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Property profile & analytics
OFF-MARKET
Estimated value
$20,600,000
Strip malls
3802 Ctr NE St, Salem, OR 97301-2905
Entity Owned
5-yr Hold
Free & Clear
Property ID
US71-0991983
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Total area
62,405 SF
Lot
5.52 ac (240,451 SF)
Zoning code
CRLU; CR
APN
072W30BB05601
UPID
US71-0991983
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
-
Love Love Teriyaki Lancaster Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.27M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$20.60M
Owner & transaction history
Gildred Family Properties LLC · 5 yrs held
Gildred Family Properties LLC
since 2021
Last sale
$19.5M
4 recorded transactions
Zoning & alternative use
CRLU; CR · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$14,380,000
6.5%
$13,270,000
7%
$12,325,000
Alternative Use
Use
Estimation
RESTAURANT
$20,390,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$19,305,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$17,660,000
Change: 0% · Conversion: Easy
MEDICAL BUILDING
$17,160,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$16,060,000
Change: 0% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$14,180,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$20.60M
Range $18.54M – $22.66M · ±10% · vs last sale $19.50M (May 17 2021)
Last sale anchor
$19.50M
May 17 2021
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
$330 / 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
$153,738
Tax year 2023
Assessed value
$10,128,730
Assessed 2023
Previous assessed
$9,833,720
+3.0% YoY
Effective rate
1.52%
On assessed value
Land market value
$3,845,760
Improvement market value
$11,104,310
Total market value
$14,950,070
Applied tax rate
24,622.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1989
Heating
NONE
Buildings
2
Stories
1
Total area
62,405 SF
Lot
5.52 ac (240,451 SF)
Zoning code
CRLU; CR
APN
072W30BB05601
UPID
US71-0991983
Jurisdiction
MARION
Zoning & alternative use
CRLU; CR · Salem, OR
Zoning CRLU; CR · permitted uses
CRLU; 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
RESTAURANT
Est. value
$20.4M
AUTO REPAIR, GARAGE
Est. value
$19.3M
COMMERCIAL (GENERAL)
Est. value
$17.7M
MEDICAL BUILDING
Est. value
$17.2M
OFFICE BUILDING
Est. value
$16.1M
INDUSTRIAL (GENERAL)
Est. value
$14.2M
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
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
1989
Heating
NONE
Stories
1
Buildings
2
Lot
5.52 ac
Current owner
From public records · entity-resolved
Gildred Family Properties LLC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 2662, RANCHO SANTA FE, CA 92067-2662
Ownership since
2021
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
May 17, 2021
$19,500,000
Gildred Family Properties LLC
Evergreen Plaza Group LLC
Correction Deed
—
May 14, 2021
$19,500,000
Gildred Family Properties LLC
Evergreen Plaza Group LLC
Warranty Deed
$7,500,000 · Farmers & Merchants Bk/lng Bch
May 8, 2007
$14,550,000
Evergreen Plaza Group LLC
Wcmc Charitabl Unitrust
Grant Deed
$9,700,000 · Great-west Life & Annuity Ins
Dec 5, 2006
—
Lloyd W Powell
Powell-meridian LLC
Quit Claim 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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