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Property profile & analytics
OFF-MARKET
Estimated value
$3,060,000
Warehouses
5103 Portland NE Rd Salem, OR 97305-3445
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US71-0292725
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1971
Total area
10,000 SF
Lot
1.25 ac (54,450 SF)
Zoning code
CG
APN
062W31D 01400
UPID
US71-0292725
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
-
Captain Jake's Auto Sales Car Dealership
-
MTZ tires & Wheels (Bike/Boat/Book/etc) Store Auto Parts Store
-
SALEM SMASH Restaurant Take-out & Catering
-
Lucky T's Bar & Pub
-
Change Nightclub Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.09M
Blend (final)
Blend
$3.06M
Owner & transaction history
Chans LLC · 10 yrs held
Chans LLC
since 2016
7 recorded transactions
Zoning & alternative use
CG · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the General Commercial (CG) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
183.30 ac
Source
Realmo
Top alternative use upside
Restaurant
$4.4M
+126.7%
Auto repair, garage
$3.6M
+83.6%
Medical building
$3.4M
+73.8%
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
WAREHOUSE, STORAGE
$1,945,000
Current use
RESTAURANT
$4,410,000
Change: +127% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,570,000
Change: +84% · Conversion: Easy
MEDICAL BUILDING
$3,380,000
Change: +74% · Conversion: Difficult
OFFICE BUILDING
$2,775,000
Change: +43% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,620,000
Change: +35% · Conversion: Difficult
RETAIL STORES
$2,465,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$3.06M
Range $2.75M – $3.37M · ±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
$306 / 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
$16,733
Tax year 2023
Assessed value
$852,560
Assessed 2023
Previous assessed
$827,730
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$353,500
Improvement market value
$859,400
Total market value
$1,212,900
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1971
Heating
NONE
Stories
1
Total area
10,000 SF
Lot
1.25 ac (54,450 SF)
Zoning code
CG
APN
062W31D 01400
UPID
US71-0292725
Jurisdiction
MARION
Zoning & alternative use
CG · Salem, ORZoning CG · permitted uses
CG · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the General Commercial (CG) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
183.30 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.9M
RESTAURANT
Est. value
$4.4M
AUTO REPAIR, GARAGE
Est. value
$3.6M
MEDICAL BUILDING
Est. value
$3.4M
OFFICE BUILDING
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.6M
RETAIL STORES
Est. value
$2.5M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1971
Heating
NONE
Stories
1
Lot
1.25 ac
Current owner
From public records · entity-resolved
Chans LLC
Entity
Mailing address
4871 EVIE JEAN ST NE, SALEM, OR 97305-3303
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2022
—
Chans LLC
—
Deed
related
$760,000 · Maps Cu
Jan 9, 2020
—
Chans LLC
—
Deed
related
$320,000 · Maps Cu
Jul 11, 2016
$618,000
Chans LLC
Cycle Sports 2nd Loan
Warranty Deed
$518,000 · 5103 Portland Rd Loan
Nov 5, 2012
$175,000
Sports Cycle 2nd
Paetsch,erich M
Grant Deed
related
—
Sep 26, 2003
—
Holdings Jd
Mclennan,william K
Grant Deed
related
$50,000 · Lewis Hanson & Co INC Trustee
Dec 19, 1990
$161,815
William K Mclennan
Unknown
Grant Deed
—
—
—
Chans LLC
—
Deed Of Trust
related
$320,000 · Maps Cu
—
—
Chans LLC
—
Deed Of Trust
related
$458,505 · Maps Cu
—
—
William K Mclennan
—
Deed Of Trust
related
$375,000 · Western Fsb
—
—
William K Mclennan
—
Deed Of Trust
related
$118,000 · Western Fsb
—
—
William K Mclennan
—
Deed Of Trust
related
$50,000 · First Security Bank Oregon
—
—
William K Mclennan
—
Deed Of Trust
related
$100,000 · First Security Bank Oregon
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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