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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Grocery and convenience stores
585 Wallace NW Rd, Salem, OR 97304-3833
Entity Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-0409810
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Year built
2013
Total area
3,182 SF
Lot
0.89 ac (38,768 SF)
Zoning code
CG
APN
07321-DA-00800
UPID
US71-0409810
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
-
Shell Gas Station
-
Bretthauer Oil / Pacific Pride Gas Station
-
Circle K Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$690k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$690k
Owner & transaction history
National Retail Properties LP · 13 yrs held
National Retail Properties LP
since 2012
7 recorded transactions
Zoning & alternative use
CG · 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
$690,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$985,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$875,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$585,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$435,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$415,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$217 / 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
$21,036
Tax year 2023
Assessed value
$1,116,150
Assessed 2023
Previous assessed
$1,083,650
+3.0% YoY
Effective rate
1.88%
On assessed value
Assessed improvement
$1,116,150
Improvement market value
$1,662,860
Total market value
$1,662,860
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
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Status
Off-Market
Year built
2013
Heating
NONE
Buildings
1
Total area
3,182 SF
Lot
0.89 ac (38,768 SF)
Zoning code
CG
APN
07321-DA-00800
UPID
US71-0409810
Jurisdiction
POLK
Zoning & alternative use
CG · Salem, OR
Zoning CG · permitted uses
CG · 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.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$985,000
MEDICAL BUILDING
Est. value
$875,000
WAREHOUSE, STORAGE
Est. value
$585,000
RETAIL STORES
Est. value
$435,000
OFFICE BUILDING
Est. value
$415,000
AUTO REPAIR, GARAGE
MEDICAL BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
OFFICE BUILDING
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
2013
Heating
NONE
Buildings
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
National Retail Properties LP
Entity
Free & Clear · 13 yrs held
Mailing address
450 S ORANGE AVE STE #900, ORLANDO, FL 32801-3339
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2012
$2,050,000
National Retail Properties LP
Myobv LLC
Grant Deed
—
Aug 24, 2011
—
Myobv LLC
—
Deed Of Trust
related
$1,729,000 · Columbia State Bank
Mar 11, 2010
—
Myobv LLC
—
Trustees Deed
related
—
Feb 26, 2009
$1,725,000
Myobv LLC
Equilon Ents LLC
Grant Deed
$1,293,750 · First Credit Bank
Mar 26, 2004
—
Equilon Enterprises LLC
Cascade Energy LLC
Grant Deed
related
—
Jan 14, 2002
—
Truax Harris Energy LLC
State Investments LLC
Quit Claim Deed
related
—
—
—
State Investments LLC
—
Deed Of Trust
related
$3,500,000 · Umpqua Bank
—
—
Myobv LLC
—
Deed Of Trust
related
—
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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