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Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Investment properties
1427 23rd Ave Portland, OR 97210-2660
Trust Owned
Absentee Owner
Free & Clear
Property ID
US71-0315139
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1905
Total area
2,698 SF
Lot
0.11 ac (5,000 SF)
Zoning code
CS
APN
1N1E33BB 08200
UPID
US71-0315139
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
-
Green Qi Alternative Medicine Practice Acupuncture
-
Mind Potential Northwest Physician Alternative Medicine Practice
-
Erica W. Kessler BFA, LMT Alternative Medicine Practice Spa & Massage Center
-
Hamilton Lisa Alternative Medicine Practice Spa & Massage Center
-
Kristin Bradley Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$805k
CAP Approach
CAP
$560k
Comparable Approach
Comparable
$720k
Blend (final)
Blend
$805k
Owner & transaction history
Michael E Janniro Living Trust
Michael E Janniro Living Trust
since 2025
Last sale
$805,000
6 recorded transactions
Zoning & alternative use
CS · 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
Method
Estimation
Statistic approach
$805,000
ML approach
$805,000
CAP Approach
CAP Return
Estimation
6%
$605,000
6.5%
$560,000
7%
$520,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$895,000
Current use
AUTO REPAIR, GARAGE
$825,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$815,000
Change: -9% · Conversion: Easy
RETAIL STORES
$810,000
Change: -10% · Conversion: Easy
OFFICE BUILDING
$780,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$805k
Range $725k – $886k · ±10% · vs last sale $805k (Sep 26 2024)
Last sale anchor
$805k
Sep 26 2024
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
$298 / 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
$8,745
Tax year 2023
Assessed value
$330,330
Assessed 2023
Previous assessed
$330,330
+0.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$658,500
Improvement market value
$536,920
Total market value
$1,195,420
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1905
Heating
FORCED AIR
Stories
2
Bathrooms
2
Total area
2,698 SF
Lot
0.11 ac (5,000 SF)
Zoning code
CS
APN
1N1E33BB 08200
UPID
US71-0315139
Jurisdiction
MULTNOMAH
Zoning & alternative use
CS · Portland, OR
Zoning CS · permitted uses
CS · 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
$895,000
AUTO REPAIR, GARAGE
Est. value
$825,000
MEDICAL BUILDING
Est. value
$815,000
RETAIL STORES
Est. value
$810,000
OFFICE BUILDING
Est. value
$780,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1905
Heating
FORCED AIR
Stories
2
Bathrooms
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
Michael E Janniro Living Trust
Trust
Free & Clear · 0 yrs held
Mailing address
2248 NW JOHNSON ST, PORTLAND, OR 97210-3230
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Dec 15, 2025
—
Michael E Janniro Living Trust
Michael Edward Janniro
Deed
related
—
Sep 26, 2024
$805,000
Michael Edward Janniro
Nancy J Cushwa LLC
Warranty Deed
—
Aug 18, 2006
—
Nancy J Cushwa LLC
Cushwa,nancy
Quit Claim Deed
—
—
—
Gerald F Blake
—
Deed Of Trust
related
$20,000 · Portland Teachers Cu
—
—
Nancy J Blake
—
Deed Of Trust
related
$5,000 · Portland Teachers Cu
—
—
Nancy J Cushwa-blake
—
Deed Of Trust
related
$30,000 · Washington Mutual Fsb
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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