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    Property profile & analytics

    Salem, OR 97301

    • Hotels
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Jan 31, 2020
    $8,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US71-1394267
    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

    • Hotels

    Property Details

    Lot size
    0.22 lot acres
    Zone code
    CR
    Property type
    Hotels
    APN
    073W24AC03402
    APU
    073W24AC03402

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Marion
    State
    Oregon
    Longitude
    -122.995
    Latitude
    44.9493
    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
    $2,349
    $0.00
    $0.00
    $122,650
    -
    $99,650
    $23,000
    $122,650

    Comparable in this City

    • Value Estimation by Request
      47,956 SF

      390 Hawthorne SE Ave

      HOTEL • 47,956 SF
      390 Hawthorne SE Ave, Salem, OR 97301-6792
      View Details
    • Value Estimation by Request
      15,971 SF

      1555 State St

      HOTEL • 15,971 SF
      1555 State St, Salem, OR 97301-4255
      View Details
    • Value Estimation by Request
      0.03 Acres

      Salem, OR 97301

      HOTEL • 0.03 Acres
      Salem, OR 97301
      View Details
    • Value Estimation by Request
      37,272 SF

      1775 Fwy NE Ct

      HOTEL • 37,272 SF
      1775 Fwy NE Ct, Salem, OR 97301-8745
      View Details
    • Value Estimation by Request
      91,757 SF

      3301 Market NE St

      HOTEL • 91,757 SF
      3301 Market NE St, Salem, OR 97301-1819
      View Details
    • Value Estimation by Request
      72,262 SF

      3125 Ryan SE Dr

      HOTEL • 72,262 SF
      3125 Ryan SE Dr, Salem, OR 97301-9682
      View Details

    Similar Nearby for Sale

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    • $275,000
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      Residential Development Land in Salem

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      Salem Investment Opportunity on Portland

      Prime .25-acre parcel in Salem's North Gateway area.
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    Similar Nearby for Lease

    • $21 SF/Yr
      233,358 SF

      Capitol City Office Space

      Salem, OR Office Building - 26,826 SF Available
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    • Contact for pricing
      5,886 SF

      Prestigious Salem Office Space

      Executive Suites & Ballroom Available
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    • $27 SF/Yr
      32,643 SF

      Prime Salem Executive Office Space

      Class A Office Suites, Downtown Salem
      250 Church St, Salem, OR 97301
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    • Contact for pricing
      99,313 SF

      Salem Retail Pad Site - Huge Potential

      99,313 SF Vacant Retail Space in Salem, OR
      1010 Hawthorne Ave, Salem, OR 97301
      View Details
    • $3,850,000
      1,868 SF

      Historic Oregon Building Office Space

      Renovated historic office building in Salem, Oregon available for lease.
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    • $800 /Mo
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      Office Space with Shared Amenities

      Executive suites with shared amenities, natural light, and great location.
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      View Details
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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.

    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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