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    Property profile & analytics

    315 Westfield St Silverton, OR 97381-1936

    • Retail space
    • 8,100 SF
    • 1.29 lot acres
    OFF-MARKET
    Value Estimations
    $1,935,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0397787
    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

    • Canine Paradigm llc / Pet Grooming Service

    Property Details for 315 Westfield St

    Year built
    1994
    Lot size
    1.29 lot acres
    Property size
    8,100 SF
    Zone code
    GC
    Property type
    Retail space
    APN
    061W34DB06400
    APU
    061W34DB06400

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,935,000
      Market price range: $600k - $2.38M
      AI Estimate
      $1,935,000
      Market price range: $600k - $2.38M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,600,000
      Current use
      AUTO REPAIR, GARAGE
      $2,890,000
      Change: +81% Conversion: Difficult
      MEDICAL BUILDING
      $2,605,000
      Change: +63% Conversion: Difficult
      RESTAURANT
      $2,465,000
      Change: +54% Conversion: Easy
      OFFICE BUILDING
      $2,215,000
      Change: +39% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,615,000
      Change: +1% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,555,000
      Change: -3% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,455,000
      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
    -122.794
    Latitude
    45.0037
    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
    $14,632
    $0.00
    $0.00
    $926,480
    -
    $465,380
    $1,144,800
    $1,610,180

    Comparable in this City

    • 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
    • Value Estimation
      $650,000
      8,459 SF

      211 Oak St

      RETAIL STORES (PERSONAL SERVICES) • 8,459 SF
      211 Oak St, Silverton, OR 97381-1616
      View Details
    • Value Estimation by Request
      5,800 SF

      106 1st St

      RETAIL STORES (PERSONAL SERVICES) • 5,800 SF
      106 1st St, Silverton, OR 97381-1602
      View Details
    • Value Estimation by Request
      4,568 SF

      204 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,568 SF
      204 Main St, Silverton, OR 97381-1615
      View Details
    • Value Estimation by Request
      3,394 SF

      201 Water St

      RETAIL STORES (PERSONAL SERVICES) • 3,394 SF
      201 Water St, Silverton, OR 97381-1621
      View Details

    Similar Nearby for Sale

    • $1,300,000
      6,480 SF

      Silverton Retail Space - Prime Location

      Restaurant w/Patio, Seller Financing Available
      Silverton, OR 97381
      View Details
    • $350,000

      Residential Land with Shop Building

      0.71-acre lot with shop, mobile home, new septic system.
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      View Details
    • $439,000
      28.25 Acres

      Land Near Silverton, Oregon

      28.25 acre land parcel with approved building site.
      Powers Creek Loop Rd N, Silverton, OR 97381
      View Details
    • $4,199,000
      460.00 Acres

      460 Acres Near Silverton, Oregon

      Large acreage with timber, potential building sites near Salem.
      Large Abiqua Dam Rd, Silverton, OR 97381
      View Details
    • $900,000
      4,012 SF

      Silverton Church Property on 1.5+ Acres

      Well-maintained church property with ample parking and excellent visibility.
      1726 Pine St, Silverton, OR 97381
      View Details
    • $8,629,000
      115,860 SF

      Silverton Industrial Facility - Prime Location

      Spacious industrial building, ideal for food processing.
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      View Details

    Similar Nearby for Lease

    • 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
      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
      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

      Upgraded food processing facility available for sublease or purchase.
      811 N 1St St, Silverton, OR 97381
      View Details
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    315 Westfield St
    Silverton, OR 97381-1936
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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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