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

    777 Commercial SE St Salem, OR 97301-3421

    • Apartment buildings
    • 2.54 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0980166
    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

    • Maziar Azadpour / Practitioner Service Location / Internist
    • Salem Accounting & Payroll Services / Bookkeeping Service / Certified Public Accountant
    • Union Gospel Mission of Salem Men's Mission / Mission
    • Harminder Gandhok / Internist / Practitioner Service Location
    • Samantha Pacheco / Internist / Practitioner Service Location

    Property Details for 777 Commercial SE St

    Lot size
    2.54 lot acres
    Zone code
    CR
    Property type
    Apartment buildings
    APN
    073W27BD90000
    APU
    073W27BD90000

    Description

    This exceptional 3,129 square foot executive office suite, located at 777 Commercial St SE Suite B in Salem, Oregon, presents a unique investment opportunity. Situated within a prestigious, luxury apartment building, this single-tenant space boasts an open floor plan, two ADA-compliant restrooms, and convenient exterior entrances. The suite is divisible into two separate units, each a minimum of 1,391 square feet, offering flexibility for various business needs. Benefiting from recent rezoning to Mixed-Use Riverfront, this property allows for diverse uses, capitalizing on its proximity to the Willamette River. The building offers Class A amenities, including dedicated parking and prominent monument signage. Its location at a signalized intersection ensures high visibility and significant traffic counts. This thriving commercial environment includes notable co-tenants such as Cascade Cardiology, First American Title, and AFLAC Insurance, alongside over 85 luxury condominium units. Tenant improvement options are available for qualified tenants and lease terms. The property sits on a 2.54-acre lot in Salem, Oregon (zip code 97301), within Marion County.

    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
    -123.045
    Latitude
    44.9338
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      772 SF

      777 Commercial SE St, Unit 410

      APARTMENT HOUSE (5+ UNITS) • 772 SF
      777 Commercial SE St, Salem, OR 97301-0067
      View Details
    • Value Estimation by Request
      1,006 SF

      777 Commercial SE St, Unit 508

      APARTMENT HOUSE (5+ UNITS) • 1,006 SF
      777 Commercial SE St, Salem, OR 97301-0066
      View Details
    • Value Estimation by Request
      1,539 SF

      777 Commercial SE St, Unit 513

      APARTMENT HOUSE (5+ UNITS) • 1,539 SF
      777 Commercial SE St, Salem, OR 97301-0066
      View Details
    • Value Estimation by Request
      31,033 SF

      325 13th NE St

      APARTMENT HOUSE (5+ UNITS) • 31,033 SF
      325 13th NE St, Salem, OR 97301-2200
      View Details
    • Value Estimation by Request
      0.23 Acres

      777 Commercial SE St, Unit 4

      APARTMENT HOUSE (5+ UNITS) • 0.23 Acres
      777 Commercial SE St, Salem, OR 97301-3421
      View Details
    • Value Estimation by Request
      1,332 SF

      777 Commercial SE St, Unit 406

      APARTMENT HOUSE (5+ UNITS) • 1,332 SF
      777 Commercial SE St, Salem, OR 97301-0065
      View Details

    Similar Nearby for Sale

    • $4,200,000
      24,300 SF

      Historic Mixed-Use Bishop Building

      Restored 1894 building with apartments and retail spaces.
      145 Liberty St NE, Salem, OR 97301
      View Details
    • $280,000

      Townhome Style Condo with Garage

      Two-bedroom condo with garage, updated features, and community amenities.
      3836 Auburn Rd NE, Salem, OR 97301
      View Details
    • $950,000
      4,292 SF

      Turnkey Salem Multifamily Investment

      Four-unit property with updated exterior and potential for owner-occupancy.
      241 NW 25Th St, Salem, OR 97301
      View Details
    • New
      $450,000
      2,000 SF

      Salem Duplex with Garages

      Duplex in Salem with garages and private backyards.
      3441 Livingston St, Salem, OR 97301
      View Details
    • $575,000
      2,282 SF

      Salem 4-Plex Investor Opportunity

      Four 1-bedroom units with potential to assume FHA mortgage!
      771 21St St SE, Salem, OR 97301
      View Details
    • $1,045,000
      4 SF

      Historic Firehouse with Rental Upside

      Remodeled historic building with retail space and vacation rental units.
      246 State St, Salem, OR 97301
      View Details

    Similar Nearby for Lease

    • $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
    • $13 SF/Yr
      5,000 SF

      Prime Retail Space, Fairgrounds Rd NE

      5,000 SF Standalone Retail Building
      1695 Fairgrounds Rd, 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
    • $22 SF/Yr
      30,488 SF

      Salem Office Building: Prime Location

      Class A Office Space, 2,915 sq ft Available
      698 12Th St, Salem, OR 97301
      View Details
    • $2 SF/Yr
      4,078 SF

      Office Space with River Views

      Office suites with Willamette River and Riverfront Park views.
      201 Ferry St SE, 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.
    777 Commercial SE St
    Salem, OR 97301-3421
    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.