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Financial
Distress signals
Property profile

560 Wallace Rd NW Salem, OR 97304

FOR LEASE
Retail space
Property ID
US71-0977182
8,400 SF 1.17 ac lot Built 1995
Last sale Dec 1995 · $809,970
Trust Owned Owner of record is a trust. 21-yr Hold Held for 21 years. Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This West Salem retail property includes two suites that may be leased separately or combined for up to approximately 2,800 +/- square feet of contiguous space. One suite is an endcap unit of about 1,400 +/- square feet that was previously configured for restaurant use and includes an existing hood system and a walk-in cooler. The second suite is also about 1,400 +/- square feet and is arranged as an inline retail unit. The property is located on Wallace Road NW in a well-established retail…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$22k
Tax billed · 2023
Assessed value$1.19M
Assessed land$638k
Assessed improvement$553k
Effective rate1.88%

Value estimate

· Oct 2026
$800k
$720k – $880k
CAP approach$1.56M
Submarket $/SF estimate$1.55M
NOI build-up
Gross scheduled income$25k
Vacancy & credit loss−$1k
Operating expenses−$7k
NOI · 70,191.67% cap applied$17k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$246/SF
Submarket average, outlier-cleaned · 21 recorded sales of this use type
Observed band · Q1–Q3$179 – $351

Cap rate analysis

How does the asset earn?
70,191.67%
$17k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
IC
Industrial and Employment Zone: EC, IC, IBC, and IP Buildings and accessory structures Min. 5 ft. Type A Vehicle use areas Industrial and...
General categoryINDUSTRIAL
JurisdictionPOLK

Location intelligence

Which uses thrive at this corner?
Best fit: Electrical Service
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Electrical Service9.5
Catering Service8.7
Plumbing Service8.6

Location

560 Wallace Rd NW Salem, OR 97304
County assessor Recorded deeds · 2 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 15 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
735 Edgewater St Nw Ste, Salem, OR 97304-3870 $425,000 Apr 2025 10,344 SF
2591 Wallace NW, Salem, OR 97304-1413 $4,400,000 Dec 2023 3,036 SF
2465 Salem Dallas NW, Salem, OR 97304-4512 $1,190,000 Apr 2023 7,400 SF
1120 Edgewater NW, Salem, OR 97304-4048 $350,000 Sep 2022 2,460 SF
290 Moyer NW, Salem, OR 97304-3822 $2,300,000 Sep 2021 13,240 SF
113 50th NW, Salem, OR 97304-3219 $26,000 Jan 2021 3,932 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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