Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$31,725,000
Medical Office Space
1851 Civic Dr 1867 Gresham, OR 97030-5566
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US71-0946968
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2004
Total area
84,582 SF
Lot
4.69 ac (204,296 SF)
Zoning code
TDMC
APN
1S3E04DB 00200
UPID
US71-0946968
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
$31.72M
Blend (final)
Blend
$31.73M
Owner & transaction history
Gresham Medical Prop Owner LLC · 9 yrs held
Gresham Medical Prop Owner LLC
since 2017
2 recorded transactions
Zoning & alternative use
TDMC · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$30.3M
+18.4%
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 Gresham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gresham 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
MEDICAL BUILDING
$25,555,000
Current use
RESTAURANT
$30,255,000
Change: +18% · Conversion: Difficult
AUTO REPAIR, GARAGE
$25,070,000
Change: -2% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$22,265,000
Change: -13% · Conversion: Moderate
OFFICE BUILDING
$21,755,000
Change: -15% · Conversion: Easy
COMMERCIAL (GENERAL)
$20,930,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$31.73M
Range $28.55M – $34.90M · ±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
$375 / 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
$287,467
Tax year 2023
Assessed value
$15,268,310
Assessed 2023
Previous assessed
$14,823,610
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$5,166,980
Improvement market value
$26,732,940
Total market value
$31,899,920
Applied tax rate
137.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2004
Heating
OTHER
Buildings
3
Stories
3
Bathrooms
1
Total area
84,582 SF
Lot
4.69 ac (204,296 SF)
Zoning code
TDMC
APN
1S3E04DB 00200
UPID
US71-0946968
Jurisdiction
MULTNOMAH
Zoning & alternative use
TDMC · Gresham, OR
Zoning TDMC · permitted uses
TDMC · Gresham, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gresham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$25.6M
RESTAURANT
Est. value
$30.3M
AUTO REPAIR, GARAGE
Est. value
$25.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$22.3M
OFFICE BUILDING
Est. value
$21.8M
COMMERCIAL (GENERAL)
Est. value
$20.9M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
2004
Heating
OTHER
Stories
3
Buildings
3
Bathrooms
1
Lot
4.69 ac
Current owner
From public records · entity-resolved
Gresham Medical Prop Owner LLC
Entity
Mailing address
800 W MADISON ST STE #400, CHICAGO, IL 60607-2481
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
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
Feb 21, 2017
$23,500,000
Gresham Medical Prop Owner LLC
Westlake Gresham North LLC
Grant Deed
$16,100,000 · Alostar Bk/commerce
Sep 22, 2006
—
Westlake Gresham North LLC
Chang Income Prop Ptshp II
Grant Deed
$21,900,000 · Wells Fargo Bank NA
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?”
You own 1851 Civic Dr, Unit 1867?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
