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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Retail space
1610 223rd Ave Fairview, OR 97024-2662
Individually Owned
18-yr Hold
~
Est. High Equity
Property ID
US71-0406196
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1955
Total area
2,800 SF
Lot
0.13 ac (5,663 SF)
Zoning code
TCC
APN
1N3E27CC 04800
UPID
US71-0406196
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
$716k
Blend (final)
Blend
$715k
Owner & transaction history
Joung C Kim · 18 yrs held
Joung C Kim
since 2007
4 recorded transactions
Zoning & alternative use
TCC · Fairview, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$845,000
+2.2%
Auto repair, garage
$830,000
+0.2%
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 Fairview submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fairview 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
RETAIL STORES
$830,000
Current use
MEDICAL BUILDING
$845,000
Change: +2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$830,000
Change: +0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$795,000
Change: -4% · Conversion: Easy
OFFICE BUILDING
$720,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$715k
Range $644k – $787k · ±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
$255 / 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
$3,710
Tax year 2023
Assessed value
$210,020
Assessed 2023
Previous assessed
$203,910
+3.0% YoY
Effective rate
1.77%
On assessed value
Land market value
$62,210
Improvement market value
$467,480
Total market value
$529,690
Applied tax rate
925.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1955
Heating
NONE
Stories
1
Total area
2,800 SF
Lot
0.13 ac (5,663 SF)
Zoning code
TCC
APN
1N3E27CC 04800
UPID
US71-0406196
Jurisdiction
MULTNOMAH
Zoning & alternative use
TCC · Fairview, OR
Zoning TCC · permitted uses
TCC · Fairview, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fairview. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$830,000
MEDICAL BUILDING
Est. value
$845,000
AUTO REPAIR, GARAGE
Est. value
$830,000
COMMERCIAL (GENERAL)
Est. value
$795,000
OFFICE BUILDING
Est. value
$720,000
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1955
Heating
NONE
Stories
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Joung C Kim
Individual
Mailing address
1610 NE 223RD AVE, FAIRVIEW, OR 97024-2662
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2007
$960,000
Joung C Kim
Jds Development-oregon LLC
Warranty Deed
$929,000 · Innovative Bank
May 15, 2006
—
S & N Dev Corp
—
Deed Of Trust
related
$5,680,000 · Iq Cu
—
—
S & N Dev Corp
—
Deed Of Trust
related
$250,000 · Neal John C Trust (tr)
—
—
S & N Dev Corp
—
Deed Of Trust
related
$250,000 · Sutton Family Trust (tr)
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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