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Property profile & analytics
FOR LEASE
Office buildings
435 Commercial St NE, Salem, OR 97301
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US71-0622056
For Lease
1 / 6
$17 SF/Yr
435 Commercial St NE, Salem, OR 97301
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1948
Total area
44,708 SF
Lot
1.26 ac (54,886 SF)
Zoning code
CB
APN
073W22DC02300
UPID
US71-0622056
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
-
Oregon State Marine Board Government Office State Government Office
-
Southwell Law, LLC Law Firm
-
David H. Leonard Law Firm
-
Churchill Leonard, LLP Law Firm
-
Jamel Porta Potty Rental Salem Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.42M
Blend (final)
Blend
$7.42M
Owner & transaction history
Fields James K · 7 yrs held
Fields James K
since 2019
6 recorded transactions
Zoning & alternative use
CB · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$11,505,000
Current use
RETAIL STORES
$11,015,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$7.42M
Range $6.68M – $8.16M · ±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
$166 / 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
$67,326
Tax year 2023
Assessed value
$3,430,300
Assessed 2023
Previous assessed
$3,330,390
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$1,313,740
Improvement market value
$2,542,270
Total market value
$3,856,010
Applied tax rate
24,970.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1948
Heating
NONE
Stories
1
Total area
44,708 SF
Lot
1.26 ac (54,886 SF)
Zoning code
CB
APN
073W22DC02300
UPID
US71-0622056
Jurisdiction
MARION
Zoning & alternative use
CB · Salem, OR
Zoning CB · permitted uses
CB · 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
OFFICE BUILDING Current
Est. value
$11.5M
RETAIL STORES
Est. value
$11.0M
OFFICE BUILDING Current
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
1948
Heating
NONE
Stories
1
Lot
1.26 ac
Current owner
From public records · entity-resolved
Fields James K
Individual
Mailing address
7585 STATE ST, SALEM, OR 97317-9044
Ownership since
2019
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 14, 2019
—
Fields James K
Lantz,marcia
Warranty Deed
related
$1,972,000 · Columbia St Bk
Sep 15, 2015
—
His Properites LLC
His Properties
Quit Claim Deed
related
$972,000 · Columbia St Bk
Aug 10, 2007
—
Kent S Lyles
Lyles,kent S
Quit Claim Deed
related
$101,000 · Us Bank NA Nd
Oct 1, 1981
$600,000
Properties
Unknown
Grant Deed
—
—
—
Marcia M Lantz
—
Deed Of Trust
related
$510,000 · Commercial Bank
—
—
Properties
—
Deed Of Trust
related
$1,500,000 · West Coast Bank
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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