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Property profile & analytics
OFF-MARKET
Estimated value
$10,555,000
Medical Office Space
3099 Riv S Rd Salem, OR 97302-9754
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US71-0418738
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2000
Total area
23,054 SF
Lot
3.29 ac (143,312 SF)
Zoning code
CR
APN
073W33CC00800
UPID
US71-0418738
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
-
Mindy Dimitri Physician
-
Dr. Clark R. Thompson, MD Physician
-
Willamette ENT & Facial Plastic Surgery Medical Clinic
-
Johnson Bruce C MD Physician
-
Gary J. NishiokaMD, DMD, FARS, FAAOA Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.92M
Blend (final)
Blend
$10.56M
Owner & transaction history
Willamette Medical Investors LLC · 1 yrs held
Willamette Medical Investors LLC
since 2025
7 recorded transactions
Zoning & alternative use
CR · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the Commercial Retail (CR) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards. The CR zone generally allows a wide array of retail sales and office uses.
Zone name
Retail Commercial
General category
COMMERCIAL
Zone area
453.73 ac
Source
Realmo
Top alternative use upside
Restaurant
$10.2M
+30.4%
Auto repair, garage
$8.2M
+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
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
MEDICAL BUILDING
$7,790,000
Current use
RESTAURANT
$10,165,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,230,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$7,315,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$10.56M
Range $9.50M – $11.61M · ±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
$458 / 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
$139,144
Tax year 2023
Assessed value
$7,089,460
Assessed 2023
Previous assessed
$6,882,980
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$1,029,480
Improvement market value
$7,656,220
Total market value
$8,685,700
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
2000
Heating
NONE
Buildings
2
Stories
1
Total area
23,054 SF
Lot
3.29 ac (143,312 SF)
Zoning code
CR
APN
073W33CC00800
UPID
US71-0418738
Jurisdiction
MARION
Zoning & alternative use
CR · Salem, ORZoning CR · permitted uses
CR · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the Commercial Retail (CR) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards. The CR zone generally allows a wide array of retail sales and office uses.
Zone name
Retail Commercial
General category
COMMERCIAL
Zone area
453.73 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$7.8M
RESTAURANT
Est. value
$10.2M
AUTO REPAIR, GARAGE
Est. value
$8.2M
OFFICE BUILDING
Est. value
$7.3M
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
2000
Heating
NONE
Stories
1
Buildings
2
Lot
3.29 ac
Current owner
From public records · entity-resolved
Willamette Medical Investors LLC
Entity
Mailing address
3099 RIV RD S #150, SALEM, OR 97302-9754
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 21, 2025
$5,610,000
Willamette Medical Investors LLC
Srr Dp LLC
Warranty Deed
$6,720,000 · American National Bank & Trust
May 21, 2025
—
Srr Dp LLC
South River Road LLC
Warranty Deed
—
Mar 27, 2020
—
South River Road LLC
—
Deed
related
$6,960,000 · Keybank USA
Mar 5, 2008
—
City Of Salem
South River Road Medical LLC
Warranty Deed
related
—
—
—
South River Road LLC
—
Deed Of Trust
related
$6,960,000 · Keybank USA
—
—
South River Road LLC
—
Deed Of Trust
related
—
—
—
South River Road LLC
—
Deed Of Trust
related
—
—
—
South River Road LLC
—
Deed Of Trust
related
—
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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