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Property profile & analytics
OFF-MARKET
Theaters & concert halls
365 Lancaster SE Dr Salem, OR 97317-5336
Entity Owned
Absentee Owner
Free & Clear
Property ID
US71-0280895
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1998
Total area
40,069 SF
Lot
6.37 ac (277,477 SF)
Zoning code
CG
APN
072W31BB04500
UPID
US71-0280895
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
-
Regal Santiam Cinema Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Community First Solutions LLC
Community First Solutions LLC
since 2026
3 recorded transactions
Zoning & alternative use
CG · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the General Commercial (CG) 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.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
183.30 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$107,261
Tax year 2023
Assessed value
$5,600,000
Assessed 2023
Previous assessed
$5,600,000
+0.0% YoY
Effective rate
1.92%
On assessed value
Land market value
$2,063,630
Improvement market value
$3,536,370
Total market value
$5,600,000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1998
Heating
NONE
Total area
40,069 SF
Lot
6.37 ac (277,477 SF)
Zoning code
CG
APN
072W31BB04500
UPID
US71-0280895
Jurisdiction
MARION
Zoning & alternative use
CG · Salem, ORZoning CG · permitted uses
CG · 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 General Commercial (CG) 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.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
183.30 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1998
Heating
NONE
Lot
6.37 ac
Current owner
From public records · entity-resolved
Community First Solutions LLC
Entity
Free & Clear · 0 yrs held
Mailing address
21355 ANDALUCIA LN, HUNTINGTON BEACH, CA 92648-5745
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 7, 2026
—
Community First Solutions LLC
City Of Salem
Quitclaim Deed
—
Jun 4, 2024
—
Yuki 401k
Bn 7 LLC
Deed
—
Dec 8, 2021
$700,000
Bn 7 LLC
Hichi Huynh
Release/satis. Of Agrem. Of Sale (fee Property)
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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