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Property profile & analytics
OFF-MARKET
Estimated value
$15,500,000
Hotels
1604 Burnside St, Portland, OR 97214-1453
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US71-0196674
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2021
Total area
33,319 SF
Lot
0.21 ac (9,000 SF)
Zoning code
CS
APN
1N1E35DC 01000
UPID
US71-0196674
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$15.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$15.50M
Owner & transaction history
Central City Concern And Assigns · 2 yrs held
Central City Concern And Assigns
since 2024
Last sale
$15.5M
7 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
$15,500,000
ML approach
$15,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$11,410,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$10,720,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,175,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$10,065,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$9,860,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,660,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$15.50M
Range $13.95M – $17.05M · ±10% · vs last sale $15.50M (Feb 23 2024)
Last sale anchor
$15.50M
Feb 23 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
$465 / 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
$65,966
Tax year 2023
Assessed value
$2,489,390
Assessed 2023
Previous assessed
$2,489,390
+0.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$1,620,000
Improvement market value
$3,861,920
Total market value
$5,481,920
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2021
Heating
NONE
Stories
2
Total area
33,319 SF
Lot
0.21 ac (9,000 SF)
Zoning code
CS
APN
1N1E35DC 01000
UPID
US71-0196674
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
RESTAURANT
Est. value
$11.4M
RETAIL STORES
Est. value
$10.7M
AUTO REPAIR, GARAGE
Est. value
$10.2M
MEDICAL BUILDING
Est. value
$10.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.9M
COMMERCIAL (GENERAL)
Est. value
$9.7M
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
2021
Heating
NONE
Stories
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
Central City Concern And Assigns
Entity
Mailing address
232 NW 6TH AVE, PORTLAND, OR 97209-3609
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2024
—
Central City Concern
—
Deed
related
$5,000 · Multnomah County
Feb 23, 2024
$15,500,000
Central City Concern And Assigns
L & L Pdx Real Estate Holdings LLC
Warranty Deed
$14,500,000 · Careoregon INC
Sep 25, 2019
—
L & L Pdx R & E Hldgs LLC
—
Grant Deed
related
$14,500,000 · Thrive Lndg Fund II LLC
Nov 15, 2017
$2,250,000
L & L Pdx R & E Holdings LLC
Blizzard Properties LLC
Warranty Deed
—
May 13, 2009
—
Blizzard Properties LLC
Blizzard,doug & Kristy
Quit Claim Deed
—
Jan 26, 2001
$410,000
Doug Blizzard
Gress,lewis A & Mary S
Grant Deed
$360,000 · Individual
May 3, 2000
$400,000
Lewis A Gress
Bliss,charles R & Sandra J
Grant Deed
—
Apr 7, 1995
$290,000
Charles R Bliss
Daniels,james H & Julie A
Grant Deed
$125,000 · Seller
Nov 1, 1991
$200,000
James H Daniels
Unknown
Grant Deed
—
—
—
Blizzard Properties LLC
—
Deed Of Trust
related
$360,000 · Lewis A & Mary S Gress
—
—
L & L Pdx R & E Hldgs LLC
—
Deed Of Trust
related
$1,700,000 · Thrive Lndg Fund II LLC
—
—
Charles R Bliss
—
Deed Of Trust
related
$150,000 · Western Fsb
—
—
Charles R Bliss
—
Deed Of Trust
related
$138,300 · Pac West Mortgage INC
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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