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Property profile & analytics
FOR LEASE
Industrial properties
576 Patterson St NW, Salem, OR 97304
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US71-0530851
For Lease
1 / 21
$14 SF/Yr
576 Patterson St NW, Salem, OR 97304
View Listing →
Property profile
Verified
Property type
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Capitol City Sports Arcade & Gaming Center Sports Field & Court
-
The West Box CrossFit West Salem Gym & Fitness Center
-
Lovely Auto Detailing Car Wash
-
Northstar Martial Arts Training Center Sports School
-
Xicha Brewing - West Salem Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.43M
Blend (final)
Blend
$5.11M
Owner & transaction history
Kerley Commercial LLC · 6 yrs held
Kerley Commercial LLC
since 2019
7 recorded transactions
Zoning & alternative use
IG · 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
$5.11M
Range $4.59M – $5.62M · ±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
$99 / 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
$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
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
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, OR
Zoning IG · permitted uses
IG · 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
1945
Heating
NONE
Lot
2.64 ac
Current owner
From public records · entity-resolved
Kerley Commercial LLC
Entity
Mailing address
PO BOX 5517, SALEM, OR 97304-0517
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2021
—
David Land Holdings LLC
—
Deed
related
$630,000 · Willamette Valley Bank
Sep 24, 2019
$4,487,692
Kerley Commercial LLC
West Salem Storage LLC
Warranty Deed
—
Aug 22, 2017
—
West Salem Storage LLC
—
Deed
related
$200,000 · Miscellaneous Govt Agcy
Jun 2, 2017
—
West Salem Storage LLC
West Salem Business Park LLC
Quit Claim Deed
$1,000,000 · Business Dev Department
May 16, 2017
—
West Salem Business Park LLC
West Salem Storage LLC
Quit Claim Deed
—
Nov 30, 2011
$900,000
West Salem Storage LLC
Evergreen Environmental Dev Co
Grant Deed
—
Mar 2, 2011
—
Evergreen Environmental Dev Co
Patterson Business Park LLC
Deed In Lieu Of Foreclosure
—
Jun 18, 2008
—
Patterson Business Park LLC
—
Deed Of Trust
related
$2,250,000 · Intervest Mortgage Co LLC
Jun 15, 2007
$1,750,000
Patterson Business Park LLC
Faries Salem Properties LLC
Grant Deed
$1,200,000 · Sterling Savings Bank
—
—
West Salem Storage LLC
—
Deed Of Trust
related
$1,000,000 · Business Dev Department
—
—
West Salem Storage LLC
—
Deed Of Trust
related
$200,000 · Miscellaneous Govt Agcy
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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