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Property profile & analytics
OFF-MARKET
Estimated value
$2,300,000
Medical Office Space
11815 King James Pl, Portland, OR 97224-2478
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US71-0037407
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1971
Total area
9,696 SF
Lot
1.25 ac (54,450 SF)
Zoning code
LC
APN
2S115BA-01601
UPID
US71-0037407
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
-
Precision Dental Arts Inc Dental Office
-
Dr. Joel N. Fast, DMD Dental Office
-
Dr. John Holland Dental Office
-
RejuvaMed Skin and Body Skin Care Clinic
-
Elite Foot & Ankle Associates - King City Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.18M
Comparable Approach
Comparable
$2.30M
Blend (final)
Blend
$2.30M
Owner & transaction history
Farrell Prop I LLC · 5 yrs held
Farrell Prop I LLC
since 2021
Last sale
$2.3M
7 recorded transactions
Zoning & alternative use
LC · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.3M
+13.4%
Auto repair, garage
$3.0M
+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
$2,315,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,355,000
6.5%
$2,175,000
7%
$2,020,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,930,000
Current use
RESTAURANT
$3,320,000
Change: +13% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,960,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$2,910,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$2,800,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,790,000
Change: -5% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,580,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$2.30M
Range $2.07M – $2.53M · ±10% · vs last sale $2.30M (Jan 4 2021)
Last sale anchor
$2.30M
Jan 4 2021
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
$237 / 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
$18,829
Tax year 2023
Assessed value
$1,132,970
Assessed 2023
Previous assessed
$1,099,980
+3.0% YoY
Effective rate
1.66%
On assessed value
Land market value
$662,320
Improvement market value
$1,972,970
Total market value
$2,635,290
Applied tax rate
23.0000
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
Off-Market
Year built
1971
Heating
NONE
Total area
9,696 SF
Lot
1.25 ac (54,450 SF)
Zoning code
LC
APN
2S115BA-01601
UPID
US71-0037407
Jurisdiction
WASHINGTON
Zoning & alternative use
LC · Portland, OR
Zoning LC · permitted uses
LC · 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
$2.9M
RESTAURANT
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$3.0M
RETAIL STORES
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
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
1971
Heating
NONE
Lot
1.25 ac
Current owner
From public records · entity-resolved
Farrell Prop I LLC
Entity
Mailing address
PO BOX 2335, LAKE OSWEGO, OR 97035-0671
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2021
$2,302
Farrell Prop I LLC
Latned LLC
Warranty Deed
—
Dec 10, 2013
—
Latned LLC
Johnson,rod C
Grant Deed
—
Dec 6, 2013
—
Rod J Johnson
Latned LLC
Bargain And Sale Deed
$1,426,600 · First Fsla Of Mcminnville
Apr 3, 2013
—
Latned LLC
—
Trustees Deed
related
$11,454 · Precision Truss & Lumber INC
Apr 3, 2007
—
Latned LLC
Johnson,rod C
Grant Deed
—
Mar 30, 2007
—
Rod C Johnson
Latned LLC
Grant Deed
$1,469,000 · First Federal Savings Bank
Jan 4, 2007
—
Latned LLC
Johnson,rod C
Grant Deed
—
Jul 29, 2005
$900,000
Rod C Johnson
Hanrahan,william L
Warranty Deed
$1,055,000 · First Federal Savings Bank
—
—
Rod C Johnson
—
Deed Of Trust
related
$800,000 · Pacific Continental Bank
—
—
Latned LLC
—
Deed Of Trust
related
$1,751,250 · Columbia St Bk
—
—
Latned LLC
—
Deed Of Trust
related
$50,000 · Pacific Continental Bank
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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