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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Commercial real estate
2056 122nd Ave Portland, OR 97233-1306
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US71-0073407
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1947
Total area
2,055 SF
Lot
0.24 ac (10,454 SF)
Zoning code
R3
APN
1S2E02CB 12900
UPID
US71-0073407
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
-
Taqueria Taco Ramos Restaurant
-
Western Union Bank Credit Union
-
Stop & Go Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$532k
Blend (final)
Blend
$530k
Owner & transaction history
Absar Properties LLC · 8 yrs held
Absar Properties LLC
since 2018
3 recorded transactions
Zoning & alternative use
R3 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$625,000
+16.7%
Medical building
$620,000
+15.4%
Office building
$595,000
+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)
$540,000
Current use
AUTO REPAIR, GARAGE
$625,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$620,000
Change: +15% · Conversion: Easy
OFFICE BUILDING
$595,000
Change: +10% · Conversion: Easy
RETAIL STORES
$495,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$258 / 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
$5,985
Tax year 2023
Assessed value
$254,620
Assessed 2023
Previous assessed
$247,210
+3.0% YoY
Effective rate
2.35%
On assessed value
Land market value
$429,000
Improvement market value
$313,840
Total market value
$742,840
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1947
Heating
FORCED AIR
Stories
1
Bathrooms
1
Total area
2,055 SF
Lot
0.24 ac (10,454 SF)
Zoning code
R3
APN
1S2E02CB 12900
UPID
US71-0073407
Jurisdiction
MULTNOMAH
Zoning & alternative use
R3 · Portland, OR
Zoning R3 · permitted uses
R3 · 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
$540,000
AUTO REPAIR, GARAGE
Est. value
$625,000
MEDICAL BUILDING
Est. value
$620,000
OFFICE BUILDING
Est. value
$595,000
RETAIL STORES
Est. value
$495,000
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
1947
Heating
FORCED AIR
Stories
1
Bathrooms
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
Absar Properties LLC
Entity
Mailing address
15066 SE BUNKER HL CT, HAPPY VALLEY, OR 97086-7346
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 2018
$430,000
Absar Properties LLC
Hans & Eugene LLC
Warranty Deed
$380,000 · Micro Ent Services Of Oregon
Aug 6, 2004
$330,000
Hans & Eugene LLC
Lee,kee H & Jung O
Grant Deed
$247,500 · Pacific Continental Bank
—
—
Kee H Lee
—
Deed Of Trust
related
$130,000 · Bank Of Portland
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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