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Property profile & analytics
OFF-MARKET
Estimated value
$28,265,000
Office Spaces
12909 68th Pkwy Ste 455, Portland, OR 97223-8345
Entity Owned
36-yr Hold
Absentee Owner
Free & Clear
Property ID
US71-0489763
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2002
Total area
86,704 SF
Lot
2.41 ac (104,980 SF)
Zoning code
TMU
APN
2S101AD-03200
UPID
US71-0489763
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
-
Launa Helton Law Firm
-
CNA Portland Branch Financial Advisor Insurance Agency
-
Staples Office Suite 460 Corporate Office
-
Quadient United States (formerly Neopost) (Bike/Boat/Book/etc) Store Corporate Office
-
Quadient United States (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$28.27M
Blend (final)
Blend
$28.27M
Owner & transaction history
Pacific Realty Associates · 36 yrs held
Pacific Realty Associates
since 1989
2 recorded transactions
Zoning & alternative use
TMU · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$29.7M
+18.0%
Auto repair, garage
$26.5M
+5.2%
Medical building
$26.2M
+4.0%
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
COMMERCIAL (GENERAL)
$25,175,000
Current use
RESTAURANT
$29,695,000
Change: +18% · Conversion: Difficult
AUTO REPAIR, GARAGE
$26,475,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$26,190,000
Change: +4% · Conversion: Easy
RETAIL STORES
$26,030,000
Change: +3% · Conversion: Easy
OFFICE BUILDING
$25,060,000
Change: 0% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$23,055,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$28.27M
Range $25.44M – $31.09M · ±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
$326 / 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
$227,908
Tax year 2023
Assessed value
$13,068,180
Assessed 2023
Previous assessed
$13,487,370
-3.1% YoY
Effective rate
1.74%
On assessed value
Land market value
$2,953,900
Improvement market value
$13,972,690
Total market value
$16,926,590
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2002
Heating
NONE
Total area
86,704 SF
Lot
2.41 ac (104,980 SF)
Zoning code
TMU
APN
2S101AD-03200
UPID
US71-0489763
Jurisdiction
WASHINGTON
Zoning & alternative use
TMU · Portland, OR
Zoning TMU · permitted uses
TMU · 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
COMMERCIAL (GENERAL) Current
Est. value
$25.2M
RESTAURANT
Est. value
$29.7M
AUTO REPAIR, GARAGE
Est. value
$26.5M
MEDICAL BUILDING
Est. value
$26.2M
RETAIL STORES
Est. value
$26.0M
OFFICE BUILDING
Est. value
$25.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$23.1M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
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
2002
Heating
NONE
Lot
2.41 ac
Current owner
From public records · entity-resolved
Pacific Realty Associates
Entity
Free & Clear · 36 yrs held
Mailing address
15350 SW SEQUOIA PKWY STE #300, PORTLAND, OR 97224-7175
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1989
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2017
—
Pacific Realty Associates LP
—
Grant Deed
related
$145,000,000 · Miscellaneous Ins Co
Sep 15, 1989
$3,160,450
Pacific Realty Associates
Unknown
Grant Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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