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Property profile & analytics
OFF-MARKET
Estimated value
$1,860,000
Warehouses
3124 Blossom NE Dr, Salem, OR 97305-1106
Entity Owned
2-yr Hold
Free & Clear
Property ID
US71-0903259
Property summary
AI-generated overview
This exceptional 12,000-square-foot flex space, built in 2018, is situated on a one-acre lot at 3124 Blossom Dr NE, Salem, OR 97305. The single-story building boasts a 17-foot ceiling height, ideal for various industrial and commercial uses. Currently, 8,985 square feet are available for lease in a multi-tenant building. The property features five drive-in doors for convenient loading and unloading, and is equipped with 3-phase, 120/208V 200-amp power. Its IG zoning allows for a wide range of permitted uses. Strategically located near Interstate 5, with easy access to both north and southbound ramps via Highway 99 and Chemawa Road, this property offers unparalleled access to the mid-Willamette Valley market. The property's versatile design makes it suitable for businesses of all sizes, from startups to established companies seeking expansion opportunities. This prime location and functional design combine to create a highly desirable commercial space. The address is 3124 Blossom Dr NE, Salem, OR 97305.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2018
Total area
12,000 SF
Lot
1 ac (43,560 SF)
Zoning code
IG
APN
073W01A 02800
UPID
US71-0903259
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.86M
CAP Approach
CAP
$1.97M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.86M
Owner & transaction history
Tug Properties LLC · 2 yrs held
Tug Properties LLC
since 2024
Last sale
$1.9M
5 recorded transactions
Zoning & alternative use
IG · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.0M
+26.7%
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
$1,860,000
ML approach
$1,860,000
CAP Approach
CAP Return
Estimation
6%
$2,130,000
6.5%
$1,970,000
7%
$1,825,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,335,000
Current use
RETAIL STORES
$2,955,000
Change: +27% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$2,155,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$1.86M
Range $1.67M – $2.05M · ±10% · vs last sale $1.86M (Apr 30 2024)
Last sale anchor
$1.86M
Apr 30 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
$155 / 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
$22,361
Tax year 2023
Assessed value
$1,139,310
Assessed 2023
Previous assessed
$1,106,130
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$164,140
Improvement market value
$1,535,270
Total market value
$1,699,410
Applied tax rate
24,950.0000
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
2018
Heating
NONE
Stories
1
Bathrooms
2
Total area
12,000 SF
Lot
1 ac (43,560 SF)
Zoning code
IG
APN
073W01A 02800
UPID
US71-0903259
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
$2.3M
RETAIL STORES
Est. value
$3.0M
INDUSTRIAL (GENERAL)
Est. value
$2.2M
WAREHOUSE, STORAGE Current
RETAIL STORES
INDUSTRIAL (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
2018
Heating
NONE
Stories
1
Bathrooms
2
Lot
1 ac
Current owner
From public records · entity-resolved
Tug Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
9500 S GRIBBLE RD, CANBY, OR 97013-9362
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2024
$1,860,000
Tug Properties LLC
Raymond A Arana
Warranty Deed
—
Apr 25, 2017
$250,000
Raymond A Arana
Costanzo-eiler Investments LLC
Warranty Deed
$629,195 · Willamette Vly Bk
Mar 13, 2006
$175,000
Constanzo-eiler Invs LLC
Blossom Street Dev LLC
Warranty Deed
—
Jun 18, 1991
$35,000
Caroljean Bold
Unknown
Grant Deed
—
—
—
Justin N Arana
—
Loan Modification
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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