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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Retail space
3300 Market NE St Salem, OR 97301-1817
Individually Owned
3-yr Hold
Free & Clear
Property ID
US71-0461743
Property summary
AI-generated overview
Osborn Plaza, located at 3300 Market St NE, Salem, Oregon 97301, presents a compelling investment opportunity in a thriving retail environment. This Class C shopping center, totaling 4,470 square feet on a 0.39-acre lot, offers nine suites with various sizes available for lease. Currently, 653 square feet are vacant, providing immediate occupancy potential. The property underwent renovations in 2024, ensuring modern amenities for tenants. The minimum divisible space is 653 square feet, while larger spaces are also available, ranging from approximately 539 to 810 square feet. One available suite features a private restroom and includes a private office, storage area, and open retail space. The property is zoned CR and enjoys convenient access via Hawthorne Ave. The Net Net Net (NNN) lease rate is $0.66 per square foot per month, and tenant improvements are negotiable. This is an exceptional opportunity to secure retail space in a well-located Salem center. The property's multiple suite configuration offers flexibility for various retail businesses. Don't miss this chance to establish your presence in this vibrant commercial area.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1978
Total area
4,470 SF
Lot
0.39 ac (16,988 SF)
Zoning code
CR
APN
073W24AD01201
UPID
US71-0461743
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
-
Red's Barber Shop Barber Shop
-
BB Foot Reflexology and Body Massage Alternative Medicine Practice Spa & Massage Center
-
Sweet Cake Supplies (Bike/Boat/Book/etc) Store
-
Adriana’s Beauty Salón & Barbershop Barber Shop
-
Club Vida by Wendy Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$830k
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$920k
Owner & transaction history
Guoming Zhang · 3 yrs held
Guoming Zhang
since 2022
Last sale
$700,000
1 recorded transaction
Zoning & alternative use
CR · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.5M
+37.2%
Commercial (general)
$1.3M
+14.9%
Office building
$1.2M
+4.5%
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
$1,175,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$895,000
6.5%
$830,000
7%
$770,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,100,000
Current use
MEDICAL BUILDING
$1,510,000
Change: +37% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,265,000
Change: +15% · Conversion: Easy
OFFICE BUILDING
$1,150,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±10% · vs last sale $700k (Aug 23 2022)
Last sale anchor
$700k
Aug 23 2022
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
$206 / 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
$10,387
Tax year 2023
Assessed value
$529,230
Assessed 2023
Previous assessed
$513,820
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$271,810
Improvement market value
$429,760
Total market value
$701,570
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1978
Heating
NONE
Stories
1
Total area
4,470 SF
Lot
0.39 ac (16,988 SF)
Zoning code
CR
APN
073W24AD01201
UPID
US71-0461743
Jurisdiction
MARION
Zoning & alternative use
CR · Salem, OR
Zoning CR · permitted uses
CR · 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
RETAIL STORES Current
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1978
Heating
NONE
Stories
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Guoming Zhang
Individual
Free & Clear · 3 yrs held
Mailing address
4559 ANTONIA AVE NE, SALEM, OR 97301-2183
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2022
$700,000
Guoming Zhang
Peo Osborn Plaza LLC
Bargain And Sale Deed
—
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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