Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    700 Bellevue SE St Salem, OR 97301-3819

    • Medical offices
    • 38,820 SF
    • 1.35 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0888441
    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

    • Bassett Martin L MD / Endocrinologist
    • Pollard Marcus L MD / Orthopedic Surgeon
    • Dr. Timothy R. Borman, DO / Orthopedic Surgeon
    • Santiam Orthopedics & Sports / Orthopedic Surgeon
    • Dr. Ellis R. Clark, MD / Anesthesiologist

    Property Details for 700 Bellevue SE St

    Year built
    1983
    Lot size
    1.35 lot acres
    Property size
    38,820 SF
    Zone code
    CB
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    073W27AC01100
    APU
    073W27AC01100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -123.036
    Latitude
    44.9346
    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
    $89,758
    $0.00
    $0.00
    $4,612,290
    -
    $1,764,180
    $2,961,890
    $4,726,070

    Comparable in this City

    • Value Estimation by Request
      0.20 Acres

      Salem, OR 97301

      MEDICAL CLINIC • 0.20 Acres
      Salem, OR 97301
      View Details
    • Value Estimation by Request
      0.06 Acres

      Salem, OR 97301

      MEDICAL BUILDING • 0.06 Acres
      Salem, OR 97301
      View Details
    • Value Estimation by Request
      10,797 SF

      891 23rd NE St

      MEDICAL CLINIC • 10,797 SF
      891 23rd NE St, Salem, OR 97301-1793
      View Details
    • Value Estimation by Request
      11,391 SF

      1415 Capitol NE St

      MEDICAL CLINIC • 11,391 SF
      1415 Capitol NE St, Salem, OR 97301-7850
      View Details
    • Value Estimation by Request
      948 SF

      1680 State St

      MEDICAL CLINIC • 948 SF
      1680 State St, Salem, OR 97301
      View Details
    • Value Estimation by Request
      18,789 SF

      1180 Leslie SE St

      MEDICAL CLINIC • 18,789 SF
      1180 Leslie SE St, Salem, OR 97301
      View Details

    Similar Nearby for Sale

    • $39,900

      Well-Maintained Home in 55+ Community

      Two-bedroom home with fenced yard and community amenities.
      4915 Swegle Rd, Salem, OR 97301
      View Details
    • $790,000
      3,281 SF

      Charming 1928 Office/Medical Building

      Office/medical building near Willamette University and Oregon State Capitol.
      1320 Chemeketa St NE, Salem, OR 97301
      View Details
    • $1,000,000
      3,392 SF

      Medical Office Building For Sale

      3,392 SF medical office building with ample parking.
      1707 Lansing Ave NE, Salem, OR 97301
      View Details
    • Contact for pricing
      51,384 SF

      Salem Office Building For Sale

      Multi-tenant office building in Salem's Central Business District.
      302 State St, Salem, OR 97301
      View Details
    • $375,000
      3,268 SF

      Salem Office Building For Sale

      3,268 SF office building in a strategic Salem location.
      980 Market St NE, Salem, OR 97301
      View Details
    • $1,150,000
      6,208 SF

      Salem Office Condo: High St NE

      Historic Downtown Salem Office Suite, 6208 SF
      183 High St, Salem, OR 97301
      View Details

    Similar Nearby for Lease

    • $575,000
      2,367 SF

      Historic Medical Office Space Available

      Converted home featuring unique interior, suitable for medical office.
      1535 State St, Salem, OR 97301
      View Details
    • $35 SF/Yr
      5,099 SF

      Medical Office Space Available

      Turn-key medical office with exceptional views and natural light.
      500 Liberty St SE, Salem, OR 97301
      View Details
    • $525,000
      560 SF

      Medical Office Building on State

      Professional medical office building with excellent exposure and building signage.
      1800 State St, Salem, OR 97301
      View Details
    • $17 SF/Yr
      7,141 SF

      Capitol Tower Office Suites in Salem, OR

      Prime Salem Office Space: 6 Suites Available
      388 State St, Salem, OR 97301
      View Details
    • $21 SF/Yr
      10,307 SF

      Downtown Office Space Available

      Classic office building with modern updates.
      695 Commercial St, Salem, OR 97301
      View Details
    • $15 SF/Yr
      1,602 SF

      Downtown Salem Office Suites

      Hip industrial spaces, flexible lease terms.
      249 Liberty St, Salem, OR 97301
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    700 Bellevue SE St
    Salem, OR 97301-3819
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.