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    Property profile & analytics

    902 Miller Ave, Unit 1 Dallas, OR 97338-2751

    • Apartment buildings
    • 5,616 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-0786519
    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

    • Apartment buildings

    Property Details for 902 Miller Ave

    Year built
    1968
    Lot size
    0.29 lot acres
    Property size
    5,616 SF
    Zone code
    RS
    Property type
    Apartment buildings
    APN
    07533-DB-01100
    APU
    07533DB01100

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $875,000
      Current use
      RETAIL STORES
      $740,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Polk
    State
    Oregon
    Longitude
    -123.303
    Latitude
    44.9183
    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
    $5,505
    $52,520
    $341,440
    $393,960
    -
    $133,880
    $492,510
    $626,390

    Comparable in this City

    • Value Estimation
      $5,860,000
      58,924 SF

      228 Walnut Ave, Unit 1

      APARTMENT HOUSE (5+ UNITS) • 58,924 SF
      228 Walnut Ave, Dallas, OR 97338-1438
      View Details
    • Value Estimation
      $1,545,000
      14,722 SF

      325 Academy St, Unit 10

      APARTMENT HOUSE (5+ UNITS) • 14,722 SF
      325 Academy St, Dallas, OR 97338-1803
      View Details
    • Value Estimation by Request
      4,100 SF

      1125 Fenton St, Unit 1

      APARTMENT HOUSE (5+ UNITS) • 4,100 SF
      1125 Fenton St, Dallas, OR 97338-2788
      View Details
    • Value Estimation
      $550,000
      5,500 SF

      1157 Jefferson St, Unit 1

      APARTMENT HOUSE (5+ UNITS) • 5,500 SF
      1157 Jefferson St, Dallas, OR 97338-2845
      View Details
    • Value Estimation
      $635,000
      5,640 SF

      1075 Miller Ave, Unit 1

      APARTMENT HOUSE (5+ UNITS) • 5,640 SF
      1075 Miller Ave, Dallas, OR 97338-2752
      View Details
    • Value Estimation
      $730,000
      8,560 SF

      779 Ash St, Unit 1

      APARTMENT HOUSE (5+ UNITS) • 8,560 SF
      779 Ash St, Dallas, OR 97338-2665
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      New Construction Duplex For Sale

      New construction duplex featuring modern amenities and separate utilities.
      1531 SW 11Th St, Dallas, OR 97338
      View Details
    • $1,000,000
      10,414 SF

      Dallas Office Building - Main Street

      10,414 SF, 8-tenant office building, 100% leased.
      Main St, Dallas, OR 97338
      View Details
    • $6,975,000

      New Self-Storage Facility in Dallas, Oregon

      Newly built 370-unit storage facility with high growth potential.
      12755 Clow Corner Rd, Dallas, OR 97338
      View Details
    • $810,000
      81.00 Acres

      81 Acres of Forest Land

      81-acre forest land with timber and residential potential.
      Oakdale Rd, Dallas, OR 97338
      View Details
    • New
      $298,000
      1.31 Acres

      Residential Land in Dallas, Oregon

      1.31 acre residential land for custom home in Dallas.
      481 SW Oregon Fls Dr, Dallas, OR 97338
      View Details
    • $9,900,000
      80.00 Acres

      Oregon Winery & Vineyard Estate

      80-Acre Estate: Winery, Vineyard, B&B
      17485 Or-22, Dallas, OR 97338
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      26,595 SF

      Mill Valley Square Retail Space

      Prime Dallas Retail, 1,600 SF Available
      170 Ellendale Ave, Dallas, OR 97338
      View Details
    • Contact for pricing
      21,000 SF

      Mill Valley Square Pad Site

      Prime Polk County Commercial Land
      174 Ellendale Ave, Dallas, OR 97338
      View Details
    • Contact for pricing

      Warehouse with Yard in Dallas

      Functional warehouse space with yard available for lease in Dallas.
      Dallas, OR 97338
      View Details
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    902 Miller Ave, Unit 1
    Dallas, OR 97338-2751
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    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
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