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Property profile & analytics
OFF-MARKET
Estimated value
$3,015,000
Manufacturing properties
3310 Portland NE Rd Salem, OR 97301-0816
Entity Owned
3-yr Hold
Free & Clear
Property ID
US71-1610685
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2019
Total area
9,031 SF
Lot
1.34 ac (58,370 SF)
Zoning code
CR
APN
073W13BB05100
UPID
US71-1610685
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
-
Don Froylan Creamery Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.06M
Blend (final)
Blend
$3.02M
Owner & transaction history
Ochoas Queseria LLC · 3 yrs held
Ochoas Queseria LLC
since 2022
4 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
$4.0M
+145.6%
Auto repair, garage
$3.2M
+98.9%
Medical building
$3.1M
+88.3%
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
RESTAURANT
$3,980,000
Change: +146% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,225,000
Change: +99% · Conversion: Easy
MEDICAL BUILDING
$3,050,000
Change: +88% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,555,000
Change: +58% · Conversion: Difficult
OFFICE BUILDING
$2,325,000
Change: +43% · Conversion: Difficult
RETAIL STORES
$2,225,000
Change: +37% · Conversion: Moderate
Blend value · Realmo final
$3.02M
Range $2.71M – $3.32M · ±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
$334 / 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
$32,676
Tax year 2023
Assessed value
$1,664,840
Assessed 2023
Previous assessed
$1,616,350
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$478,710
Improvement market value
$2,135,340
Total market value
$2,614,050
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2019
Heating
NONE
Total area
9,031 SF
Lot
1.34 ac (58,370 SF)
Zoning code
CR
APN
073W13BB05100
UPID
US71-1610685
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
RESTAURANT
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.3M
RETAIL STORES
Est. value
$2.2M
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
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
2019
Heating
NONE
Lot
1.34 ac
Current owner
From public records · entity-resolved
Ochoas Queseria LLC
Entity
Free & Clear · 3 yrs held
Mailing address
3310 PORTLAND RD NE, SALEM, OR 97301-0816
Mailing matches property
Yes
Owner-occupied
Yes
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 24, 2022
—
Ochoas Queseria LLC
Francisco Ochoa LLC
Lease
—
Dec 1, 2020
—
Francisco Ochoa LLC
—
Deed
related
$2,537,034 · Willamette Vly Bk
Dec 8, 2004
$1,000,000
Larry & Jeanette Epping Fam Fo
Larry Epping Building Co
Warranty Deed
related
—
—
—
Francisco Ochoa LLC
—
Loan Modification
related
$2,537,034 · Willamette Vly Bk
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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