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Property profile & analytics
OFF-MARKET
Estimated value
$5,395,000
Grocery and convenience stores
702 Lancaster NE Dr, Salem, OR 97301-2927
Individually Owned
35-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-0661810
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1965
Total area
22,967 SF
Lot
1.58 ac (68,825 SF)
Zoning code
CR
APN
072W30BA01300
UPID
US71-0661810
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
-
Western Union Bank Credit Union
-
Primo Water Refill Big Box & Wholesale Store
-
Bank of America ATM Atm
-
Roth's Fresh Markets Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.00M
Blend (final)
Blend
$5.40M
Owner & transaction history
Iga Foodliner Roths · 35 yrs held
Iga Foodliner Roths
since 1991
2 recorded transactions
Zoning & alternative use
CR · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$8.2M
+44.9%
Medical building
$7.8M
+37.2%
Commercial (general)
$6.5M
+14.9%
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
RETAIL STORES
$5,655,000
Current use
AUTO REPAIR, GARAGE
$8,200,000
Change: +45% · Conversion: Difficult
MEDICAL BUILDING
$7,760,000
Change: +37% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,500,000
Change: +15% · Conversion: Easy
OFFICE BUILDING
$5,910,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$5.40M
Range $4.86M – $5.93M · ±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
$235 / 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
$40,094
Tax year 2023
Assessed value
$2,711,550
Assessed 2023
Previous assessed
$2,635,460
+2.9% YoY
Effective rate
1.48%
On assessed value
Land market value
$1,100,480
Improvement market value
$1,611,070
Total market value
$2,711,550
Applied tax rate
24,622.0000
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
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1965
Heating
NONE
Stories
1
Total area
22,967 SF
Lot
1.58 ac (68,825 SF)
Zoning code
CR
APN
072W30BA01300
UPID
US71-0661810
Jurisdiction
MARION
Zoning & alternative use
CR · Salem, OR
Zoning CR · permitted uses
CR · 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
RETAIL STORES Current
Est. value
$5.7M
AUTO REPAIR, GARAGE
Est. value
$8.2M
MEDICAL BUILDING
Est. value
$7.8M
COMMERCIAL (GENERAL)
Est. value
$6.5M
OFFICE BUILDING
Est. value
$5.9M
RETAIL STORES Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1965
Heating
NONE
Stories
1
Lot
1.58 ac
Current owner
From public records · entity-resolved
Iga Foodliner Roths
Individual
Free & Clear · 35 yrs held
Mailing address
4895 INDIAN SCHOOL RD NE, SALEM, OR 97305-1126
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1991
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2002
—
Roth I G A Foodliner INC
—
Deed Of Trust
related
$9,000,000 · Sterling Savings Bank
Jan 7, 1991
$400,000
Iga Foodliner Roths
Unknown
Grant Deed
—
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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