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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Mixed-use properties
15 18th Ave Portland, OR 97232-3048
Entity Owned
~
Est. High Equity
Property ID
US71-0025944
Property summary
AI-generated overview
This mixed-use property is located in the Kerns neighborhood of Portland, Oregon (postal code 97232). The building features three beds upstairs and a two-bedroom private apartment below. It can be used as a duplex with owner-occupied live/work space, with the apartment rented separately. The main level is suitable for leasing to a small business. The property includes a picnic area and a large covered patio. The commercial kitchen can be converted to residential use, and custom built-ins allow for dry storage. Professionally installed venting, ADA compliance with lift and bathroom, security and fire systems are in place. The property has a Walk Score of 99 and a Bike Score of 94, with public transit nearby. Potential uses include office space, hospitality, wellness, café, retail, and live/work. The zoning is CM2.
Property profile
Verified
Property type
Mixed-use properties
Use group
COMMERCIAL (GENERAL)
Year built
1904
Total area
1,606 SF
Lot
0.05 ac (2,250 SF)
Zoning code
CM
APN
1N1E35DB 05900
UPID
US71-0025944
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
-
Sacred Elements Interior Design
-
Steve's Pet Care Kennel & Boarding Facility
-
Fish and Rice Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$680k
Blend (final)
Blend
$725k
Owner & transaction history
Himmapan Sacred Garden LLC
Himmapan Sacred Garden LLC
since 2025
Last sale
$755,555
7 recorded transactions
Zoning & alternative use
CM · 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
$765,000
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)
$520,000
Current use
AUTO REPAIR, GARAGE
$490,000
Change: -5% · Conversion: Difficult
MEDICAL BUILDING
$485,000
Change: -6% · Conversion: Easy
RETAIL STORES
$480,000
Change: -7% · Conversion: Easy
OFFICE BUILDING
$465,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$725k
Range $653k – $798k · ±10% · vs last sale $756k (May 21 2025)
Last sale anchor
$756k
May 21 2025
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
$451 / 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
$6,373
Tax year 2023
Assessed value
$240,500
Assessed 2023
Previous assessed
$233,500
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$405,000
Improvement market value
$242,880
Total market value
$647,880
Applied tax rate
201.0000
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
Mixed-use properties
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1904
Heating
FORCED AIR
Stories
2
Bathrooms
3
Total area
1,606 SF
Lot
0.05 ac (2,250 SF)
Zoning code
CM
APN
1N1E35DB 05900
UPID
US71-0025944
Jurisdiction
MULTNOMAH
Zoning & alternative use
CM · Portland, OR
Zoning CM · permitted uses
CM · 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
$520,000
AUTO REPAIR, GARAGE
Est. value
$490,000
MEDICAL BUILDING
Est. value
$485,000
RETAIL STORES
Est. value
$480,000
OFFICE BUILDING
Est. value
$465,000
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
1904
Heating
FORCED AIR
Stories
2
Bathrooms
3
Lot
0.05 ac
Current owner
From public records · entity-resolved
Himmapan Sacred Garden LLC
Entity
Mailing address
4920 SW WINDSOR CT, PORTLAND, OR 97221-2136
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
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2025
$755,555
Himmapan Sacred Garden LLC
Per Enfield
Warranty Deed
—
Oct 25, 2022
$870,225
Per Enfield
Burnside Properties LLC
Warranty Deed
$695,000 · Tgp Opportunity Fund I LLC
Dec 29, 2017
—
Burnside Properties LLC
Dougherty,stephen
Grant Deed
—
Sep 13, 2017
—
Stephen Dougherty
—
Deed
related
$200,000 · Banner Bank
Aug 17, 2015
$550,000
Stephen Dougherty
Krick,tara
Warranty Deed
—
Jun 29, 2005
—
Tara Krick
Strong Properties
Grant Deed
related
—
Dec 31, 2003
—
Strong Properties LP
Strong,tara
Quit Claim Deed
related
—
Aug 21, 2003
—
Tara Strong
Strong Properties LP
Quit Claim Deed
related
$218,000 · America's Wholesale Lender
Apr 23, 2002
$236,340
1031 Real Estate Services INC
Hook,raymond L
Grant Deed
$211,344 · Raymond L Hook
Jul 1, 1989
$36,950
Raymond L Hook
Davis,ralph S
Grant Deed
$27,700 · Home Savings Of America
—
—
Tara Krick
—
Deed Of Trust
related
$20,000 · Umpqua Bank
—
—
Krick,tara
—
Deed Of Trust
related
$154,700 · Umpqua Bank
—
—
Tara Krick
—
Deed Of Trust
related
$30,000 · Umpqua Bank
—
—
Tara Krick
—
Deed Of Trust
related
$154,700 · Umpqua Bank
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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