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Property profile & analytics
OFF-MARKET
Estimated value
$5,715,000
Outlet malls
1607 Monmouth St Independence, OR 97351
Entity Owned
30-yr Hold
Free & Clear
Property ID
US71-0461615
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1997
Total area
31,203 SF
Lot
4.39 ac (191,228 SF)
Zoning code
CR
APN
08429-B0-04400
UPID
US71-0461615
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
$5.78M
Comparable Approach
Comparable
$6.83M
Blend (final)
Blend
$5.72M
Owner & transaction history
Crown Capital INC · 30 yrs held
Crown Capital INC
since 1996
1 recorded transaction
Zoning & alternative use
CR · Independence, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
CITY OF INDEPENDENCE
Top alternative use upside
Office building
$6.4M
+54.1%
Apartment house (5+ units)
$4.9M
+17.6%
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 Independence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Independence 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%
$6,260,000
6.5%
$5,775,000
7%
$5,365,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,125,000
Current use
OFFICE BUILDING
$6,355,000
Change: +54% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,850,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$5.72M
Range $5.14M – $6.29M · ±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
$183 / 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
$53,216
Tax year 2023
Assessed value
$2,806,710
Assessed 2023
Previous assessed
$2,724,970
+3.0% YoY
Effective rate
1.90%
On assessed value
Assessed land
$363,310
Assessed improvement
$2,443,400
Land market value
$433,800
Improvement market value
$3,760,330
Total market value
$4,194,130
Applied tax rate
1,329.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1997
Heating
NONE
Buildings
2
Stories
1
Rooms
6
Bathrooms
1
Total area
31,203 SF
Lot
4.39 ac (191,228 SF)
Zoning code
CR
APN
08429-B0-04400
UPID
US71-0461615
Jurisdiction
POLK
Zoning & alternative use
CR · Independence, ORZoning CR · permitted uses
CR · Independence, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
CITY OF INDEPENDENCE
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.1M
OFFICE BUILDING
Est. value
$6.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.9M
RETAIL STORES Current
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1997
Heating
NONE
Stories
1
Buildings
2
Rooms
6
Bathrooms
1
Lot
4.39 ac
Current owner
From public records · entity-resolved
Crown Capital INC
Entity
Free & Clear · 30 yrs held
Mailing address
PO BOX 5756, BOISE, ID 83705-0756
Ownership since
1996
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 1996
$300,000
Crown Capital INC
Miller,adelbert S & Ilona B
Grant Deed
related
—
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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