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Property profile & analytics
OFF-MARKET
Estimated value
$3,300,000
Office buildings
6446 Fairway SE Ave Salem, OR 97306-1443
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US71-0946722
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Total area
9,404 SF
Lot
0.73 ac (31,799 SF)
Zoning code
CR
APN
083W23A 01902
UPID
US71-0946722
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
-
The Summit Group of Oregon, LLC Insurance Agency
-
Summit Group of Oregon: Smith Aaron Insurance Agency
-
Richard E Slezak PC Law Firm
-
Adjusters International Pacific Northwest Financial Advisor
-
Landis Consulting Electrical Engineer Engineering Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.42M
Blend (final)
Blend
$3.30M
Owner & transaction history
Fhc LLC · 18 yrs held
Fhc LLC
since 2008
7 recorded transactions
Zoning & alternative use
CR · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the Commercial Retail (CR) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards. The CR zone generally allows a wide array of retail sales and office uses.
Zone name
Retail Commercial
General category
COMMERCIAL
Zone area
453.73 ac
Source
Realmo
Top alternative use upside
Restaurant
$4.1M
+58.8%
Auto repair, garage
$3.4M
+28.6%
Medical building
$3.2M
+21.8%
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
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,610,000
Current use
RESTAURANT
$4,145,000
Change: +59% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,360,000
Change: +29% · Conversion: Difficult
MEDICAL BUILDING
$3,180,000
Change: +22% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,465,000
Change: -6% · Conversion: Easy
RETAIL STORES
$2,315,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$3.30M
Range $2.97M – $3.63M · ±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
$351 / 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
$29,157
Tax year 2023
Assessed value
$1,485,540
Assessed 2023
Previous assessed
$1,442,280
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$263,170
Improvement market value
$1,925,630
Total market value
$2,188,800
Applied tax rate
24,010.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2005
Heating
NONE
Stories
1
Total area
9,404 SF
Lot
0.73 ac (31,799 SF)
Zoning code
CR
APN
083W23A 01902
UPID
US71-0946722
Jurisdiction
MARION
Zoning & alternative use
CR · Salem, ORZoning CR · permitted uses
CR · Salem, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the Commercial Retail (CR) Zone is to implement the commercial designation of the Salem Area Comprehensive Plan through the identification of allowed uses and the establishment of development standards. The CR zone generally allows a wide array of retail sales and office uses.
Zone name
Retail Commercial
General category
COMMERCIAL
Zone area
453.73 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.6M
RESTAURANT
Est. value
$4.1M
AUTO REPAIR, GARAGE
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$2.5M
RETAIL STORES
Est. value
$2.3M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
2005
Heating
NONE
Stories
1
Lot
0.73 ac
Current owner
From public records · entity-resolved
Fhc LLC
Entity
Mailing address
PO BOX 3062, SALEM, OR 97302-0062
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2020
—
Fhc LLC
—
Deed
related
$265,000 · Columbia St Bk
May 9, 2016
—
Fhc LLC
—
Deed
related
$1,275,000 · Columbia St Bk
Apr 29, 2008
—
Fhc LLC
Kowalski,leo J
Warranty Deed
$1,425,000 · Frontier Bank
Dec 27, 2005
—
John C Petrie
Kowalski,leo J
Grant Deed
related
—
Apr 11, 2005
—
Mountain West Investment Corp
—
Deed Of Trust
related
$1,120,000 · Homestreet Bank
—
—
Fhc LLC
—
Deed Of Trust
related
$1,275,000 · Columbia St Bk
—
—
Fhc LLC
—
Deed Of Trust
related
$265,000 · Columbia St Bk
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.
Try Rey
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