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Property profile & analytics
OFF-MARKET
Hotels
1506 2nd Ave, Portland, OR 97232-1133
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US71-1022002
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1977
Construction
FRAME
Total area
15,322 SF
Lot
0.48 ac (21,000 SF)
Zoning code
CXD
APN
1N1E34AA 00200
UPID
US71-1022002
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
-
Apollo Electric Electrical Service General Contractor
-
Shilo Inns Rose Garden Hotel & Motel
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
Param Rose Garden LLC · 9 yrs held
Param Rose Garden LLC
since 2017
7 recorded transactions
Zoning & alternative use
CXD · 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
Tax billed
$66,520
Tax year 2023
Assessed value
$2,545,530
Assessed 2023
Previous assessed
$2,471,390
+3.0% YoY
Effective rate
2.61%
On assessed value
Land market value
$3,780,000
Improvement market value
$10,000
Total market value
$3,790,000
Applied tax rate
883.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1977
Construction
FRAME
Heating
NONE
Stories
2
Units
44
Total area
15,322 SF
Lot
0.48 ac (21,000 SF)
Zoning code
CXD
APN
1N1E34AA 00200
UPID
US71-1022002
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.
Building & site characteristics
From public records
Year built
1977
Construction
FRAME
Heating
NONE
Stories
2
Units
44
Lot
0.48 ac
Current owner
From public records · entity-resolved
Param Rose Garden LLC
Entity
Mailing address
11707 NE AIRPORT WAY, PORTLAND, OR 97220-1075
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2017
$650,000
Param Rose Garden LLC
Shilo Inn Rose Garden LLC
Warranty Deed
—
Nov 22, 2004
—
Shilo Inn Rose Garden LLC
Smh Properties LLC
Grant Deed
related
—
Sep 1, 2004
—
Smh Properties LLC
C & K Investment Co Of Oregon LLC
Trustees Deed
related
—
Apr 28, 1995
—
Mark S Hemstreet
—
Deed Of Trust
related
$1,000,000 · Bank Of Newport
—
—
Inn,shilo
—
Deed Of Trust
related
$1,434,025 · Vineyard Bank
—
—
C & K Investment Co LLC
—
Deed Of Trust
related
$2,050,000 · Real Estate Exchange INC
—
—
Shilo Inn Rose Garden LLC
—
Deed Of Trust
related
$1,500,000 · Vineyard 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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