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Property profile & analytics
FOR LEASE
Medical Office Space
10535 NE Glisan St, Portland, OR 97220
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US71-0100435
For Lease
1 / 19
$26 SF/Yr
10535 NE Glisan St, Portland, OR 97220
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1995
Total area
26,236 SF
Lot
0.7 ac (30,565 SF)
Zoning code
CS
APN
1N2E34BC 10400
UPID
US71-0100435
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
-
Gateway Medical Building Medical Clinic
-
Dental Care Today Dental Office
-
NexDent Dental Plans, Inc. Insurance Agency
-
Dental Community Center
-
Warren Allen LLP Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.68M
Blend (final)
Blend
$6.68M
Owner & transaction history
Frank J Ramirez · 4 yrs held
Frank J Ramirez
since 2022
7 recorded transactions
Zoning & alternative use
CS · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.0M
+13.4%
Auto repair, garage
$8.0M
+1.1%
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 Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portland 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
MEDICAL BUILDING
$7,925,000
Current use
RESTAURANT
$8,985,000
Change: +13% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,010,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$7,875,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$7,580,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$7,085,000
Change: -11% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$6,975,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$6.68M
Range $6.01M – $7.35M · ±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
$255 / 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
$59,223
Tax year 2023
Assessed value
$3,289,010
Assessed 2023
Previous assessed
$3,739,360
-12.0% YoY
Effective rate
1.80%
On assessed value
Land market value
$611,300
Improvement market value
$2,677,710
Total market value
$3,289,010
Applied tax rate
712.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1995
Heating
NONE
Stories
3
Total area
26,236 SF
Lot
0.7 ac (30,565 SF)
Zoning code
CS
APN
1N2E34BC 10400
UPID
US71-0100435
Jurisdiction
MULTNOMAH
Zoning & alternative use
CS · Portland, OR
Zoning CS · permitted uses
CS · Portland, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$7.9M
RESTAURANT
Est. value
$9.0M
AUTO REPAIR, GARAGE
Est. value
$8.0M
RETAIL STORES
Est. value
$7.9M
OFFICE BUILDING
Est. value
$7.6M
COMMERCIAL (GENERAL)
Est. value
$7.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.0M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1995
Heating
NONE
Stories
3
Lot
0.7 ac
Current owner
From public records · entity-resolved
Frank J Ramirez
Individual
Mailing address
5610 NE 265TH ST, RIDGEFIELD, WA 98642-8712
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2023
—
Ds Property Holdings 2 LLC
—
Deed
related
$3,060,000 · Umpqua Bank
Jan 18, 2022
—
Frank J Ramirez
Arnold Mecham
Special Warranty Deed
—
Sep 11, 2018
—
Ds Property Holdings 2 LLC
—
Deed
related
$2,775,282 · Umpqua Bk
Jun 24, 2013
$2,645,000
Ds Property Holdings 2 LLC
Gateway Medical Building LLC
Warranty Deed
$2,380,500 · Sterling Bank
Oct 25, 1994
—
Gateway Properties LLC
Stanke,roger W
Quit Claim Deed
related
—
—
—
Ds Property Holdings 2 LLC
—
Deed Of Trust
related
$1,851,000 · Evergreen Busn Cap
—
—
Ds Property Holdings 2 LLC
—
Deed Of Trust
related
$2,775,282 · Umpqua Bk
—
—
Gateway Medical Building LLC
—
Deed Of Trust
related
$300,000 · Wells Fargo Bank
—
—
Ds Property Holdings 2 LLC
—
Loan Modification
related
$2,775,282 · Umpqua Bk
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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