. The property benefits from strong anchor tenants, including Safeway and Dollar Tree, ensuring high foot traffic and visibility. A diverse and established tenant mix further enhances the property's appeal, with co-tenants such as Verizon Wireless, Papa Murphy's, Domino's Pizza, Willamette Valley Bank, Canine Paradigm, and Dutch Bros. This prime location presents a unique chance for businesses seeking high-traffic exposure and a vibrant commercial environment. The property's strategic positioning within Marion County offers excellent access to a substantial customer base. Contact us today to explore the leasing options and secure your space in this successful retail center. Spaces are available immediately.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,932,000
      Market price range: $2.62M - $10.4M
      AI Estimate
      $6,932,000
      Market price range: $2.62M - $10.4M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $6,975,000
      Current use
      MEDICAL BUILDING
      $11,365,000
      Change: +63% Conversion: Difficult
      RESTAURANT
      $10,750,000
      Change: +54% Conversion: Easy
      OFFICE BUILDING
      $9,665,000
      Change: +39% Conversion: Easy
      COMMERCIAL (GENERAL)
      $7,055,000
      Change: +1% Conversion: Easy
      WAREHOUSE, STORAGE
      $6,795,000
      Change: -3% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $6,345,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Silverton
    County
    Marion
    State
    Oregon
    Longitude
    -122.793
    Latitude
    45.0032
    CBSA code
    41420
    CBSA name
    SALEM, OR METROPOLITAN 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
    2021
    $52,415
    $0.00
    $0.00
    $3,318,760
    -
    $1,367,410
    $3,451,850
    $4,819,260

    Comparable in this City

    • Value Estimation by Request
      2,094 SF

      1787 Pne St

      CONVENIENCE STORE • 2,094 SF
      1787 Pne St, Silverton, OR 97381-9608
      View Details
    • Value Estimation
      $8,405,000
      42,184 SF

      918 1st St

      GROCERY, SUPERMARKET • 42,184 SF
      918 1st St, Silverton, OR 97381-1267
      View Details
    • Value Estimation by Request
      2,184 SF

      800 Oak St

      CONVENIENCE STORE • 2,184 SF
      800 Oak St, Silverton, OR 97381-1845
      View Details
    • Value Estimation by Request
      1,960 SF

      1205 Water St

      CONVENIENCE STORE • 1,960 SF
      1205 Water St, Silverton, OR 97381-2425
      View Details
    • Value Estimation
      $5,830,000
      19,800 SF

      701 Mcclaine St

      RETAIL STORES (PERSONAL SERVICES) • 19,800 SF
      701 Mcclaine St, Silverton, OR 97381-1545
      View Details
    • Value Estimation
      $975,000
      12,300 SF

      208 Main St

      RETAIL STORES (PERSONAL SERVICES) • 12,300 SF
      208 Main St, Silverton, OR 97381-1615
      View Details

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      Silverton Retail Space - Prime Location

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    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      Retail Space in Silverton Plaza

      Retail space available in Silverton Plaza anchored by Safeway.
      301-365 Westfield St, Silverton, OR 97381
      View Details
    • Contact for pricing
      962 SF

      Retail Space in Silverton Plaza

      Retail space available in Silverton Plaza anchored by Safeway.
      703 Mcclaine St, Silverton, OR 97381
      View Details
    • Contact for pricing
      30,562 SF

      Silverton Plaza Retail Space Available

      High-traffic retail center; spaces from 962-10,000 sq ft.
      301 Westfield St, Silverton, OR 97381
      View Details
    • $0.47 SF/Yr
      115,860 SF

      Silverton Food Processing Facility

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    Silverton, OR 97381
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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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