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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Commercial real estate
16000 Misty Dr, Happy Valley, OR 97086-4288
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US71-1001976
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2008
Total area
2,375 SF
Lot
3.32 ac (144,619 SF)
Zoning code
MUC
APN
22E01A 00800
UPID
US71-1001976
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
-
Happy Valley City Hall City Hall
-
Fairy Tale Face Painting Artist
-
Happy Valley Business Alliance Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$575k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$585k
Owner & transaction history
Devin Benware · 4 yrs held
Devin Benware
since 2022
Last sale
$574,500
7 recorded transactions
Zoning & alternative use
MUC · Happy Valley, 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 Happy Valley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Happy Valley 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
$610,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$620,000
6.5%
$575,000
7%
$535,000
Blend value · Realmo final
$585k
Range $527k – $644k · ±10% · vs last sale $575k (Mar 3 2022)
Last sale anchor
$575k
Mar 3 2022
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
$246 / 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
Assessed value
$9,701,164
Assessed 2023
Previous assessed
$9,701,164
+0.0% YoY
Land market value
$2,767,336
Improvement market value
$13,872,740
Total market value
$16,640,076
Applied tax rate
12.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2008
Heating
FORCED AIR
Stories
2
Bathrooms
3
Total area
2,375 SF
Lot
3.32 ac (144,619 SF)
Zoning code
MUC
APN
22E01A 00800
UPID
US71-1001976
Jurisdiction
CLACKAMAS
Zoning & alternative use
MUC · Happy Valley, OR
Zoning MUC · permitted uses
MUC · Happy Valley, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Happy Valley. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2008
Heating
FORCED AIR
Stories
2
Bathrooms
3
Lot
3.32 ac
Current owner
From public records · entity-resolved
Devin Benware
Individual
Mailing address
16000 SE MISTY DR, HAPPY VALLEY, OR 97086-4288
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
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
Mar 3, 2022
$574,500
Devin Benware
David Fritz Kemple
Warranty Deed
$532,000 · Guild Mortgage Co
Sep 4, 2007
$2,450,000
City Of Happy Valley
Gramor Acme LLC
Warranty Deed
—
Apr 30, 2004
$535,000
Bac Happy Valley LLC
Gilbert,richard W & Denise L
Grant Deed
related
$540,000 · Chicago Title Insurance Co
May 1, 1990
$90,000
Richard Walter Gilbert
Unknown
Grant Deed
related
—
—
—
Richard W Gilbert
—
Deed Of Trust
related
$35,000 · First Interstate Bank Oregon
—
—
Richard W Gilbert
—
Deed Of Trust
related
$100,000 · First Interstate Bank Oregon
—
—
Richard W Gilbert
—
Deed Of Trust
related
$140,000 · Sierra Pacific Mortgage
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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