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Property profile & analytics
OFF-MARKET
Estimated value
$5,325,000
Assisted living facilities
12441 Stark St, Portland, OR 97233-1053
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US71-0402673
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1964
Total area
26,421 SF
Lot
2.23 ac (96,921 SF)
Zoning code
RH
APN
1N2E35CC 04100
UPID
US71-0402673
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
-
Portland Health and Rehabilitation Center Nursing Home
-
Diane Meyer, Cota Physician
-
Jennifer A. Oliver, LPTA Physician
-
Melanie Dickson Physician
-
Julie Carey Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.32M
Blend (final)
Blend
$5.33M
Owner & transaction history
Welltower Lending Group LLC · 2 yrs held
Welltower Lending Group LLC
since 2023
7 recorded transactions
Zoning & alternative use
RH · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$8.1M
+51.2%
Medical building
$8.0M
+49.5%
Office building
$7.6M
+43.1%
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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$5,335,000
Current use
AUTO REPAIR, GARAGE
$8,065,000
Change: +51% · Conversion: Difficult
MEDICAL BUILDING
$7,980,000
Change: +50% · Conversion: Difficult
OFFICE BUILDING
$7,635,000
Change: +43% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,915,000
Change: +30% · Conversion: Difficult
RETAIL STORES
$6,395,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$5.33M
Range $4.79M – $5.86M · ±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
$202 / 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
$70,759
Tax year 2023
Assessed value
$3,010,560
Assessed 2023
Previous assessed
$2,922,880
+3.0% YoY
Effective rate
2.35%
On assessed value
Land market value
$1,817,060
Improvement market value
$4,615,990
Total market value
$6,433,050
Applied tax rate
113.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1964
Heating
NONE
Stories
1
Total area
26,421 SF
Lot
2.23 ac (96,921 SF)
Zoning code
RH
APN
1N2E35CC 04100
UPID
US71-0402673
Jurisdiction
MULTNOMAH
Zoning & alternative use
RH · Portland, OR
Zoning RH · permitted uses
RH · 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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$5.3M
AUTO REPAIR, GARAGE
Est. value
$8.1M
MEDICAL BUILDING
Est. value
$8.0M
OFFICE BUILDING
Est. value
$7.6M
COMMERCIAL (GENERAL)
Est. value
$6.9M
RETAIL STORES
Est. value
$6.4M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1964
Heating
NONE
Stories
1
Lot
2.23 ac
Current owner
From public records · entity-resolved
Welltower Lending Group LLC
Entity
Mailing address
1777 AVE OF THE STATES STE #204, LAKEWOOD, NJ 08701-6206
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2023
—
Welltower Lending Group LLC
Protland Snf Operations LLC
Correction Deed
related
—
May 31, 2000
—
Jeffrey P Fish
Pollock,donald E
Grant Deed
$492,000 · Sterling Savings Bank
Sep 4, 1998
—
Karrington Properties LLC
Knapp,daniel K & Debra F
Grant Deed
$2,000,000 · Gmac Commercial Mortgage Corp
May 19, 1997
$1,449,000
Daniel K Knapp
Avery,a C & Karen G
Grant Deed
—
—
—
Daniel K Knapp
—
Deed Of Trust
related
$49,880 · Commercial Bank
—
—
Karrington Properties LLC
—
Deed Of Trust
related
$1,600,200 · West Coast Bank
—
—
Daniel K Knapp
—
Deed Of Trust
related
$1,450,000 · Owens Financial Group INC
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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