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    Property profile & analytics

    588 Main St Independence, OR 97351-2420

    • Commercial land
    • 1,065 SF
    • 0.22 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence
    Property ID
    US71-0358312
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial land

    Property Details for 588 Main St

    Year built
    1910
    Lot size
    0.22 lot acres
    Property size
    1,065 SF
    Zone code
    MUPC
    Property type
    Commercial land
    APN
    08428-BD-03900
    APU
    08428BD03900

    Description

    This exceptional .44-acre lot, encompassing 19,166.4 square feet, presents a rare development opportunity in the heart of downtown Independence, Oregon. Located at 588 & 564 S Main Street, this property is zoned MUPC-T (Multi-Use-Transitional), offering unparalleled flexibility for a diverse range of projects. The zoning allows for commercial, residential, multi-family development, or a creative blend of all three. Imagine the possibilities: a vibrant mixed-use building, a modern apartment complex, or a unique commercial space capitalizing on the high traffic counts of this central location. With a maximum building height of 40 feet (allowing for up to three stories), the potential for a substantial and impactful development is significant. The asking price for this strategically located property is $530,000. This is a chance to shape the future of Independence's downtown core and create a lasting legacy. Don't miss this exceptional opportunity to acquire a prime piece of Oregon real estate with significant upside potential. The property's address is 588 & 564 S Main Street, Independence, OR 97351.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Polk
    State
    Oregon
    Longitude
    -123.185
    Latitude
    44.8486
    CBSA code
    41420
    CBSA name
    SALEM, OR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $593
    $30,970
    $0.00
    $30,970
    -
    $163,500
    $0.00
    $163,500

    Comparable in this City

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      0.82 Acres

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      VACANT COMMERCIAL LAND • 921 SF
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      1.04 Acres

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      VACANT COMMERCIAL LAND • 1,782 SF
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    588 Main St
    Independence, OR 97351-2420
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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