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Property profile & analytics
OFF-MARKET
Estimated value
$1,620,000
Retail space
440 State St Salem, OR 97301-3648
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US71-0047257
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1890
Total area
12,744 SF
Lot
0.14 ac (6,098 SF)
Zoning code
CB
APN
073W27AB04900
UPID
US71-0047257
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
-
Slick Licks Grocery & Convenience Store Specialty Food Shop
-
La Lucciola Pizzeria Restaurant
-
Fork Forty Food Hall Restaurant
-
Suzy’s Tacqueria #2 Restaurant
-
Exitus Salem Escape Rooms Arcade & Gaming Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.62M
Owner & transaction history
440 State LLC · 8 yrs held
440 State LLC
since 2018
7 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$127 / 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
$3,177
Tax year 2023
Assessed value
$161,850
Assessed 2023
Previous assessed
$157,150
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$187,860
Improvement market value
$383,970
Total market value
$571,830
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1890
Heating
NONE
Stories
1
Total area
12,744 SF
Lot
0.14 ac (6,098 SF)
Zoning code
CB
APN
073W27AB04900
UPID
US71-0047257
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.
Building & site characteristics
From public records
Year built
1890
Heating
NONE
Stories
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
440 State LLC
Entity
Mailing address
PO BOX 2717, SALEM, OR 97308-2717
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2022
—
440 State LLC
—
Deed
related
$2,075,000 · Washington Federal NA
Apr 30, 2019
—
440 State LLC
—
Deed
related
$449,500 · Redevelopment Agcy
May 31, 2018
$675,000
440 State LLC
Chen,rong-kai & Qiong-hua
Warranty Deed
$1,566,000 · Pioneer Tr Bk
Nov 29, 2002
$262,000
Rong-kai Chen
Yeung,minh C & Keung K
Grant Deed
$175,000 · Pacific Continental Bank
Apr 25, 1991
$135,000
Yeung Minh C
Unknown
Grant Deed
—
—
—
Minh C Yeung
—
Deed Of Trust
related
$110,100 · Pioneer Trust Bank NA
—
—
440 State LLC
—
Deed Of Trust
related
$449,500 · Redevelopment Agcy
—
—
Keung K Yeung
—
Deed Of Trust
related
$15,000 · Pioneer Trust Bank NA
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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