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Property profile & analytics
FOR LEASE
Investment properties
1607-1611 16th Ave Portland, OR 97232
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US71-0986854
For Lease
1 / 24
$25 SF/Yr
1607-1611 16th Ave, Portland, OR 97232
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1947
Total area
3,328 SF
Lot
0.11 ac (5,000 SF)
Zoning code
CX
APN
1N1E26DC 14100
UPID
US71-0986854
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.16M
Blend (final)
Blend
$1.16M
Owner & transaction history
King Of Keller Ne 16th LLC · 18 yrs held
King Of Keller Ne 16th LLC
since 2008
3 recorded transactions
Zoning & alternative use
CX · 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
by Request
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)
$1,075,000
Current use
AUTO REPAIR, GARAGE
$1,015,000
Change: -5% · Conversion: Difficult
MEDICAL BUILDING
$1,005,000
Change: -6% · Conversion: Easy
RETAIL STORES
$1,000,000
Change: -7% · Conversion: Easy
OFFICE BUILDING
$960,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±10%
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
$347 / 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
$10,815
Tax year 2023
Assessed value
$408,120
Assessed 2023
Previous assessed
$396,240
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$274,000
Improvement market value
$381,890
Total market value
$655,890
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
1947
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
3
Total area
3,328 SF
Lot
0.11 ac (5,000 SF)
Zoning code
CX
APN
1N1E26DC 14100
UPID
US71-0986854
Jurisdiction
MULTNOMAH
Zoning & alternative use
CX · Portland, OR
Zoning CX · permitted uses
CX · 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
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$1.0M
OFFICE BUILDING
Est. value
$960,000
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
1947
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
3
Lot
0.11 ac
Current owner
From public records · entity-resolved
King Of Keller Ne 16th LLC
Entity
Mailing address
13343 SE STARK ST STE #200, PORTLAND, OR 97233-1860
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2008
$562,500
King Of Keller Ne 16th LLC
Eldridge,kathleen J
Warranty Deed
$412,500 · Kathleen Eldridge
Dec 1, 1992
$147,500
Kathleen J Eldridge
Unknown
Grant Deed
—
—
—
King Of Keller Ne 16th LLC
—
Deed Of Trust
related
$427,000 · Bank Of The West
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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