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576 Patterson St NW, Salem, OR 97304
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Property summary
AI-generated overview
This retail space comprises 2,400 square feet and is located at 576 Patterson St NW in Salem, Oregon.
Property profile
Verified
Property type
Other industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1945
Total area
51,680 SF
Lot
2.64 ac (114,998 SF)
Zoning code
IG
APN
07321-DA-01100
UPID
US71-0530851
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Arcade & Gaming Center Sports Field & Court
-
Gym & Fitness Center
-
Car Wash
-
Training Center Sports School
-
Bar & Pub Restaurant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.43M
Blend (final)
Blend
$1.20M
Owner & transaction history
since 2019
7 recorded transactions
Zoning & alternative use
IG · Salem, OR
Zoning description
Industrial and Employment Zone: IG Buildings and accessory structures Min 10 ft. Type C Vehicle use areas Limitations and Qualifications (1) Zone-to-zone setbacks are not required abutting an alley. (2) Notwithstanding q…
General category
INDUSTRIAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.20M
Value range
$1.08M – $1.32M
±10% around blend
Estimated value / SF
$23 / SF
Confidence
Property data
88
Market benchmarks
67
Comparable evidence
60
Income certainty
100
$1.08M
blend $1.20M
$1.32M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
51,680 SF
Lot area
2.64 ac
Year built
1945
APN
07321-DA-01100
Zoning
IG
Assessed value
$1,797,920
Annual tax
$33,885
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$33,885
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$5.43M
Range $5.43M – $23.22M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.20M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 102 sales
$262
-91%
County 25 sales
$437
-95%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $23/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$795k
Move the market yield to see immediate price impact.
Value / SF
$15
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$50k
$1.00M
$716k
$557k
$56k
$1.11M
$795k
$619k
$61k
$1.22M
$875k
$680k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$33,885
Tax year 2023
Assessed value
$1,797,920
Assessed 2023
Previous assessed
$1,745,560
+3.0% YoY
Effective rate
1.88%
On assessed value
Assessed land
$304,780
Assessed improvement
$1,493,140
Land market value
$642,890
Improvement market value
$4,941,980
Total market value
$5,584,870
Applied tax rate
3,225.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
For Lease
Year built
1945
Heating
NONE
Total area
51,680 SF
Lot
2.64 ac (114,998 SF)
Zoning code
IG
APN
07321-DA-01100
UPID
US71-0530851
Jurisdiction
POLK
Zoning & alternative use
IG · Salem, ORZoning IG · permitted uses
IG · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
Industrial and Employment Zone: IG Buildings and accessory structures Min 10 ft. Type C Vehicle use areas Limitations and Qualifications (1) Zone-to-zone setbacks are not required abutting an alley. (2) Notwithstanding q…
General category
INDUSTRIAL
Building & site characteristics
From public records
Year built
1945
Heating
NONE
Lot
2.64 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
IG
INDUSTRIAL
Jurisdiction
Salem, OR
Recorded code
IG
Official district
IG
Official district profile
What the municipal code says about IG
Zoning description
Industrial and Employment Zone: IG Buildings and accessory structures Min 10 ft. Type C Vehicle use areas Limitations and Qualifications (1) Zone-to-zone setbacks are not required abutting an alley. (2) Notwithstanding q…
General category
INDUSTRIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for IG in Salem, OR.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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