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Property profile & analytics
OFF-MARKET
Estimated value
$5,045,000
Warehouses
3080 22nd SE St, Salem, OR 97302-6300
Trust Owned
17-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-0827892
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1994
Total area
18,220 SF
Lot
1.67 ac (72,745 SF)
Zoning code
IG
APN
083W02AB02900
UPID
US71-0827892
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
-
Johnstone Supply Big Box & Wholesale Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.05M
Blend (final)
Blend
$5.05M
Owner & transaction history
Garrison Family Trust · 17 yrs held
Garrison Family Trust
since 2009
5 recorded transactions
Zoning & alternative use
IG · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.0M
+81.7%
Auto repair, garage
$6.5M
+47.1%
Medical building
$6.2M
+39.3%
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
WAREHOUSE, STORAGE
$4,420,000
Current use
RESTAURANT
$8,030,000
Change: +82% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,505,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$6,160,000
Change: +39% · Conversion: Difficult
OFFICE BUILDING
$5,785,000
Change: +31% · Conversion: Difficult
RETAIL STORES
$4,490,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,385,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$5.05M
Range $4.54M – $5.55M · ±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
$277 / 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
$23,817
Tax year 2023
Assessed value
$1,213,500
Assessed 2023
Previous assessed
$1,178,160
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$272,550
Improvement market value
$1,103,160
Total market value
$1,375,710
Applied tax rate
24,990.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1994
Heating
NONE
Stories
1
Total area
18,220 SF
Lot
1.67 ac (72,745 SF)
Zoning code
IG
APN
083W02AB02900
UPID
US71-0827892
Jurisdiction
MARION
Zoning & alternative use
IG · Salem, OR
Zoning IG · permitted uses
IG · 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
WAREHOUSE, STORAGE Current
Est. value
$4.4M
RESTAURANT
Est. value
$8.0M
AUTO REPAIR, GARAGE
Est. value
$6.5M
MEDICAL BUILDING
Est. value
$6.2M
OFFICE BUILDING
Est. value
$5.8M
RETAIL STORES
Est. value
$4.5M
COMMERCIAL (GENERAL)
Est. value
$4.4M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1994
Heating
NONE
Stories
1
Lot
1.67 ac
Current owner
From public records · entity-resolved
Garrison Family Trust
Trust
Free & Clear · 17 yrs held
Mailing address
16650 SW 72ND AVE, TIGARD, OR 97224-7775
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2009
—
Garrison Family Trust
Garrison,don C
Quit Claim Deed
related
—
Nov 8, 2002
$1,080,000
Passe-salem LLC
Gossack,edward T
Grant Deed
$864,000 · Key Bank NA
Jun 16, 1994
$613,800
In-shape Int'l INC
Pence/kelly Cons
Grant Deed
$268,000 · Cascades West Fin'l
—
—
Passe-salem LLC
—
Deed Of Trust
related
$583,093 · Key Bank & Trust
—
—
In-shape International INC
—
Deed Of Trust
related
$30,792 · Farleigh Wada & Witt PC
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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