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Property profile & analytics
OFF-MARKET
Estimated value
$2,895,000
Turn key restaurants
4656 Commercial SE St Salem, OR 97302-1902
Entity Owned
Free & Clear
Property ID
US71-0840197
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1994
Total area
3,672 SF
Lot
1.33 ac (57,935 SF)
Zoning code
CR
APN
083W10DA02700
UPID
US71-0840197
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
-
The Original Pancake House Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.54M
Blend (final)
Blend
$2.90M
Owner & transaction history
Minniti Properties LLC
Minniti Properties LLC
since 2026
Last sale
$3.1M
7 recorded transactions
Zoning & alternative use
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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.90M
Range $2.61M – $3.18M · ±10% · vs last sale $3.07M (Jan 9 2026)
Last sale anchor
$3.07M
Jan 9 2026
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
$788 / 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
$43,977
Tax year 2023
Assessed value
$2,240,640
Assessed 2023
Previous assessed
$2,175,380
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$1,167,970
Improvement market value
$1,805,840
Total market value
$2,973,810
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1994
Heating
NONE
Buildings
3
Stories
1
Total area
3,672 SF
Lot
1.33 ac (57,935 SF)
Zoning code
CR
APN
083W10DA02700
UPID
US71-0840197
Jurisdiction
MARION
Zoning & alternative use
CR · Salem, OR
Zoning CR · permitted uses
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.
Building & site characteristics
From public records
Year built
1994
Heating
NONE
Stories
1
Buildings
3
Lot
1.33 ac
Current owner
From public records · entity-resolved
Minniti Properties LLC
Entity
Free & Clear · 0 yrs held
Mailing address
4656 COMMERCIAL ST SE, SALEM, OR 97302-1902
Mailing matches property
Yes
Owner-occupied
Yes
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
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2026
$3,070,000
Minniti Properties LLC
Hueneke Family LLC
Warranty Deed
—
Jul 28, 2023
—
Hueneke Family LLC
—
Deed
related
$600,000 · Umpqua Bank
May 15, 2002
$450,000
Hueneke Family LLC
Troxclair Trust
Grant Deed
$368,000 · Bank Of The Cascades
Jul 12, 1999
—
Hueneke Family LLC
Hueneke,thomas J & Patricia L
Quit Claim Deed
related
—
May 12, 1994
$260,000
Thomas J Hueneke
Stevenson Family
Grant Deed
$160,000 · Commercial Bank
Feb 6, 1989
—
James R Stevenson
Unknown
Quit Claim Deed
related
—
—
—
Thomas J Hueneke
—
Deed Of Trust
related
$257,310 · Bank Of The Cascades
—
—
Hueneke Family LLC
—
Deed Of Trust
related
$1,222,000 · Willamette Valley Bank
—
—
Hueneke Family LLC
—
Deed Of Trust
related
$1,500,000 · Citizens Bk
—
—
Thomas J Hueneke
—
Deed Of Trust
related
$505,000 · Commercial Bank
—
—
Thomas J Hueneke
—
Deed Of Trust
related
$600,000 · Bank Of The Cascades
—
—
Hueneke Family LLC
—
Deed Of Trust
related
$514,000 · Willamette Valley Bank
—
—
Hueneke Family LLC
—
Deed Of Trust
related
$532,000 · Bank Of The Cascades
—
—
Hueneke Family LLC
—
Deed Of Trust
related
$527,000 · Willamette Valley Bank
—
—
Thomas J Hueneke
—
Deed Of Trust
related
$433,060 · Commercial 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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