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Property profile & analytics
OFF-MARKET
Estimated value
$3,845,000
Medical Office Space
1210 223rd Ave Gresham, OR 97030
Individually Owned
7-yr Hold
Free & Clear
Property ID
US71-0406780
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2000
Total area
18,012 SF
Lot
1.14 ac (49,658 SF)
Zoning code
LDR
APN
1S3E04AD 04402
UPID
US71-0406780
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.85M
Blend (final)
Blend
$3.85M
Owner & transaction history
Gary Lynn Mccready · 7 yrs held
Gary Lynn Mccready
since 2019
3 recorded transactions
Zoning & alternative use
LDR · Gresham, 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 Gresham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gresham 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
$5,440,000
Current use
AUTO REPAIR, GARAGE
$5,340,000
Change: -2% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,740,000
Change: -13% · Conversion: Moderate
OFFICE BUILDING
$4,635,000
Change: -15% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,455,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$3.85M
Range $3.46M – $4.23M · ±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
$213 / 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
$34,847
Tax year 2023
Assessed value
$1,850,810
Assessed 2023
Previous assessed
$1,796,910
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$536,690
Improvement market value
$4,053,000
Total market value
$4,589,690
Applied tax rate
26.0000
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
2000
Heating
NONE
Stories
2
Total area
18,012 SF
Lot
1.14 ac (49,658 SF)
Zoning code
LDR
APN
1S3E04AD 04402
UPID
US71-0406780
Jurisdiction
MULTNOMAH
Zoning & alternative use
LDR · Gresham, OR
Zoning LDR · permitted uses
LDR · Gresham, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gresham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$5.4M
AUTO REPAIR, GARAGE
Est. value
$5.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.7M
OFFICE BUILDING
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$4.5M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2000
Heating
NONE
Stories
2
Lot
1.14 ac
Current owner
From public records · entity-resolved
Gary Lynn Mccready
Individual
Free & Clear · 7 yrs held
Mailing address
4464 NE ALAMEDA ST, PORTLAND, OR 97213-1245
Ownership since
2019
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
May 13, 2019
$4,150,000
Gary Lynn Mccready
Gresham Professional Group LLC
Warranty Deed
—
—
—
Gresham Professional Group LLC
—
Deed Of Trust
related
$170,000 · Us Bk
—
—
Gresham Professional Group LLC
—
Deed Of Trust
related
$2,160,000 · Us Bank NA
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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