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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Office Spaces
1904 Pacific Ave Forest Grove, OR 97116-2326
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-1680742
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Total area
2,640 SF
Lot
0.09 ac (4,050 SF)
Zoning code
TCC
APN
1S306BB-07000
UPID
US71-1680742
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
$640k
Comparable Approach
Comparable
$478k
Blend (final)
Blend
$565k
Owner & transaction history
Erika M Myrick · 4 yrs held
Erika M Myrick
since 2022
Last sale
$649,000
4 recorded transactions
Zoning & alternative use
TCC · Forest Grove, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$840,000
+15.1%
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 Forest Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest Grove 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
$500,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$690,000
6.5%
$640,000
7%
$595,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$730,000
Current use
MEDICAL BUILDING
$840,000
Change: +15% · Conversion: Easy
RETAIL STORES
$590,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$565k
Range $509k – $622k · ±10% · vs last sale $649k (Feb 15 2022)
Last sale anchor
$649k
Feb 15 2022
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
$214 / 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
$4,040
Tax year 2023
Assessed value
$215,230
Assessed 2023
Previous assessed
$208,970
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$137,170
Improvement market value
$334,620
Total market value
$471,790
Applied tax rate
15.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Heating
NONE
Total area
2,640 SF
Lot
0.09 ac (4,050 SF)
Zoning code
TCC
APN
1S306BB-07000
UPID
US71-1680742
Jurisdiction
WASHINGTON
Zoning & alternative use
TCC · Forest Grove, OR
Zoning TCC · permitted uses
TCC · Forest Grove, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Forest Grove. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$730,000
MEDICAL BUILDING
Est. value
$840,000
RETAIL STORES
Est. value
$590,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RETAIL STORES
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
Heating
NONE
Lot
0.09 ac
Current owner
From public records · entity-resolved
Erika M Myrick
Individual
Mailing address
2611 NW HWY 47, FOREST GROVE, OR 97116-8635
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Feb 15, 2022
$649,000
Erika M Myrick
Step In Studio LLC
Warranty Deed
$519,200 · Us Bank NA
Jan 23, 2012
$270,000
Step In Studio LLC
Gales Creek LLC
Grant Deed
—
May 31, 2011
$270,000
Gales Creek LLC
Sas I LLC
Warranty Deed
—
Oct 20, 2000
$150,000
Sas I LLC
Christian Science Society INC
Grant Deed
$125,000 · Seller
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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