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Property profile & analytics
OFF-MARKET
Estimated value
$20,320,000
Retail space
12518 Airport Way, Portland, OR 97230-1078
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US71-0472249
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1992
Total area
47,530 SF
Lot
5.59 ac (243,675 SF)
Zoning code
IG2X
APN
1N2E14C 01100
UPID
US71-0472249
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
-
Prestige Flooring Building Supply Carpet & Flooring Store
-
Jencina Butler Pediatrician Physician
-
Stallings Ryan K MD Physician
-
Let's Remodel Hardware & Home Improvement Kitchen & Bath Showroom
-
Deborah Eisenhut Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$20.32M
Blend (final)
Blend
$20.32M
Owner & transaction history
Airport Commerce Center LLC · 3 yrs held
Airport Commerce Center LLC
since 2023
6 recorded transactions
Zoning & alternative use
IG2X · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$16.3M
+14.1%
Auto repair, garage
$14.5M
+1.7%
Medical building
$14.4M
+0.6%
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
RETAIL STORES
$14,270,000
Current use
RESTAURANT
$16,275,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$14,515,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$14,355,000
Change: +1% · Conversion: Difficult
OFFICE BUILDING
$13,735,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$13,690,000
Change: -4% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$12,635,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$20.32M
Range $18.29M – $22.35M · ±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
$428 / 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
$139,523
Tax year 2023
Assessed value
$5,965,690
Assessed 2023
Previous assessed
$5,791,940
+3.0% YoY
Effective rate
2.34%
On assessed value
Land market value
$3,045,780
Improvement market value
$8,340,340
Total market value
$11,386,120
Applied tax rate
6.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1992
Heating
NONE
Buildings
3
Stories
1
Total area
47,530 SF
Lot
5.59 ac (243,675 SF)
Zoning code
IG2X
APN
1N2E14C 01100
UPID
US71-0472249
Jurisdiction
MULTNOMAH
Zoning & alternative use
IG2X · Portland, OR
Zoning IG2X · permitted uses
IG2X · 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
RETAIL STORES Current
Est. value
$14.3M
RESTAURANT
Est. value
$16.3M
AUTO REPAIR, GARAGE
Est. value
$14.5M
MEDICAL BUILDING
Est. value
$14.4M
OFFICE BUILDING
Est. value
$13.7M
COMMERCIAL (GENERAL)
Est. value
$13.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.6M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1992
Heating
NONE
Stories
1
Buildings
3
Lot
5.59 ac
Current owner
From public records · entity-resolved
Airport Commerce Center LLC
Entity
Mailing address
919 SW TAYLOR ST STE #700, PORTLAND, OR 97205-2564
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2023
—
Airport Commerce Center LLC
Tom Moyer Theatres LLC
Bargain And Sale Deed
$6,750,000 · Tiaa Fsb Holdings INC
May 29, 2013
—
Tom Moyer Theatres LLC
—
Deed Of Trust
related
$30,700,000 · Nli Commercial Mortgage Fund
Apr 30, 2013
—
Tom Moyer Theatres LLC
Tom Moyer Theatres
Bargain And Sale Deed
$4,655,000 · Nli Commercial Mortgage Fund II LLC
Sep 1, 1989
$846,225
Moyer Theatres Tom
Unknown
Grant Deed
—
—
—
Tom Moyer Theatres
—
Deed Of Trust
related
$1,660,000 · Bank Of America Oregon
—
—
Tom Moyer Theaters
—
Deed Of Trust
related
$4,700,000 · Jefferson-pilot Life Insurance
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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