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Property profile & analytics
OFF-MARKET
Sports & entertainment properties
128 11th Ave Portland, OR 97209-4160
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US71-0545979
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
1891
Total area
40,920 SF
Lot
0.47 ac (20,393 SF)
Zoning code
EXD
APN
1N1E34CB 07501
UPID
US71-0545979
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
-
Corrib Theatre (Business Office) Theater & Performing Art Venue
-
Ellyn Bye Studio Theater Theater & Performing Art Venue
-
The Armory Box Office Theater & Performing Art Venue
-
The Armory Bar Cafe & Coffee Shop
-
Portland Area Theatre Alliance Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Block 216 LLC · 7 yrs held
Block 216 LLC
since 2019
5 recorded transactions
Zoning & alternative use
EXD · Portland, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
Land market value
$7,764,840
Improvement market value
$19,323,080
Total market value
$27,087,920
Applied tax rate
708.0000
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
1891
Heating
NONE
Stories
3
Total area
40,920 SF
Lot
0.47 ac (20,393 SF)
Zoning code
EXD
APN
1N1E34CB 07501
UPID
US71-0545979
Jurisdiction
MULTNOMAH
Zoning & alternative use
EXD · Portland, OR
Zoning EXD · permitted uses
EXD · 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.
Building & site characteristics
From public records
Year built
1891
Heating
NONE
Stories
3
Lot
0.47 ac
Current owner
From public records · entity-resolved
Block 216 LLC
Entity
Mailing address
128 NW 11TH AVE, PORTLAND, OR 97209-4160
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2019
$970,536
Block 216 LLC
Armory Theater Fund
Grant Deed
—
Jun 24, 2014
—
Armory Theater Fund
Portland Historic Rehabilitati
Warranty Deed
$2,500,000 · Miscellaneous Ins Co
Apr 5, 2004
$3,150,000
Portland Historic Rehabilitatn
Brewery Blocks I LLC
Grant Deed
$26,073,875 · Gs Portland New Markets Fund
—
—
Armory Theater Fund
—
Loan Modification
related
$1,250,000 · Miscellaneous Ins Co
—
—
Portland Historic Rehabilitati
—
Deed Of Trust
related
$850,000 · Armory Theater Fund
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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