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Property profile & analytics
OFF-MARKET
Estimated value
$49,300,000
Apartment buildings
20300 Morrison Ter, Gresham, OR 97030-2233
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US71-0727927
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2004
Total area
208,905 SF
Lot
10.17 ac (443,005 SF)
Zoning code
CMF
APN
1S3E04BB 08802
UPID
US71-0727927
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
$41.27M
Comparable Approach
Comparable
$49.10M
Blend (final)
Blend
$49.30M
Owner & transaction history
Plra Gresham LLC · 9 yrs held
Plra Gresham LLC
since 2017
Last sale
$49.5M
2 recorded transactions
Zoning & alternative use
CMF · Gresham, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$74.7M
+35.9%
Medical building
$63.1M
+14.8%
Auto repair, garage
$61.9M
+12.6%
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
$46,205,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$44,705,000
6.5%
$41,265,000
7%
$38,320,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$54,990,000
Current use
RESTAURANT
$74,720,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$63,110,000
Change: +15% · Conversion: Moderate
AUTO REPAIR, GARAGE
$61,915,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$53,730,000
Change: -2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$51,700,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$49.30M
Range $44.37M – $54.23M · ±10% · vs last sale $49.50M (Feb 24 2025)
Last sale anchor
$49.50M
Feb 24 2025
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
$236 / 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
$342,386
Tax year 2023
Assessed value
$18,185,240
Assessed 2023
Previous assessed
$17,655,580
+3.0% YoY
Effective rate
1.88%
On assessed value
Land market value
$3,100,780
Improvement market value
$47,895,600
Total market value
$50,996,380
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2004
Heating
NONE
Stories
1
Total area
208,905 SF
Lot
10.17 ac (443,005 SF)
Zoning code
CMF
APN
1S3E04BB 08802
UPID
US71-0727927
Jurisdiction
MULTNOMAH
Zoning & alternative use
CMF · Gresham, OR
Zoning CMF · permitted uses
CMF · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$55.0M
RESTAURANT
Est. value
$74.7M
MEDICAL BUILDING
Est. value
$63.1M
AUTO REPAIR, GARAGE
Est. value
$61.9M
OFFICE BUILDING
Est. value
$53.7M
COMMERCIAL (GENERAL)
Est. value
$51.7M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
NONE
Stories
1
Lot
10.17 ac
Current owner
From public records · entity-resolved
Plra Gresham LLC
Entity
Mailing address
655 MONTGOMERY ST STE #1700, SAN FRANCISCO, CA 94111-2633
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
Jun 19, 2017
—
Plra Gresham LLC
Plra Gresham LLC
Quit Claim Deed
related
$30,810,000 · M&t Rlty Cap
Oct 30, 2015
$32,885,794
Plra Gresham LLC
Avalon Oregon Partners LLC
Warranty Deed
$29,280,000 · M&t Rlty Cap
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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