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Property profile & analytics
OFF-MARKET
Estimated value
$45,580,000
Apartment buildings
20699 Glisan St, Fairview, OR 97024-3839
Entity Owned
31-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US71-0671671
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2004
Total area
200,937 SF
Lot
7.46 ac (324,958 SF)
Zoning code
R_MF
APN
1N3E33 00500
UPID
US71-0671671
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
by Request
Comparable Approach
Comparable
$45.58M
Blend (final)
Blend
$45.58M
Owner & transaction history
Gra Development INC · 31 yrs held
Gra Development INC
since 1994
7 recorded transactions
Zoning & alternative use
R_MF · Fairview, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$71.9M
+35.9%
Medical building
$60.7M
+14.8%
Auto repair, garage
$59.6M
+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 Fairview submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fairview 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
APARTMENT HOUSE (5+ UNITS)
$52,895,000
Current use
RESTAURANT
$71,870,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$60,705,000
Change: +15% · Conversion: Moderate
AUTO REPAIR, GARAGE
$59,550,000
Change: +13% · Conversion: Difficult
RETAIL STORES
$59,410,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$56,980,000
Change: +8% · Conversion: Moderate
OFFICE BUILDING
$51,680,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$45.58M
Range $41.02M – $50.14M · ±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
$227 / 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
$292,244
Tax year 2023
Assessed value
$16,881,180
Assessed 2023
Previous assessed
$16,389,500
+3.0% YoY
Effective rate
1.73%
On assessed value
Land market value
$2,275,950
Improvement market value
$43,586,830
Total market value
$45,862,780
Applied tax rate
240.0000
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
200,937 SF
Lot
7.46 ac (324,958 SF)
Zoning code
R_MF
APN
1N3E33 00500
UPID
US71-0671671
Jurisdiction
MULTNOMAH
Zoning & alternative use
R_MF · Fairview, OR
Zoning R_MF · permitted uses
R_MF · Fairview, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fairview. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$52.9M
RESTAURANT
Est. value
$71.9M
MEDICAL BUILDING
Est. value
$60.7M
AUTO REPAIR, GARAGE
Est. value
$59.6M
RETAIL STORES
Est. value
$59.4M
COMMERCIAL (GENERAL)
Est. value
$57.0M
OFFICE BUILDING
Est. value
$51.7M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
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
2004
Heating
NONE
Stories
1
Lot
7.46 ac
Current owner
From public records · entity-resolved
Gra Development INC
Entity
Mailing address
5800 MDWS RD STE #240, LAKE OSWEGO, OR 97035-8253
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1994
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2020
—
Salish Lakes LLC
—
Deed
related
$20,000,000 · Walker & Dunlop
Sep 29, 2010
—
Salish Lake LLC
—
Deed Of Trust
related
$13,000,000 · Nationwide Life Insurance Co
Sep 30, 2003
—
Salish Lake LLC
—
Trustees Deed
related
$13,040,909 · M & T Real Estate INC
Dec 30, 1994
$400,000
Gra Development INC
Blackwell Investment Co INC
Trustees Deed
$408,400 · Frank Schmidt & Son Co Pst
Dec 30, 1994
—
Blackwell Investment Co INC
Lloyd Properties
Quit Claim Deed
related
—
Dec 1, 1988
—
Riedel Resources INC
Unknown
Grant Deed
related
—
—
—
Salish Lakes LLC
—
Deed Of Trust
related
$20,000,000 · Walker & Dunlop
—
—
Salish Lake LLC
—
Deed Of Trust
related
$13,000,000 · Nationwide Life Insurance Co
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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