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Property profile & analytics
OFF-MARKET
Estimated value
$1,255,000
Outlet malls
1623 1st St, Hermiston, OR 97838-1106
Entity Owned
~
Est. High Equity
Property ID
US71-0845668
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2007
Total area
10,534 SF
Lot
0.91 ac (39,699 SF)
Zoning code
C-2
APN
4N2803D001314
UPID
US71-0845668
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
-
BestMed Urgent Care Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.57M
Comparable Approach
Comparable
$1.20M
Blend (final)
Blend
$1.26M
Owner & transaction history
Thrifty Properties LLC
Thrifty Properties LLC
since 2025
2 recorded transactions
Zoning & alternative use
C-2 · Hermiston, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+73.7%
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 Hermiston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hermiston 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%
$1,695,000
6.5%
$1,565,000
7%
$1,455,000
Alternative Use
Use
Estimation
RETAIL STORES
$760,000
Current use
COMMERCIAL (GENERAL)
$1,315,000
Change: +74% · Conversion: Easy
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±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
$119 / 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
$26,276
Tax year 2023
Assessed value
$1,219,490
Assessed 2023
Previous assessed
$1,163,255
+4.8% YoY
Effective rate
2.15%
On assessed value
Assessed land
$165,930
Assessed improvement
$1,053,560
Land market value
$254,010
Improvement market value
$1,874,270
Total market value
$2,128,280
Applied tax rate
801.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2007
Heating
NONE
Buildings
2
Total area
10,534 SF
Lot
0.91 ac (39,699 SF)
Zoning code
C-2
APN
4N2803D001314
UPID
US71-0845668
Jurisdiction
UMATILLA
Zoning & alternative use
C-2 · Hermiston, OR
Zoning C-2 · permitted uses
C-2 · Hermiston, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hermiston. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$760,000
COMMERCIAL (GENERAL)
Est. value
$1.3M
RETAIL STORES Current
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
2007
Heating
NONE
Buildings
2
Lot
0.91 ac
Current owner
From public records · entity-resolved
Thrifty Properties LLC
Entity
Mailing address
PO BOX 1004, LAKE OSWEGO, OR 97034-0113
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 10, 2025
$2,150,000
Thrifty Properties LLC
Robert N Magid
Warranty Deed
$1,227,459 · Spokane Teachers Cu
May 6, 2022
—
Eig14t Nova Or Hermiston LLC
—
Deed
related
$1,500,000 · Umpqua Bank
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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