New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,985,000
Commercial land
891 23rd NE St, Salem, OR 97301-1793
Entity Owned
2-yr Hold
Free & Clear
Property ID
US71-0999973
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1957
Total area
99,440 SF
Lot
9.85 ac (429,066 SF)
Zoning code
PH
APN
073W24CC04000
UPID
US71-0999973
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
-
Dr. Jacob Lowen Physician Medical Clinic
-
Childhood Health Associates-Salem: Temple Brian W MD Pediatrician Medical Clinic
-
Childhood Health Associates of Salem Medical Clinic
-
Dr. Lauren Terry Pediatrician Medical Clinic
-
Roxanne Rich Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.99M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.99M
Owner & transaction history
City Of Salem · 2 yrs held
City Of Salem
since 2024
Last sale
$4.0M
3 recorded transactions
Zoning & alternative use
PH · Salem, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$3,985,000
ML approach
$3,985,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.99M
Range $3.59M – $4.38M · ±10% · vs last sale $3.98M (Jan 31 2024)
Last sale anchor
$3.98M
Jan 31 2024
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
$40 / 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
$62,230
Tax year 2023
Assessed value
$3,170,670
Assessed 2023
Previous assessed
$3,078,330
+3.0% YoY
Effective rate
1.96%
On assessed value
Land market value
$3,539,790
Total market value
$3,539,790
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1957
Heating
NONE
Stories
1
Total area
99,440 SF
Lot
9.85 ac (429,066 SF)
Zoning code
PH
APN
073W24CC04000
UPID
US71-0999973
Jurisdiction
MARION
Zoning & alternative use
PH · Salem, OR
Zoning PH · permitted uses
PH · 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.
Building & site characteristics
From public records
Year built
1957
Heating
NONE
Stories
1
Lot
9.85 ac
Current owner
From public records · entity-resolved
City Of Salem
Entity
Free & Clear · 2 yrs held
Mailing address
555 LIBERTY ST SE #225, SALEM, OR 97301-3513
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2024
$3,983,715
City Of Salem
Salem Health And Hospitals & Clinic
Warranty Deed
—
Jan 30, 2024
—
Salem Health Hospitals & Clinics
Hospital Facliity Authorithy
Bargain And Sale Deed
—
Jun 16, 2021
—
Salem Health Hospitals & Clini
Salem Health
Quit Claim Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 891 23rd NE St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
