Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4605 Lancaster NE Dr Salem, OR 97305-1735
    Back to Search
    Property profile & analytics

    4605 Lancaster NE Dr, Salem, OR 97305-1735

    View on Map
    • Hospitals
    • 3,000 SF
    • 0.65 lot acres
    Off-Market
    Property ID
    US71-0794399
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $920,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hospitals

    Property Details for 4605 Lancaster NE Dr

    Year built
    2002
    Lot size
    0.65 lot acres
    Zone code
    RM
    Property type
    Hospitals
    APN
    072W06CD05000
    APU
    072W06CD05000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 30, 2012 $270,262 Oregon Child Dev Coalition INC Salem Lutheran School Assn Warranty Deed $270k · Us Bank NA
    Dec 31, 1985 — Rose Investments Dba White Unknown Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,013,000
      Market price range: $566k - $1.42M
      AI Estimate
      $824,000
      Market price range: $368k - $1.33M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,015,000
      Current use
      AUTO REPAIR, GARAGE
      $1,070,000
      Change: +6% Conversion: Difficult
      OFFICE BUILDING
      $835,000
      Change: -18% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -122.984
    Latitude
    44.9879
    CBSA code
    41420
    CBSA name
    SALEM, OR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $109,980
    $31,080
    $141,060

    Comparable in this City

    • Value Estimation by Request
      0.56 Acres

      Salem, OR 97305

      HOSPITAL - PRIVATE
      Salem, OR 97305
      View Details
    • Value Estimation
      $2,325,000
      7,590 SF

      4774 Lilac NE Ln

      HOSPITAL - PRIVATE
      4774 Lilac NE Ln, Salem, OR 97305-1789
      View Details
    • Value Estimation
      $3,145,000
      6,868 SF

      2300 Lancaster NE Dr

      DENTAL BUILDING
      2300 Lancaster NE Dr, Salem, OR 97305-1223
      View Details
    • Value Estimation
      $1,895,000
      6,452 SF

      4792 Portland NE Rd

      MEDICAL CLINIC
      4792 Portland NE Rd, Salem, OR 97305-1760
      View Details
    • Value Estimation by Request
      19,336 SF

      4107 Fisher NE Rd

      HOMES (RETIRED, NURSING)
      4107 Fisher NE Rd, Salem, OR 97305-4348
      View Details
    • Value Estimation
      $2,650,000
      8,640 SF

      3896 Beverly NE Ave

      MEDICAL CLINIC
      3896 Beverly NE Ave, Salem, OR 97305-1374
      View Details

    Similar Nearby for Sale

    • New
      $235,000
      0.36 Acres

      Corner Lot Near I-5

      Residential land with potential for multi-family development near I-5.
      4762 Lancaster Dr, Salem, OR 97305
      View Details
    • $399,900
      1,013 SF

      Retail Storefront Property

      For-sale retail storefront on a small lot in Salem, Oregon, with CR zoning for commercial use.
      4055 Silverton Rd NE, Salem, OR 97305
      View Details
    • $10,000,000
      43,626 SF

      Garden-Style 47-Unit Multifamily

      Garden-style multifamily property with 47 units and ample on-site parking in Salem, Oregon.
      4169 Campus Lp NE, Salem, OR 97305
      View Details
    • Contact for pricing
      Pending

      Freestanding Office Building with Land

      Two-story office building with adjacent CR-zoned land for sale.
      4707 Silverton Rd NE, Salem, OR 97305
      View Details
    • New
      $1,500,000
      6,900 SF

      Well-Maintained Multifamily Investment Opportunity

      Three duplexes in Salem, OR, fully occupied and professionally managed.
      4212 47Th Ave NE, Salem, OR 97305
      View Details
    • Contact for pricing

      Phoenix RV Park & Storage

      Well-maintained RV park and storage in Salem, Oregon.
      4130 Silverton Rd NE, Salem, OR 97305
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,000 SF

      Pioneer Square Commercial Space

      Versatile commercial space in Pioneer Square Shopping Center.
      3170-3190 Lancaster Dr NE, Salem, OR 97305
      View Details
    • Contact for pricing

      Functional Warehouse in NE Salem

      Modern industrial warehouse with I-5 exposure and efficient layout.
      4925-4931 Indian School Rd NE, Salem, OR 97305
      View Details
    • $1.05 SF/Yr

      Office Space Near I-5

      Office space in industrial park, close to I-5 and central Salem.
      4937 Indian School Rd, Salem, OR 97305
      View Details
    • Contact for pricing

      Freestanding Office Building with Land

      Two-story office building with land in North Salem.
      4707 Silverton Rd NE, Salem, OR 97305
      View Details
    • $1.00 SF/Yr
      12,006 SF

      Industrial Flex Building with Yard

      Modern industrial flex building with office space and spacious yard.
      3124 Blossom Dr NE, Salem, OR 97305
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in Lancaster Center

      Retail space available in high-traffic Lancaster Center.
      1901-1917 Lancaster Dr NE, Salem, OR 97305
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4605 Lancaster NE Dr
    Salem, OR 97305-1735
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4605 Lancaster NE Dr, Salem, OR, 97305
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!