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Property profile & analytics
OFF-MARKET
Estimated value
$1,205,000
Investment properties
1906 Madison St Portland, OR 97205-1759
Entity Owned
10-yr Hold
Free & Clear
Property ID
US71-0790037
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1909
Total area
3,919 SF
Lot
0.07 ac (3,078 SF)
Zoning code
CXD
APN
1S1E04BA 02700
UPID
US71-0790037
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
-
Dr Renee Pirkl PsyD: Renee Pirkl PHD Physician Medical Clinic
-
Sarah Dykes LPC Intern, LLC Counselor
-
Law Works LLC Law Firm
-
Micah Freeman Counseling, LLC Counselor
-
Law Works LLC - Lake James Perriguey Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.21M
Blend (final)
Blend
$1.21M
Owner & transaction history
Kay-see LLC · 10 yrs held
Kay-see LLC
since 2016
7 recorded transactions
Zoning & alternative use
CXD · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+6.0%
Medical building
$1.2M
+4.9%
Retail stores
$1.2M
+4.3%
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 Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portland 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
COMMERCIAL (GENERAL)
$1,130,000
Current use
AUTO REPAIR, GARAGE
$1,195,000
Change: +6% · Conversion: Difficult
MEDICAL BUILDING
$1,185,000
Change: +5% · Conversion: Easy
RETAIL STORES
$1,175,000
Change: +4% · Conversion: Easy
OFFICE BUILDING
$1,135,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$1.21M
Range $1.08M – $1.33M · ±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
$307 / 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
$13,793
Tax year 2023
Assessed value
$521,010
Assessed 2023
Previous assessed
$505,840
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$316,000
Improvement market value
$692,410
Total market value
$1,008,410
Applied tax rate
1.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1909
Heating
HEAT PUMP
Stories
2
Bathrooms
2
Total area
3,919 SF
Lot
0.07 ac (3,078 SF)
Zoning code
CXD
APN
1S1E04BA 02700
UPID
US71-0790037
Jurisdiction
MULTNOMAH
Zoning & alternative use
CXD · Portland, OR
Zoning CXD · permitted uses
CXD · Portland, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1909
Heating
HEAT PUMP
Stories
2
Bathrooms
2
Lot
0.07 ac
Current owner
From public records · entity-resolved
Kay-see LLC
Entity
Free & Clear · 10 yrs held
Mailing address
1906 SW MADISON ST STE #300, PORTLAND, OR 97205-1760
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 25, 2016
$612,000
Kay-see LLC
Madison Manor INC
Grant Deed
—
Apr 25, 2016
$865,000
Zion Estates LLC
Kay-see LLC
Warranty Deed
—
Dec 8, 2015
$720,000
Kay-see LLC
Madison Manor INC
Dual Purpose Document
related
$612,000 · Madison Manor INC
Jul 7, 2003
—
Madison Manor INC
Sussamn,marc
Grant Deed
$372,000 · Wells Fargo Bank Northwest NA
Mar 9, 2001
$410,000
Marc Sussman
Erickson,donald A & Gay K
Grant Deed
$369,000 · America's Wholesale Lender
May 1, 1991
$167,500
Donald A Erickson
Unknown
Grant Deed
—
—
—
Madison Manor INC
—
Deed Of Trust
related
$315,000 · Wells Fargo Bank
—
—
Donald A Erickson
—
Deed Of Trust
related
$45,000 · Northwest Equity & Loan
—
—
Donald A Erickson
—
Deed Of Trust
related
$218,400 · Wmc Mortgage Corp
—
—
Donald A Erickson
—
Deed Of Trust
related
$288,000 · Novastar Mortgage
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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