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Property profile & analytics
OFF-MARKET
Estimated value
$1,210,000
Office Spaces
1952 122nd Ave, Portland, OR 97233-1304
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US71-1893648
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1989
Total area
4,628 SF
Lot
0.65 ac (28,412 SF)
Zoning code
R3A
APN
1S2E02CB 12700
UPID
US71-1893648
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
-
Mill Park Center: a New Narrative program Medical Clinic
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
Luke Dorf INC · 13 yrs held
Luke Dorf INC
since 2012
7 recorded transactions
Zoning & alternative use
R3A · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+16.7%
Medical building
$1.4M
+15.4%
Office building
$1.3M
+10.4%
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 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)
$1,210,000
Current use
AUTO REPAIR, GARAGE
$1,415,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$1,400,000
Change: +15% · Conversion: Easy
OFFICE BUILDING
$1,340,000
Change: +10% · Conversion: Easy
RETAIL STORES
$1,120,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$1.21M
Range $1.09M – $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
$261 / 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
Land market value
$710,300
Improvement market value
$1,370,370
Total market value
$2,080,670
Applied tax rate
113.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Year built
1989
Heating
NONE
Stories
1
Total area
4,628 SF
Lot
0.65 ac (28,412 SF)
Zoning code
R3A
APN
1S2E02CB 12700
UPID
US71-1893648
Jurisdiction
MULTNOMAH
Zoning & alternative use
R3A · Portland, OR
Zoning R3A · permitted uses
R3A · 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
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE 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
Year built
1989
Heating
NONE
Stories
1
Lot
0.65 ac
Current owner
From public records · entity-resolved
Luke Dorf INC
Entity
Mailing address
8915 SW CTR ST, TIGARD, OR 97223-6307
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2012
$860,000
Luke Dorf INC
First Community Credit Union
Warranty Deed
$660,000 · Capital Pacific Bank
Jul 17, 2012
—
Cmnty Cu First
Roberts,charles L
Deed In Lieu Of Foreclosure
related
—
Jun 26, 2012
—
Charles L Roberts
R & R Management
Grant Deed
related
—
Feb 22, 2010
—
R & R Management LLC
Roberts,charles L
Warranty Deed
related
—
Feb 11, 2005
$1,200,000
Charles L Roberts
Cascade View FCU
Warranty Deed
$1,100,000 · Oregon First Community Cu
Feb 8, 2000
$920,000
Cascade View FCU
Gelfand Trust
Grant Deed
related
—
May 11, 1998
—
Gelfand Trust
Gelfand,harvey R & Frances E
Quit Claim Deed
related
$125,000 · Beneficial Mortgage Co
—
—
Gelfand Trust
—
Deed Of Trust
related
$650,000 · Seattle Funding Group Ltd
—
—
Cascade View FCU
—
Deed Of Trust
related
$700,000 · Northwest Corporate Cu
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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