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    Property profile & analytics

    466 Ct NE St, Unit 410 Salem, OR 97301-3638

    • Investment properties
    • 1,638 SF
    OFF-MARKET
    Value Estimation
    $1,430,000
    Last Sale
    Mar 06, 2023
    $1,300,000
    Location Intelligence
    Property ID
    US71-0430244
    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.

    Current Use by Public Records

    • Palominos Restaurant & Bar / Restaurant / Bar

    Property Details for 466 Ct NE St

    Year built
    1900
    Property size
    1,638 SF
    Zone code
    CB
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    073W27AB90004
    APU
    073W27AB90004

    Description

    This exceptional 4,520 square foot, two-story commercial property located at 466 Court St NE, Salem, OR 97301, presents a unique investment or owner-user opportunity. Built in 1900 and situated on a 0.4-acre lot, this Class B building boasts a permitted CB zoning. The property has undergone a complete renovation, including new plumbing, electrical, HVAC systems, and flooring. The main floor features two distinct restaurant spaces; one currently houses a new fine dining establishment and bar, while the other is designed for private events. A large kitchen supports two full bars and a dedicated prep kitchen. The second floor offers a sophisticated private dining area with its own intimate bar and beautifully landscaped surroundings. This versatile property is ideal for a variety of uses, offering upscale appeal and significant potential for a discerning buyer. The property is located in the heart of downtown Salem and benefits from high visibility and foot traffic. This is a rare opportunity to acquire a fully updated, high-quality commercial property in a desirable location.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,470,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,245,000
      6.5%
      $1,165,000
      7%
      $1,240,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,335,000
      Geo Method
      $1,360,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,275,000
      Retail
      $1,040,000
      Mixed-Use
      $1,245,000
      Hospitality
      $1,115,000
      Educational
      $1,185,000
      Residential Income
      $1,220,000
      Energy
      $1,165,000
      Income-Based Land
      $1,175,000
      Food Service
      $1,135,000

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.037
    Latitude
    44.9406
    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
    $2,826
    $0.00
    $0.00
    $144,010
    -
    $0.00
    $183,230
    $183,230

    Comparable in this City

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      241 State St

      STORE/OFFICE (MIXED USE) • 6,396 SF
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      1018 Liberty NE St

      STORE/OFFICE (MIXED USE) • 17,136 SF
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      210 Liberty SE St

      STORE/OFFICE (MIXED USE) • 24,420 SF
      210 Liberty SE St, Salem, OR 97301-3491
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      3,940 SF

      839 Liberty NE St

      STORE/OFFICE (MIXED USE) • 3,940 SF
      839 Liberty NE St, Salem, OR 97301-2451
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    • Value Estimation by Request
      5,302 SF

      179 Commercial NE St

      STORE/OFFICE (MIXED USE) • 5,302 SF
      179 Commercial NE St, Salem, OR 97301-3402
      View Details

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    466 Ct NE St, Unit 410
    Salem, OR 97301-3638
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    Realmo Value Estimation

    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.

    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.

    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
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