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Property profile & analytics
OFF-MARKET
Estimated value
$3,985,000
Warehouses
3470 Pipebend NE Pl Salem, OR 97301-1787
Entity Owned
3-yr Hold
Free & Clear
Property ID
US71-0562412
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1994
Total area
19,195 SF
Lot
2.05 ac (89,298 SF)
Zoning code
IBC
APN
073W25D 00800
UPID
US71-0562412
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
-
Pure Dental Dental Office
-
ComForcare Home Care (Salem, OR) Home Health Care Service
-
MSC Engineers Inc Engineering Consultant
-
Surelock Security Security Service
-
SEIU Local 503, OPEU Advocacy Group
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.99M
Owner & transaction history
Pipebend Place LLC · 3 yrs held
Pipebend Place LLC
since 2023
Last sale
$3.2M
6 recorded transactions
Zoning & alternative use
IBC · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$6.5M
+73.8%
Commercial (general)
$5.4M
+45.5%
Office building
$4.9M
+32.3%
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
$3,565,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,735,000
Current use
MEDICAL BUILDING
$6,490,000
Change: +74% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,430,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$4,940,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$4,730,000
Change: +27% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,445,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$3.99M
Range $3.59M – $4.38M · ±10% · vs last sale $3.16M (Mar 15 2023)
Last sale anchor
$3.16M
Mar 15 2023
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
$208 / 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
$31,456
Tax year 2023
Assessed value
$1,602,690
Assessed 2023
Previous assessed
$1,556,010
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$910,840
Improvement market value
$2,456,220
Total market value
$3,367,060
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1994
Heating
NONE
Stories
1
Total area
19,195 SF
Lot
2.05 ac (89,298 SF)
Zoning code
IBC
APN
073W25D 00800
UPID
US71-0562412
Jurisdiction
MARION
Zoning & alternative use
IBC · Salem, OR
Zoning IBC · permitted uses
IBC · 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
$3.7M
MEDICAL BUILDING
Est. value
$6.5M
COMMERCIAL (GENERAL)
Est. value
$5.4M
OFFICE BUILDING
Est. value
$4.9M
RETAIL STORES
Est. value
$4.7M
INDUSTRIAL (GENERAL)
Est. value
$3.4M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1994
Heating
NONE
Stories
1
Lot
2.05 ac
Current owner
From public records · entity-resolved
Pipebend Place LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 12159, SALEM, OR 97309-0159
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2023
—
Pipebend Place LLC
Dalke Investments LLC
Release/satis. Of Agrem. Of Sale (fee Property)
related
—
Mar 15, 2023
$3,160,000
Bullding Ocrporation Of Seiu Local
Pipebend Place LLC
Warranty Deed
$2,070,000 · Heritage Southeast Bank
May 18, 2018
$280,000
Pipebend Place LLC
Dalke Investments LLC
Grant Deed
related
—
Oct 31, 2012
—
Dalke Investments LLC
—
Deed Of Trust
related
$13,550,000 · Wells Fargo Bank
Jun 15, 2006
—
Dalke Investments LLC
Dalke T & S Living Trust
Quit Claim Deed
related
—
Aug 17, 1993
—
Real Estate Exchange INC
Unknown
Grant Deed
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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