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Property profile & analytics
OFF-MARKET
Estimated value
$1,680,000
Medical Office Space
1411 14th Ave, Portland, OR 97201-2521
Individually Owned
2-yr Hold
Free & Clear
Property ID
US71-0927540
Property summary
AI-generated overview
This exceptional medical office space, located at 1411 SW 14th Ave in Portland, Oregon's desirable Multnomah County (zip code 97201), offers 3,589 square feet of readily available space, with the potential to expand to 4,489 square feet by leasing an adjacent 900-square-foot suite. Currently configured as a veterinary clinic, this versatile space is ideal for a variety of medical or general office uses. The landlord is highly flexible and willing to accommodate tenant needs. The property boasts 17 total parking spaces, a significant advantage in this location. Situated just southwest of downtown Portland, this property offers convenient access to major transportation routes and a vibrant urban environment. A reduced lease rate of $9.72 per square foot per year is available on short-term leases. The property is also available for purchase at $1,450,000. This is a unique opportunity to secure a well-located, adaptable space in a thriving Portland neighborhood. The building's total square footage is 4,489 square feet, with multiple tenancy options.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1982
Total area
4,489 SF
Lot
0.11 ac (5,000 SF)
Zoning code
CXD
APN
1S1E04AB 06500
UPID
US71-0927540
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
-
Heather's Finest Dog and Cat Grooming Pet Grooming Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.68M
Owner & transaction history
Randy J Tesar · 2 yrs held
Randy J Tesar
since 2023
1 recorded transaction
Zoning & alternative use
CXD · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+1.1%
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
MEDICAL BUILDING
$1,355,000
Current use
AUTO REPAIR, GARAGE
$1,370,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$1,350,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$1,295,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$1.68M
Range $1.51M – $1.85M · ±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
$374 / 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
$21,226
Tax year 2023
Assessed value
$827,070
Assessed 2023
Previous assessed
$802,990
+3.0% YoY
Effective rate
2.57%
On assessed value
Land market value
$483,890
Improvement market value
$712,230
Total market value
$1,196,120
Applied tax rate
1.0000
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
1982
Heating
NONE
Stories
1
Total area
4,489 SF
Lot
0.11 ac (5,000 SF)
Zoning code
CXD
APN
1S1E04AB 06500
UPID
US71-0927540
Jurisdiction
MULTNOMAH
Zoning & alternative use
CXD · Portland, OR
Zoning CXD · permitted uses
CXD · 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
MEDICAL BUILDING Current
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
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
1982
Heating
NONE
Stories
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Randy J Tesar
Individual
Free & Clear · 2 yrs held
Mailing address
704 SW PALATINE HL RD, PORTLAND, OR 97219-7884
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 16, 2023
—
Randy J Tesar
Randy J Tesar
Intrafamily Transfer
related
—
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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